Filed Pursuant to Rule 433
Registration Statement No. 333-259205
Registration Statement No. 333-259205
August 9, 2022
Index (USD) Volatility p.a. (%) 3 Sharpe Ratio4 12 Month Return Worst
Drawdown Beta 1Y 5Y Base 1Y 5Y Base Best Worst (%) DUW5 1Y 5Y Index (I) 0.0 16.7 16.5 ‐0.14 0.05 0.20 82.8 ‐36.8 ‐36.9 54 0.00 0.48 Benchmark
(B) 18.6 17.4 20.2 ‐1.08 0.08 0.09 113.5 ‐61.3 ‐65.2 117 1.00 1.00 Variation (I) ‐ (B) ‐18.6 ‐0.7 ‐3.7 0.94 ‐0.03 0.11 ‐30.6 24.6 28.4 ‐62 ‐ ‐ Index (USD) Return (%) 2 Return p.a. (%) YoY Return
(%) 1M 3M YTD 1Y 3Y 5Y Base ’17 ’18 ’19 ’20 ’21 Index (I) 0.1 0.3 0.3 0.4 ‐1.9 0.6 2.6 31.4 3.5 ‐2.0 ‐9.7 2.6 Benchmark (B) ‐0.2 ‐6.5 ‐17.8 ‐20.1 0.9 1.0 0.4 37.3 ‐14.6 18.4 18.3 ‐2.5 Variation (I) ‐
(B) 0.4 6.8 18.2 20.5 ‐2.8 ‐0.4 2.2 ‐5.9 18.1 ‐20.5 ‐28.0 5.2 Index Description The Index provides exposure to either Emerging Markets equities or cash (the Federal Funds rate). This allocation determination is based on
monthly observations of a pre‐ defined Tactical Trigger: the 100 daily moving average (100 DMA) of the iShares MSCI Emerging Markets ETF (Bloomberg: EEM US Equity; the ETF). The Index obtains exposure to Emerging Markets equities by tracking
the performance of the futures contract. On the specified monthly determination date, if the ETF is at or above its 100 DMA (a bullish trend), the Index will allocate to equity via the MSCI Emerging Markets futures contract plus the Federal
Funds rate (to replicate the total return) or only to the Federal Funds rate if the ETF is below its relevant 100 DMA (a bearish trend). Index Objectives: The RBC Emerging Market Tactical Equity Total Return Index is designed to meet or
exceed risk‐ adjusted returns relative to the benchmark by optimizing asset allocation between Emerging Markets equities and cash. This dynamic asset allocation is implemented by observing bullish or bearish trends in Emerging Markets
equities, on a monthly basis, to determine the exposure until the next monthly observation. Index Ticker Symbols: Bloomberg: RBCEETUT Index Thomson Reuters: .RBCEETUT Index Launch Date: February 18, 2019 Index Base Date: October 31,
2007 Asset Class: Equity Fixed Income (Cash) Allocations: MSCI Emerging Markets Futures contract Federal Funds Rate Last Allocation Date: July 13, 2022 Benchmark: MSCI EM Net Total Return USD Index Bloomberg: M1EF Index Thomson
Reuters: .MIEF00000NUS Liquidity: The Index tracks equity futures and cash. The tracked futures contract averages significantly in excess of $1bn in daily trading volume. Availability: Investors cannot invest directly in the Index. The
Index can be used as an underlying for various investment vehicles to provide exposure to investors. RBC Emerging Market Tactical Equity Total Return Index Performance Factsheet Performance1, 2 – Total Return (USD) 1 Daily data from
October 31, 2007 to July 31, 2022. Index re‐based to 100 on October 31, 2007. Please see the final page for important information about the presentation of the performance information set forth in this document 2 Source: Solactive AG,
Bloomberg, RBC Capital Markets 3 Based on daily returns, annualized with a 252‐day factor 4 Based on the average of daily excess returns against Fed Funds, annualized with a 252‐day factor 5 Duration Under Water: number of months taken by
the Index and the Benchmark to increase back to their respective previous highest level after a market decline July 31, 2022 20 Page 3 of 4 60 100 140 180 Oct 07 Jun 09 Feb 11 Sep 12 May 14 Dec 15 Aug 17 Apr 19 Nov 20 Jul 22 Index
Benchmark
$25 $30 $35 EEM Price Determination Date Allocation Date MSCI Emerging Markets Futures Cash Index Performance * Benchmark
Performance * July 11, 2022 July 13, 2022 0% 100% TBD** TBD** June 13, 2022 June 15, 2022 0% 100% 0.1% ‐4.2% May 16, 2022 May 18, 2022 0% 100% 0.1% ‐0.9% April 11, 2022 April 13, 2022 0% 100% 0.0% ‐7.5% March 14,
2022 March 16, 2022 0% 100% 0.0% 3.7% February 14, 2022 February 16, 2022 0% 100% 0.0% ‐13.0% January 14, 2022 January 19, 2022 0% 100% 0.0% 0.4% December 13, 2021 December 15, 2021 0% 100% 0.0% 2.3% November 15,
