NatWest to Redeem £500M AT1 Securities
Ticker: RBSPF · Form: 6-K · Filed: Nov 6, 2024 · CIK: 844150
| Field | Detail |
|---|---|
| Company | Natwest Group PLC (RBSPF) |
| Form Type | 6-K |
| Filed Date | Nov 6, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-redemption, capital-management, contingent-convertible-securities
TL;DR
NatWest is calling back £500M in AT1 bonds on Nov 6, 2024.
AI Summary
NatWest Group plc announced the redemption of its £500,000,000 4.875% Fixed Rate Reset Perpetual Contingent Convertible Securities on November 6, 2024. The redemption price is 100% of the principal amount, plus accrued interest.
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 redemption notice for a financial instrument, not indicative of new risks.
Key Numbers
- £500.0M — Principal Amount (Amount of securities being redeemed)
- 4.875% — Fixed Rate (Coupon on the redeemed securities)
Key Players & Entities
- NatWest Group plc (company) — Issuer of securities
- £500,000,000 (dollar_amount) — Principal amount of securities to be redeemed
- 4.875% (dollar_amount) — Interest rate of the securities
- November 6, 2024 (date) — Redemption date
FAQ
What is the specific name of the securities being redeemed?
The securities are the £500,000,000 4.875% Fixed Rate Reset Perpetual Contingent Convertible Securities.
What is the redemption date for these securities?
The redemption date is November 6, 2024.
What is the redemption price?
The redemption price is 100% of the principal amount, plus accrued interest.
What is the principal amount of the securities to be redeemed?
The principal amount is £500,000,000.
What is the interest rate of the securities being redeemed?
The interest rate is 4.875%.
Filing Stats: 485 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-11-06 09:27:44
Filing Documents
- a2166l.htm (6-K) — 23KB
- 0001654954-24-013785.txt ( ) — 24KB
Signatures
Signatures   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.           NATWEST GROUP plc (Registrant)                                     Date: 06 November 2024   By:             Name: Mark Stevens         Title: Assistant Secretary