NatWest to Redeem AT1 Capital Notes

TL;DR

NatWest is calling back its 2027 AT1 notes on Oct 28th.

AI Summary

NatWest Group plc announced a notice of redemption for its 5.875% Fixed Rate Resetting AT1 Capital Notes due 2027. The redemption date is set for October 28, 2024, with the principal amount of the notes being redeemed at par value.

Why It Matters

This action indicates NatWest is managing its capital structure, potentially optimizing its cost of funding or responding to regulatory changes.

Risk Assessment

Risk Level: low — This is a standard financial disclosure regarding debt redemption, not indicating new operational or market risks.

Key Numbers

• 5.875% — Interest Rate (Coupon rate of the AT1 Capital Notes)

Key Players & Entities

• NatWest Group plc (company) — Issuer of the notes
• 5.875% Fixed Rate Resetting AT1 Capital Notes due 2027 (financial_instrument) — Notes being redeemed
• October 28, 2024 (date) — Redemption date

FAQ

Key Financial Figures

• $750,000,000 — y hereby gives notice to holders of the $750,000,000 Fixed-to-Fixed Reset Rate Subordinated

Filing Documents

• a8559f.htm (6-K) — 19KB
• 0001654954-24-012330.txt ( ) — 21KB

From the Filing

OF REDEMPTION a8559f   FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549     Report of Foreign Private Issuer   Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934   For the month of September 26, 2024 Commission File Number: 001-10306   NatWest Group plc   Gogarburn, PO Box 1000 Edinburgh EH12 1HQ   (Address of principal executive offices)   Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   Form 20-F X Form 40-F ___   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.   Yes ___ No X   If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________         The following information was issued as Company announcements in London, England and is furnished pursuant to General Instruction B to the General Instructions to Form 6-K:           NatWest Group   plc September 26, 2024   Notice of Redemption     NatWest Group plc (the "Company")     The Company hereby gives notice to holders of the $750,000,000 Fixed-to-Fixed Reset Rate Subordinated Tier 2 Notes due 2029 issued by the Company pursuant to the Subordinated Debt Securities Indenture dated December 4, 2012, as amended and supplemented by the first supplemental indenture dated December 4, 2012, the fourth supplemental indenture dated May 28, 2014 and the fifth supplemental indenture dated November 1, 2019 (together, the “ Indenture ”) (ISIN: US780097BM20; CUSIP: 780097BM2) (the “ Notes ”) of the upcoming redemption of all of the outstanding Notes on November 1, 2024. The amount currently outstanding of the Notes is $750,000,000.   The Company has elected to redeem the Notes on November 1, 2024 in accordance with the Indenture. The Notes are being redeemed pursuant to Section 11.10 of the Indenture.   To view the notice, please click on the link below.   http://www.rns-pdf.londonstockexchange.com/rns/8557F_1-2024-9-26.pdf   For further information, please contact:   Scott Forrest Head of NatWest Treasury DCM Tel: +44 (0)7747 455969         Legal Entity Identifier     NatWest Group plc   2138005O9XJIJN4JPN90             Date: 26 September 2024           NATWEST GROUP plc (Registrant)       By: /s/ Jan Cargill       Name: Jan Cargill   Title: Chief Governance Officer and Company Secretary  

View Full Filing

View this 6-K filing on SEC EDGAR