TIDMNWG

RNS Number : 8416X

NatWest Group plc

31 August 2022

31 August 2022

Notice of adjustment of the Conversion Price for NatWest Group plc's (the "Company") Subordinated Contingent Convertible Additional Tier 1 Capital Notes

The Company announced on 25 August 2022 that the resolutions proposed at the General Meeting seeking approval by its shareholders of the Special Dividend and Share Consolidation (both as defined in the shareholder circular dated 9 August 2022) and related matters, as well as the resolution proposed at the Class Meeting seeking approval by the ordinary shareholders to sanction the Share Consolidation and the amendment to its Articles proposed at the General Meeting, were duly passed. The Company further announced on 30 August 2022 that the Share Consolidation had taken effect at 8.00 a.m. (BST) on such date (the "Effective Date").

The Company hereby notifies the holders of each outstanding series of its Subordinated Contingent Convertible Additional Tier 1 Capital Notes listed below (each, a "Series") that, as a result of the Special Dividend and the Share Consolidation, the Conversion Price per ordinary share for each Series has been adjusted as set out in the table below (the "Adjustments"), in each case pursuant to the Conversion Price anti-dilution adjustment provisions of the applicable Supplemental Indenture in respect of each Series set out below:

 
     ISIN         Principal       Date        Final     Coupon                                                  Applicable 
                   Amount          of         Legal                  Listing      Conversion     Conversion    Supplemental 
                 Outstanding    Issuance     Maturity              and Trading       Price          Price      Indenture and 
                  (million)                                           Venue         before          after       Conversion 
                                                                                  Adjustments    Adjustments       Price 
                                                                                                               Anti-Dilution 
                                                                                                                Adjustment 
                                                                                                                 Provision 
                                                                                                               Section 3.01 
                                                                                                               of the Second 
                                                                                                               Supplemental 
                                                                                                                 Indenture 
                                                                                                                   dated 
                                                                  Irish Stock                                   August 10, 
 US780099CK11      $1,150      10/08/2015   Perpetual   8.000%      Exchange       $3.295*         $3.314          2015 
                ------------  -----------  ----------  -------  --------------  -------------  -------------  -------------- 
                                                                 International                                 Section 4.01 
                                                                  Securities                                   of the Fourth 
                                                                   Market of                                   Supplemental 
                                                                  the London                                     Indenture 
                                                                     Stock                                         dated 
 US780097BQ34      $1,500      29/06/2020   Perpetual   6.000%     Exchange         $2.179         $2.191      June 29, 2020 
                ------------  -----------  ----------  -------  --------------  -------------  -------------  -------------- 
                                                                 International     GBP1.754       GBP1.764     Section 4.01 
                                                                  Securities                                   of the Sixth 
                                                                   Market of                                   Supplemental 
                                                                  the London                                     Indenture 
                                                                     Stock                                         dated 
                                                                   Exchange                                    November 12, 
 XS2258827034     GBP1,000     12/11/2020   Perpetual   5.125%                                                     2020 
                ------------  -----------  ----------  -------  --------------  -------------  -------------  -------------- 
                                                                 International     GBP1.754       GBP1.764     Section 4.01 
                                                                  Securities                                      of the 
                                                                   Market of                                      Seventh 
                                                                  the London                                   Supplemental 
                                                                     Stock                                       Indenture 
                                                                   Exchange                                        dated 
                                                                                                                 March 12, 
 XS2315966742      GBP400      12/03/2021   Perpetual   4.500%                                                     2021 
                ------------  -----------  ----------  -------  --------------  -------------  -------------  -------------- 
                                                                 International                                 Section 4.01 
                                                                  Securities                                   of the Eighth 
                                                                   Market of                                   Supplemental 
                                                                  the London                                     Indenture 
                                                                     Stock                                         dated 
 US639057AD02       $750       28/06/2021   Perpetual   4.600%     Exchange         $2.448         $2.462      June 28, 2021 
                ------------  -----------  ----------  -------  --------------  -------------  -------------  -------------- 
 

The Adjustments became effective on the Effective Date, which was also the date on which the Company's ordinary shares were marked ex-entitlement for purposes of the Special Dividend.

Apart from the Adjustments listed above, the terms and conditions of each Series remain unchanged.

Capitalized terms in respect of a Series not otherwise defined in this notice shall have the meaning given to them in relevant Supplemental Indenture of such Series.

* The Conversion Price before adjustments in respect of this Series reflects an initial adjustment of the original Conversion Price per ordinary share from $3.606 to $3.504 as a result of the special dividend paid by the Company on 30 April 2019 and a subsequent adjustment from $3.504 to $3.295 as a result of the special dividend paid by the Company on 20 September 2019, in each case pursuant to Section 3.01 of the Second Supplemental Indenture dated August 10, 2015.

For further information, please contact:

Scott Forrest

Head of NatWest Treasury DCM

NatWest Group plc

Tel: +44 (0)7747 455969

Paul Pybus

Investor Relations

NatWest Group plc

Tel: +44 (0)7769 161183

This notice has been prepared solely for information purposes and is not intended to, and does not constitute or form part of, and should not be construed as, an offer to sell or the solicitation of an offer to buy any security of the Company.

 
Legal Entity Identifier 
NatWest Group plc        2138005O9XJIJN4JPN90 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCSDSFWFEESEEA

(END) Dow Jones Newswires

August 31, 2022 13:23 ET (17:23 GMT)

Natwest (LSE:NWG)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Natwest.
Natwest (LSE:NWG)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Natwest.