ExGen Resources Inc. — Capital/Financing Update 2024

Jun 14, 2024

June 14, 2024

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RBC GLOBAL INVESTMENT SOLUTIONS

RBC Solactive Enbridge AR 3.66 Index Callable Contingent Yield 13.02% Securities (CAD), Series 1459, F-Class - Non Principal Protected Security

Performance linked to Potential 13.02% Callable monthly at 7.0 year 80.00% protection the Solactive Enbridge coupon per annual 105% of the Initial term AR 3.99 Index period barrier level Index Level KEY TERMS Subscriptions Close Issuer: Royal Bank of Canada on or about Issuer Credit Ratings: Moody’s: Aa1; S&P: AA-; DBRS: AA July 2, 2024 Currency: CAD

on or about July 2, 2024 Subscriptions Close July 4, 2025 and monthly thereafter Autocall Observation Dates RBC11240 FUNDSERV This summary is qualified in its entirety by a pricing supplement (the “Pricing Supplement”) and the base shelf prospectus dated March 15, 2024. www.rbcnotes.com	Issuer: Royal Bank of Canada
	Issuer Credit Ratings: Moody’s: Aa1; S&P: AA-; DBRS: AA
	Currency: CAD
	Minimum Investment: 50 Securities or $5,000
	Term: Approximately 7.0 years
	Principal at Risk: The Securities are not principal protected.
	Underlying Index: The return on the Securities is linked to the performance of the Solactive Enbridge AR 3.66 Index (the “Underlying Index”). The Underlying Index is an adjusted return index that aims to track the gross total return performance of the Solactive Enbridge GTR Index (the “Target Index”), subject to a reduction of a synthetic dividend of 3.66 index points per annum calculated daily in arrears (the “Adjusted Return Factor”). The only constituent securities in the Target Index are the common shares of Enbridge Inc. (the “Constituent Securities” and the “Constituent Securities Issuer”, respectively).For the avoidance of doubt, the return on the Securities is linked to the Underlying Index and is not linked to the Target Index or the Constituent Securities. The Closing Level on June 7, 2024 was 48.84. The Adjusted Return Factor divided by the Closing Level was therefore equal to 7.4939% on June 7, 2024. If an Autocall Redemption Event does not occur, over the term of the Securities the sum of the Adjusted Return Factor will be approximately 25.62 index points, representing 52.4570% of the Closing Level on June 7, 2024. For the calculation of the level of the Target Index, any dividends or other distributions paid on the Constituent Securities are assumed to be reinvested on the Constituent Securities. As of June 7, 2024, the annual dividend yield on the Target Index was 7.3257%, representing an aggregate dividend yield of approximately 64.0311% compounded annually over the term of the Securities, on the assumption that the dividend yield remains constant.
	Issue Date: July 9, 2024
	Initial Index Level: The Closing Level as published by the Index Sponsor on the Initial Valuation Date.
	Initial Valuation Date: July 3, 2024
	Protection Barrier Level: 80.00% of the Initial Index Level.

A final base shelf prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. A copy of the final base shelf prospectus, any amendment to the final base shelf prospectus and any applicable shelf prospectus supplement that has been filed, is required to be delivered with this document. This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final base shelf prospectus, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

