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
September 23, 2020
Commission
File Number: 001-10306
NatWest
Group plc
RBS,
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 if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(1):_________
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule
101(b)(7):_________
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
23 September 2020
NATWEST GROUP PLC - ESTIMATED IMPACT OF TENDER OFFERS FOR CERTAIN
OF ITS OUTSTANDING NOTES
Further to the announcement dated 22 September 2020 "Results of
tender offers for certain of its outstanding notes", NatWest Group
plc confirms that it has accepted $1,977,326,000 in aggregate
principal amount of the securities that were validly
tendered. This includes an amount due under Guaranteed
Delivery of $9,418,000, which is due to be confirmed at 10pm,
London time, 23 September 2020. The principal amount
outstanding prior to the tender offer was
$4,405,319,000.
NatWest Group plc undertook the offers in order to provide the
holders of the outstanding notes with an opportunity to have their
notes repurchased while maintaining a prudent approach to the
management of NatWest Group plc's capital position.
NatWest Group plc estimates the impact of this transaction will be
a charge to income in its Q3 results of approximately £325
million with the final charge dependent on foreign exchange rate
movements until the settlement date of 24 September 2020.
After taking into account the estimated effects of taxation, and
based on risk weighted assets of £181.5 billion as reported
for 30 June 2020, this would equate to a reduction in the CET1
capital ratio of approximately 15 bps.
FURTHER INFORMATION
Investor Relations
Alexander Holcroft
Head of Investor Relations
+44 (0) 20 7672 1758
Paul Pybus
Head of Debt Investor Relations
+44 (0)776 916 1183
Legal Entity Identifiers
NatWest Group plc 2138005O9XJIJN4JPN90
Forward-looking statements
This document contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, such as statements that include, without limitation,
the words 'expect', 'estimate', 'project', 'anticipate', 'commit',
'believe', 'should', 'intend', 'plan', 'could', 'probability',
'risk', 'Value-at-Risk (VaR)', 'target', 'goal', 'objective',
'may', 'endeavour', 'outlook', 'optimistic', 'prospects' and
similar expressions or variations on these expressions. These
statements concern or may affect future matters, such as NatWest
Group's future economic results, business plans and
strategies. In particular, this document may include
forward-looking statements relating to NatWest Group in respect of,
but not limited to: its regulatory capital position and related
requirements, its financial position, profitability and financial
performance (including financial, capital and operational targets),
its access to adequate sources of liquidity and funding, increasing
competition from new incumbents and disruptive technologies, its
exposure to third party risks, its ongoing compliance with the UK
ring-fencing regime and ensuring operational continuity in
resolution, its impairment losses and credit exposures under
certain specified scenarios, substantial regulation and oversight,
ongoing legal, regulatory and governmental actions and
investigations, the transition of LIBOR and IBOR rates to
alternative risk free rates and NatWest Group's exposure to
economic and political risks (including with respect to terms
surrounding Brexit and climate change), operational risk, conduct
risk, cyber and IT risk, key person risk and credit rating
risk. Forward-looking statements are subject to a number of
risks and uncertainties that might cause actual results and
performance to differ materially from any expected future results
or performance expressed or implied by the forward-looking
statements. Factors that could cause or contribute to differences
in current expectations include, but are not limited to, the final
number of PPI claims and their amounts, the level and extent of
future impairments and write-downs, including with respect to
goodwill, legislative, political, fiscal and regulatory
developments, accounting standards, competitive conditions,
technological developments, interest and exchange rate
fluctuations, general economic and political conditions and the
uncertainty surrounding the Covid-19 pandemic and its impact on
NatWest Group. These and other factors, risks and uncertainties
that may impact any forward-looking statement or NatWest Group
plc's actual results are discussed in NatWest Group plc's UK 2019
Annual Report and Accounts (ARA), NatWest Group plc's Interim
Results for Q1 2020 and NatWest Group plc's Interim Results for H1
2020 and materials filed with, or furnished to, the US Securities
and Exchange Commission, including, but not limited to, NatWest
Group plc's most recent Annual Report on Form 20-F and Reports on
Form 6-K. The forward-looking statements contained in this document
speak only as of the date of this document and NatWest Group plc
does not assume or undertake any obligation or responsibility to
update any of the forward-looking statements contained in this
document, whether as a result of new information, future events or
otherwise, except to the extent legally required.
Date: 23
September 2020
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NATWEST
GROUP plc (Registrant)
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By: /s/
Jan Cargill
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Name:
Jan Cargill
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Title:
Deputy Secretary
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