2021 November 17, 2021 0% 100% 0.0% ‐5.5% October 11, 2021 October 13, 2021 0% 100% 0.0% 2.2% September 13, 2021 September 15, 2021 0% 100% 0.0% ‐2.0% August 16, 2021 August 18, 2021 0% 100% 0.0% 2.3% Allocation
History1 (over last 12 months) $20 Jul 18 Jan 19 Jul 19 Jan 20 Jul 20 Jan 21 Jul 21 Jan 22 Jul 22 Monthly Returns (%, as of July 31, 2022) July 31,
2022 Index Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2022 0.0% 0.0% 0.0% 0.0% 0.1% 0.1% 0.1% 0.3% 2021 2.9% 0.9% ‐0.7% 1.1% ‐0.9% 1.6% ‐2.2% 0.0% 0.0% 0.0% 0.0% 0.0% 2.6% 2020 ‐6.1% ‐3.8% ‐23.8% 0.0% 0.0% 0.1% 8.5% 2.9% ‐0.8% 1.2% 9.1% 7.3% ‐9.7% 2019 0.2% 1.0% 1.2% 2.4% ‐6.1% 0.2% ‐2.2% ‐7.4% ‐2.0% 4.1% ‐0.2% 7.7% ‐2.0% 2018 8.2% ‐5.8% 0.4% ‐0.2% 0.1% 0.1% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 3.5% 2017 2.4% 1.8% 3.4% 1.9% 2.6% 1.0% 5.7% 2.1% 0.1% 3.3% ‐0.3% 3.7% 31.4% 2016 0.0% 0.0% 3.4% 0.6% ‐3.9% 4.4% 5.6% 0.8% 2.9% ‐1.0% ‐6.7% 0.0% 5.8% Benchmark Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2022 ‐1.9% ‐3.0% ‐2.3% ‐5.6% 0.4% ‐6.6% ‐0.2% ‐17.8% 2021 3.1% 0.8% ‐1.5% 2.5% 1.1% 1.3% ‐6.7% 2.6% ‐4.0% 1.0% ‐4.1% 1.9% ‐2.5% 2020 ‐4.7% ‐5.3% ‐15.4% 9.2% 0.8% 7.4% 8.9% 2.2% ‐1.6% 2.1% 9.2% 7.4% 18.3% 2019 8.8% 0.2% 0.8% 2.1% ‐7.3% 6.2% ‐1.2% ‐4.9% 1.9% 4.2% ‐0.1% 7.5% 18.4% 2018 8.3% ‐4.6% ‐2.0% ‐0.3% ‐3.5% ‐4.2% 2.2% ‐2.7% ‐0.5% ‐8.7% 4.1% ‐2.6% ‐14.6% 2017 5.5% 3.1% 2.5% 2.2% 3.0% 1.0% 6.0% 2.2% ‐0.4% 3.5% 0.2% 3.6% 37.3% 2016 ‐6.5% ‐0.2% 13.2% 0.5% ‐3.7% 4.0% 5.0% 2.5% 1.3% 0.2% ‐4.6% 0.2% 11.2% Date Determination Last July
11, 2022 Next August 15, 2022 Allocation July 13, 2022 August 17, 2022 100 DMA iShares MSCI Emerging Market ETF (EEM) As of Last Determination Date (July 11, 2022) Indicator Closing Level Tactical Trigger Emerging Market
(EEM) 39.02 9.2% BELOW 100 DMA As of Month End (July 31, 2022) Indicator Closing Level Distance from DMA Emerging Market (EEM) 39.96 ‐4.6% 1 Determination Date was two business days prior to Allocation Date * Performances between
current and next Allocation Date; ** To be determined on the next Allocation Date (August 17, 2022) Allocation Snapshot (as of July 31, 2022) Characteristics Snapshot $60 $55 $50 $45 $40 Current Allocation 100% Fixed Income (as of
July 13, 2022) Page 3 of 4
Summary of Index Methodology: July 31, 2022 RBC Emerging Market Tactical Equity Total Return Index Tactical Trigger – Determined 2
Trading Days Before Allocation 100‐day Moving Average iShares MSCI EM ETF (EEM) Bearish Tactical Trigger iShares MSCI EM ETF Spot below the Tactical Trigger Monthly Allocation – Is Tactical Trigger Bullish or Bearish? Bullish Tactical
Trigger iShares MSCI EM ETF Spot above the Tactical Trigger MSCI EM Future + Federal Funds Rate OR Federal Funds Rate Page 3 of 4
July 31, 2022 This communication has been generated by employees of RBC Capital Markets’ Global Equity Linked Products, and is not a
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of Canada. Used under license. All rights reserved. Important Information About the Historical Performance of the Index The Index was launched on February 18, 2019. Accordingly, all of the information about the performance of the Index
prior to that date is based on hypothetical back‐tested information. The hypothetical performance of the Index is based on criteria that have been applied retroactively with the benefit of hindsight; these criteria cannot account for all
financial risk that may affect the actual performance of the Index in the future. The future performance of the Index may vary significantly from the hypothetical performance data in this document. For example, the futures contracts and ETF
upon which the Index is based did not exist during all the periods shown; accordingly, we have used other related financial assets for those periods, when needed. In addition, please note that the back‐tested performance of the Index set
forth in this document does not reflect the deduction of any fees and charges that would be applicable to a financial instrument that references the Index. For the full Index methodology, please visit the following link:
www.solactive.com Page 3 of 4