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KEY TERMS CONTINUED

Coupon Barrier Level:	80.00% of the Initial Index Level.
Final Index Level:	The Closing Level as published by the Index Sponsor on the Final Valuation Date.
Final Valuation Date:	July 3, 2031
Closing Level:	The official closing level of the Underlying Index as announced by the Index Sponsor for the relevant date, as determined by
	the Calculation Agent.
Maturity Date:	July 8, 2031
Observation Dates:	The dates set out below under the heading “Observation Dates”, provided that if any Observation Date is not an Exchange
	Day, such Observation Date will be the next following day that is an Exchange Day, subject to the occurrence of an
	Extraordinary Event.
Interest Payment Dates:	The dates set out below under the heading “Interest Payment Dates”, subject to the occurrence of an Extraordinary Event,
	and provided that (i) the Securities are not redeemed by the Bank as described below and (ii) if any Interest Payment Date is
	not a Business Day, such Interest Payment Date will be the first following day that is a Business Day. For greater certainty,
	the final Interest Payment, if any, will be made on the earlier of the Autocall Redemption Date (defined below), if any, and
	the Maturity Date.
Interest Payments:	Interest payments, if any, on the Securities will be payable in arrears on each Interest Payment Date at a fixed interest rate of
	1.0850% for each monthly period ending on an Interest Payment Date (an “Interest Period”) in which a Digital Payout Event
	occurs.
	If a Digital Payout Event does not occur on an Observation Date, no interest will be payable for the relevant Interest Period.
Digital Payout Event:	If the Closing Level is greater than or equal to the Coupon Barrier Level on the relevant Observation Date, a Digital Payout
	Event will occur.
Autocall Redemption Event:	If the Closing Level on an Observation Date immediately preceding an Autocall Redemption Date is greater than or equal to
	105.00% of the Initial Index Level (the “Autocall Redemption Level”), an Autocall Redemption Event will occur.
	Following the occurrence of an Autocall Redemption Event, the Securities will be redeemed for an amount equal to the
	Principal Amount thereof (the “Autocall Redemption Amount”) on the applicable Autocall Redemption Date. In addition
	to the Autocall Redemption Amount, an Interest Payment will be paid on the Autocall Redemption Date.
Autocall Redemption Dates:	The dates set out below under the heading “Autocall Redemption Dates”, subject to the occurrence of an Extraordinary Event
	and provided that if any Autocall Redemption Date is not a Business Day, such Autocall Redemption Date will be the first
	following day that is a Business Day.
Payment at Maturity:	If the Securities have not been previously redeemed, the amount payable on the Maturity Date (the “Final Redemption
	Amount”) for each Security will be:
	(a) if the Final Index Level is greater than or equal to the Protection Barrier Level, $100; or
	(b) if the Final Index Level is less than the Protection Barrier Level, an amount equal to the Index Return, but in any event
	not less than $1.00.
Index Return:	$100 × (Xf/ Xi),
	where:
	“Xf” means the Final Index Level, and
	“Xi” means the Initial Index Level.
Constituents of the Target	Target Index Constituent (shares of) Ticker
Index:	Solactive Enbridge GTR Index Enbridge Inc. TSX: ENB
Secondary Market:	Fundserv, RBC11240

Generally, to be effective on a Business Day, a redemption request will need to be initiated by 2:00 p.m. (Toronto time) on that Business Day (or such other time as may be established by Fundserv). Any request received after such time will be deemed to be a request sent and received on the next following Business Day.

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Sample Calculations of Final Redemption Amount or Autocall Redemption Amount and Interest Payments:

The following examples show how return on the Securities would be calculated under different scenarios. These examples are included for illustration purposes only. The performance of the Underlying Index used in the examples is not an estimate or forecast of the performance of the Underlying Index or the Securities. The actual performance of the Underlying Index and the Securities will be different from these examples and the differences may be material. All examples assume that a holder of the Securities has purchased Securities with an aggregate Principal Amount of $100 and that no Extraordinary Event has occurred. For convenience, each vertical line in the charts below represents both a hypothetical Observation Date and the next succeeding Interest Payment Date. Where applicable, dollar amounts are rounded to the nearest whole cent.

Example #1 — Loss Scenario with Payment on the Maturity Date at Less Than the Principal Amount

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• Indicates Observation Dates on which the Coupon Barrier Level is breached; therefore no Interest Payment will occur on the related Interest Payment Date.

• Indicates Observation Dates on which there is a Digital Payout Event; therefore an Interest Payment will occur on the related Interest Payment Date.

• Solactive Enbridge AR 3.66 Index

In this scenario, the Closing Level is below the Autocall Redemption Level on all Observation Dates so the Securities would not be redeemed before the Maturity Date. The Closing Level is at or above the Coupon Barrier Level on 41 of the 84 Observation Dates. On the Final Valuation Date, the Final Index Level is below the Protection Barrier Level.

