Business
Tender Offer
Tender Offer.
About this update from Natwest Group Plc
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL (SEE \"OFFER RESTRICTIONS\" BELOW).\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION ONLY AND IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANY SECURITIES.\n \n \n \n \n \n \n \n \n \n \n March 27, 2023\n \n \n \n NATWEST GROUP PLC COMMENCES\n \n \n CASH\n \n \n TENDER\n \n \n OFFER\n \n \n FOR\n \n \n ANY AND ALL OF ITS OUTSTANDING 5.125% SUBORDINATED TIER 2 NOTES DUE 2024\n \n \n NatWest Group plc (the \"Offeror\") has launched today a tender offer to purchase for cash (the \"Offer\") any and all of its outstanding 5.125% Subordinated Tier 2 Notes due 2024 (the \"Notes\").\n \n \n \n \n \n The Offer is being made on the terms and subject to the conditions set out in the offer to purchase dated March 27, 2023 and the related Notice of Guaranteed Delivery (together, the \"Offer to Purchase\"). Capitalized terms not otherwise defined in this announcement have the same meaning as in the Offer to Purchase.\n \n \n \n Purpose of the Offer\n \n \n \n \n \n \n The Offeror is providing the holders of its Notes with an opportunity to have their Notes repurchased while maintaining a responsible approach to the management of its capital position and its MREL (minimum requirement for own funds and eligible liabilities) position. The Offeror will continue to meet all of its capital requirements and MREL requirements, irrespective of the outcome of the Offer.\n \n \n \n \n Terms of the Offer\n \n \n \n \n \n The Offeror is offering to purchase for cash, on the terms and conditions described in the Offer to Purchase, any and all of the outstanding Notes, details of which are set out in the table below:\n \n \n \n \n \n \n \n Title of Security\n \n \n \n \n \n \n Issuer\n \n \n \n \n \n \n ISIN/CUSIP\n \n \n \n \n \n \n Principal Amount Issued\n \n \n \n \n \n \n Principal Amount Outstanding\n \n \n \n \n \n \n Maturity\n \n \n \n \n \n \n Fixed Spread (bps)\n \n \n \n \n \n \n Reference U.S. Treasury Security\n \n \n \n \n \n \n Bloomberg Reference Page\n \n \n \n \n \n \n Hypothetical Purchase Price (Illustrative)(1)\n \n \n \n \n \n \n \n \n \n 5.125% Subordinated...