RBC Launches Auto-Callable Notes Tied to Gold Miners ETF

Royal Bank of Canada is launching Auto-Callable Enhanced Return Barrier Notes linked to the VanEck® Gold Miners ETF (GDX UP). These notes, due on October 26, 2029, offer investors a mix of potential returns and risks, with a focus on gold mining stocks.

The notes come with an auto-call feature: if the closing value of the VanEck® Gold Miners ETF meets or exceeds its initial value on the Call Observation Date, investors will receive an 18.10% return, and the notes will be automatically redeemed. If not, the return potential depends on the ETF’s performance at maturity, with a participation rate of 200% if the ETF’s value rises, but with significant downside risk if it falls below the barrier value of 80% of the initial ETF value.

Investors should be aware that the notes do not pay interest and are subject to the credit risk of Royal Bank of Canada. The public offering price is set at $1,000 per note, with an estimated initial value between $905 and $955. The minimum investment is $1,000, and the notes are not listed on any securities exchange.

RBC Capital Markets, LLC is the underwriter for this offering, which has a trade date of October 23, 2026, and an issue date of October 28, 2026. The notes’ valuation and maturity dates are set for October 23, 2029, and October 26, 2029, respectively.