(i) Interest Payments

Digital Payout Events occur on 41 of the 84 Observation Dates. Therefore, an Interest Payment would be payable for 41 Interest Periods on the applicable Interest Payment Date, for total Interest Payments of:

Principal Amount of Securities × 1.0850% per Interest Period × 41 Interest Periods

$100.00 × 1.0850% × 41 = $44.49

(ii) Final Redemption Amount

In this example, the Initial Index Level (Xi) is 48.84 and the Final Index Level (Xf) is 20.02. Therefore, the Final Redemption Amount is as follows:

$100.00 × (Xf / Xi)

$100.00 × (20.02 / 48.84) = $40.99

Therefore, the total amounts payable per Security from the Issue Date to the Maturity Date are:

(a) Total Interest Payments: $44.49

• (b) Final Redemption Amount: $40.99

• (c) Total amount paid over the term of the Securities: $85.48

The equivalent annually compounded rate of return in this example is -2.22%.

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Sample Calculations:

(continued)

Example #2 — Gain Scenario with Payment on the Maturity Date at the Principal Amount

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• Indicates Observation Dates on which the Coupon Barrier Level is breached; therefore no Interest Payment will occur on the related Interest Payment Date.

• Indicates Observation Dates on which there is a Digital Payout Event; therefore an Interest Payment will occur on the related Interest Payment Date.

• Solactive Enbridge AR 3.66 Index

In this scenario, the Closing Level is below the Autocall Redemption Level on all Observation Dates so the Securities would not be redeemed before the Maturity Date. The Closing Level is at or above the Coupon Barrier Level on 42 of the 84 Observation Dates. On the Final Valuation Date, the Final Index Level is at or above the Protection Barrier Level.

(i) Interest Payments

Digital Payout Events occur on 42 of the 84 Observation Dates. Therefore, an Interest Payment would be payable for 42 Interest Periods on the applicable Interest Payment Date, for total Interest Payments of:

Principal Amount of Securities × 1.0850% per Interest Period × 42 Interest Periods

$100.00 × 1.0850% × 42 = $45.57

(ii) Final Redemption Amount

In this example, the Final Index Level is greater than or equal to the Protection Barrier Level. Therefore, the Final Redemption Amount is $100.00.

Therefore, the total amounts payable per Security from the Issue Date to the Maturity Date are:

• (a) Total Interest Payments: $45.57

• (b) Final Redemption Amount: $100.00

• (c) Total amount paid over the term of the Securities: $145.57

The equivalent annually compounded rate of return in this example is 5.51%.

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Sample Calculations: (continued)

Example #3 — Gain Scenario with Autocall Redemption Event

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• Indicates Observation Date on which the Autocall Redemption Level is exceeded.

• Indicates Observation Dates on which there is a Digital Payout Event; therefore an Interest Payment will occur on the related Interest Payment Date.

• Solactive Enbridge AR 3.66 Index

In this scenario, the Closing Level is at or above the Autocall Redemption Level on the Observation Date that falls 36 months into the term of the Securities. This would constitute an Autocall Redemption Event and the Bank would redeem the Securities on the next succeeding Autocall Redemption Date. The Closing Level is at or above the Coupon Barrier Level on 36 Observation Dates prior to the Autocall Redemption Date.

(i) Interest Payments

Digital Payout Events occur on each of the 36 Observation Dates. Therefore, an Interest Payment would be payable for each Interest Period on the applicable Interest Payment Date (including on the Autocall Redemption Date), for total Interest Payments of:

Principal Amount of Securities × 1.0850% per Interest Period × 36 Interest Periods

$100.00 × 1.0850% × 36 = $39.06

(ii) Autocall Redemption Amount

The Autocall Redemption Amount per Security is equal to $100.00.

