NatWest Group plc Prices $1.0B Senior Fixed-to-Fixed Reset Rate Notes Due 2032

Offering Overview

NatWest Group plc has filed a prospectus supplement pursuant to Rule 424(b)(5) for the public offering of $1,000,000,000 aggregate principal amount of 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032.

Key Terms of the Notes

• Issuer: NatWest Group plc
• Principal Amount: $1,000,000,000
• Public Offering Price: 100.000%
• Underwriting Discount: 0.250% ($2,500,000)
• Net Proceeds to Issuer: $997,500,000 (before estimated expenses)
• Issue Date: October 16, 2026
• Maturity Date: October 16, 2032
• Initial Coupon Rate: 5.908% per annum, payable semi-annually in arrear on April 16 and October 16, commencing April 16, 2027, through October 16, 2031.
• Reset Rate: From October 16, 2031 to maturity, the notes bear interest at a rate per annum equal to the 1-year U.S. Treasury Rate plus 0.900%.
• Ranking: Direct, unconditional, unsecured, and unsubordinated obligations ranking pari passu with all other unsecured and unsubordinated obligations.

Redemption & Call Features

• Optional Redemption: Callable at NatWest Group's sole discretion, in whole but not in part, on October 16, 2031 at 100% of principal plus accrued and unpaid interest.
• Special Redemption: Subject to PRA approval, redeemable upon the occurrence of a Loss Absorption Disqualification Event or certain adverse tax law changes.
• UK Bail-in Power: The securities are subject to the exercise of UK statutory bail-in powers by the relevant UK resolution authority.

Use of Proceeds

The net proceeds will be used by NatWest Group plc to fund its general banking business.