Therefore, the total amounts payable per Security from the Issue Date to the Autocall Redemption Date are:

(a) Total Interest Payments: $39.06

• (b) Autocall Redemption Amount: $100.00

• (c) Total amount paid over the term of the Securities: $139.06

The equivalent annually compounded rate of return in this example is 11.62%.

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Initial Estimated Value:

The initial estimated value of the Securities on or about the date of the Pricing Supplement was $93.55 per Security, which is less than the price to the public and is not an indication of the actual profit to the Bank or its affiliates. The actual value of the Securities at any time will reflect many factors and may be less than this amount. The initial estimated value of the Securities is an estimate only and does not represent a minimum price at which the Bank, RBC DS or any of our affiliates would be willing to purchase the Securities in any secondary market. We describe our determination of the initial estimated value in more detail in the Pricing Supplement.

Information Regarding the	Observation Dates	Interest Payment Dates	Autocall Redemption Dates
Observation Dates, Interest Payment Dates and the	August 6, 2024	August 9, 2024	-
Autocall Redemption Dates:	September 4, 2024	September 9, 2024	-
	October 4, 2024	October 9, 2024	-
	November 6, 2024	November 12, 2024	-
	December 4, 2024	December 9, 2024	-
	January 6, 2025	January 9, 2025	-
	February 5, 2025	February 10, 2025	-
	March 5, 2025	March 10, 2025	-
	April 4, 2025	April 9, 2025	-
	May 6, 2025	May 9, 2025	-
	June 4, 2025	June 9, 2025	-
	July 4, 2025	July 9, 2025	July 9, 2025
	August 6, 2025	August 11, 2025	August 11, 2025
	September 4, 2025	September 9, 2025	September 9, 2025
	October 6, 2025	October 9, 2025	October 9, 2025
	November 5, 2025	November 10, 2025	November 10, 2025
	December 4, 2025	December 9, 2025	December 9, 2025
	January 6, 2026	January 9, 2026	January 9, 2026
	February 4, 2026	February 9, 2026	February 9, 2026
	March 4, 2026	March 9, 2026	March 9, 2026
	April 6, 2026	April 9, 2026	April 9, 2026
	May 6, 2026	May 11, 2026	May 11, 2026
	June 4, 2026	June 9, 2026	June 9, 2026
	July 6, 2026	July 9, 2026	July 9, 2026
	August 5, 2026	August 10, 2026	August 10, 2026
	September 3, 2026	September 9, 2026	September 9, 2026
	October 6, 2026	October 9, 2026	October 9, 2026
	November 4, 2026	November 9, 2026	November 9, 2026
	December 4, 2026	December 9, 2026	December 9, 2026
	January 6, 2027	January 11, 2027	January 11, 2027
	February 4, 2027	February 9, 2027	February 9, 2027
	March 4, 2027	March 9, 2027	March 9, 2027
	April 6, 2027	April 9, 2027	April 9, 2027
	May 5, 2027	May 10, 2027	May 10, 2027

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June 4, 2027	June 9, 2027	June 9, 2027
July 6, 2027	July 9, 2027	July 9, 2027
August 4, 2027	August 9, 2027	August 9, 2027
September 3, 2027	September 9, 2027	September 9, 2027
October 6, 2027	October 12, 2027	October 12, 2027
November 4, 2027	November 9, 2027	November 9, 2027
December 6, 2027	December 9, 2027	December 9, 2027
January 5, 2028	January 10, 2028	January 10, 2028
February 4, 2028	February 9, 2028	February 9, 2028
March 6, 2028	March 9, 2028	March 9, 2028
April 5, 2028	April 10, 2028	April 10, 2028
May 4, 2028	May 9, 2028	May 9, 2028
June 6, 2028	June 9, 2028	June 9, 2028
July 5, 2028	July 10, 2028	July 10, 2028
August 3, 2028	August 9, 2028	August 9, 2028
September 6, 2028	September 11, 2028	September 11, 2028
October 4, 2028	October 10, 2028	October 10, 2028
November 6, 2028	November 9, 2028	November 9, 2028
December 6, 2028	December 11, 2028	December 11, 2028
January 4, 2029	January 9, 2029	January 9, 2029
February 6, 2029	February 9, 2029	February 9, 2029
March 6, 2029	March 9, 2029	March 9, 2029
April 4, 2029	April 9, 2029	April 9, 2029
May 4, 2029	May 9, 2029	May 9, 2029
June 6, 2029	June 11, 2029	June 11, 2029
July 4, 2029	July 9, 2029	July 9, 2029
August 3, 2029	August 9, 2029	August 9, 2029
September 5, 2029	September 10, 2029	September 10, 2029
October 3, 2029	October 9, 2029	October 9, 2029
November 6, 2029	November 9, 2029	November 9, 2029
December 5, 2029	December 10, 2029	December 10, 2029
January 4, 2030	January 9, 2030	January 9, 2030
February 6, 2030	February 11, 2030	February 11, 2030
March 6, 2030	March 11, 2030	March 11, 2030
April 4, 2030	April 9, 2030	April 9, 2030
May 6, 2030	May 9, 2030	May 9, 2030
June 5, 2030	June 10, 2030	June 10, 2030
July 4, 2030	July 9, 2030	July 9, 2030
August 6, 2030	August 9, 2030	August 9, 2030

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September 4, 2030	September 9, 2030	September 9, 2030
October 4, 2030	October 9, 2030	October 9, 2030
November 6, 2030	November 12, 2030	November 12, 2030
December 4, 2030	December 9, 2030	December 9, 2030
January 6, 2031	January 9, 2031	January 9, 2031
February 5, 2031	February 10, 2031	February 10, 2031
March 5, 2031	March 10, 2031	March 10, 2031
April 4, 2031	April 9, 2031	April 9, 2031
May 6, 2031	May 9, 2031	May 9, 2031
June 4, 2031	June 9, 2031	June 9, 2031
July 3, 2031	July 8, 2031	-

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The Underlying Index is calculated and published by Solactive AG (“ Solactive ”), and the name “ Solactive ” is a registered trademark of Solactive. The Underlying Index has been licensed for use by the Bank in connection with the Securities. The Securities are not sponsored, promoted, sold or supported in any other manner by Solactive and Solactive makes no representation or warranty, express or implied, regarding the advisability of investing in securities generally or the Securities in particular. Solactive does not guarantee the accuracy or completeness of the Underlying Index or the Target Index, any data included therein, or any data from which it is derived, nor has any liability for any errors, omissions, or interruptions therein.

All capitalized terms unless otherwise defined have the meanings ascribed to them in the Pricing Supplement.

Clients should evaluate the financial, market, legal, regulatory, credit, tax and accounting risks and consequences of the proposal before entering into any transaction, or purchasing any instrument. Clients should evaluate such risks and consequences independently of Royal Bank of Canada and the Dealers, RBC Dominion Securities Inc. (“ RBC DS ”) and Wellington-Altus Private Wealth Inc., respectively. RBC DS is a wholly-owned subsidiary of the Bank. Consequently, the Bank is a related and connected issuer of RBC DS within the meaning of applicable securities legislation.

The Securities will not constitute deposits insured under the Canada Deposit Insurance Corporation Act or any other deposit insurance regime. The Securities are not fixed income securities and are not designed to be alternatives to fixed income or money market instruments.

An investment in the Securities involves risks. None of Royal Bank of Canada, the Dealers or any of their respective affiliates, associates, or any other person or entity guarantees that holders of Securities will receive an amount equal to their original investment in the Securities or guarantees that any return will be paid on the Securities (subject to the minimum amount payable at maturity of $1.00 per Security) at or prior to maturity of the Securities. See “Risk Factors” in the base shelf prospectus and “Risk Factors” in the Pricing Supplement. Since the Securities are not principal protected and the Principal Amount will be at risk, you could lose substantially all of your investment.

® Registered trademark of Royal Bank of Canada

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