<SEC-DOCUMENT>0001654954-22-010967.txt : 20220810
<SEC-HEADER>0001654954-22-010967.hdr.sgml : 20220810
<ACCEPTANCE-DATETIME>20220810140903
ACCESSION NUMBER:		0001654954-22-010967
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220810
FILED AS OF DATE:		20220810
DATE AS OF CHANGE:		20220810

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NatWest Group plc
		CENTRAL INDEX KEY:			0000844150
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10306
		FILM NUMBER:		221151380

	BUSINESS ADDRESS:	
		STREET 1:		GOGARBURN
		STREET 2:		PO BOX 1000
		CITY:			EDINBURGH, SCOTLAND
		STATE:			X0
		ZIP:			EH12 1HQ
		BUSINESS PHONE:		441315568555

	MAIL ADDRESS:	
		STREET 1:		GOGARBURN
		STREET 2:		PO BOX 1000
		CITY:			EDINBURGH, SCOTLAND
		STATE:			X0
		ZIP:			EH12 1HQ

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL BANK OF SCOTLAND GROUP PLC
		DATE OF NAME CHANGE:	19950712
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a6288v.htm
<DESCRIPTION>FINANCIAL IMPACT OF TENDER OFFERS
<TEXT>
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FORM 6-K</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SECURITIES AND EXCHANGE COMMISSION</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Washington D.C. 20549</font></div>
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Report of Foreign Private Issuer</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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Pursuant to Rule 13a-16 or 15d-16</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
of the Securities Exchange Act of 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">For
August 10, 2022</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Commission
File Number: 001-10306</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">NatWest
Group plc</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">RBS,
Gogarburn, PO Box 1000</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Edinburgh
EH12 1HQ</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">(Address
of principal executive offices)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;Form
20-F <font style="text-decoration: underline">X</font> Form 40-F
___</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">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):_________</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">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):_________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">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.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Yes ___
No <font style="text-decoration: underline">X</font></font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
________</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">
The following information was issued as&#xA0;Company announcements
in London, England and is furnished pursuant to General Instruction
B to the General Instructions to Form
6-K:</font>&#xA0;</font></div>
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&#xA0;</font></div>
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&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: right; margin-left: 0px; margin-right: 19px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">August
10, 2022</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">
&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000; font-size: 16px">NATWEST GROUP
PLC AND NATWEST MARKETS N.V.</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">-</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 16px">FINANCIAL
IMPACT OF SEPARATE</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 16px">CASH</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 16px">TENDER</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 16px">OFFERS</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 16px">FOR</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 16px">CERTAIN
OF THEIR RESPECTIVE OUTSTANDING</font><font style="color: #000000; font-family: Times New Roman">&#xA0;</font><font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">NOTES</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #00714E; font-family: Times New Roman; font-size: 16px">
&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 14px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">NatWest Group plc ("</font><font style="font-weight: bold; color: #000000">NatWest
Group</font><font style="color: #000000">") and NatWest Markets
N.V. ("</font><font style="font-weight: bold; color: #000000">NWM
N.V.</font><font style="color: #000000">") (each an
"</font><font style="font-weight: bold; color: #000000">Offeror</font><font style="color: #000000">" and, together, the "</font><font style="font-weight: bold; color: #000000">Offerors</font><font style="color: #000000">") announced on 9 August 2022 the results of their
separate cash tender offers (with respect to the tender offers
launched by NatWest Group, the "</font><font style="font-weight: bold; color: #000000">NatWest Group
Offer</font><font style="color: #000000">", and with respect to the
tender offers launched by NWM N.V., the "</font><font style="font-weight: bold; color: #000000">NWM N.V.
Offer</font><font style="color: #000000">", each an
"</font><font style="font-weight: bold; color: #000000">Offer</font><font style="color: #000000">") in respect of any and all of certain series of
their respective U.S. dollar denominated notes pursuant to separate
offers to purchase dated August 1, 2022 (each an
"</font><font style="font-weight: bold; color: #000000">Offer to
Purchase</font><font style="color: #000000">").</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 14px; text-indent: 0px">
<font style="background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
NatWest Group estimates the aggregate impact of the NatWest Group
Offer and the NWM N.V. Offer will be a charge to income in its Q3
2022 results of approximately &#xA3;56 million, with the final
charge dependent on the foreign exchange rate on August 10, 2022.
After taking into account the estimated effect of taxation, and
based on risk weighted assets of &#xA3;179.8 billion as reported
for June 30, 2022, this would equate to a reduction in NatWest
Group's CET1 capital ratio of approximately 3bps.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 14px; text-indent: 0px">
<font style="background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
NWM N.V. estimates the impact of the NWM N.V. Offer will be a
charge to income in its Q3 2022 results of approximately &#x20AC;83
million. After taking into account the estimated effect of
taxation, and the effect of the unwinding of a related hedging
transaction with NatWest Group, NWM N.V. does not expect a material
impact on its CET1 capital ratio.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-weight: bold; font-family: Times New Roman; font-size: 13px">
FORWARD-LOOKING&#xA0;STATEMENTS</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
From time to time, the Offerors may make statements, both written
and oral, regarding our assumptions, projections, expectations,
intentions or beliefs about future events.&#xA0; These statements
constitute "forward-looking statements". The Offerors caution that
these statements may and often do vary materially from actual
results. Accordingly, the Offerors cannot assure you that actual
results will not differ materially from those expressed or implied
by the forward-looking statements. You should read the sections
entitled "Risk Factors" in the relevant Offer to Purchase, in the
Annual Report and H1 2022 Interim Report of the relevant Offeror
which is incorporated by reference therein and "Forward-Looking
Statements" in the Annual Report and H1 2022 Interim Report of the
relevant Offeror, which is incorporated by reference in the
relevant Offer to Purchase.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
Any forward-looking statements made herein, including in connection
with the expected charge to income and CET1 ratio impact of each
Offer, or in the documents incorporated by reference herein speak
only as of the date they are made. Except as required by the U.K.
Financial Conduct Authority (the "<font style="font-weight: bold">FCA</font>") or the Dutch Authority for the
Financial Markets (the "<font style="font-weight: bold">AFM</font>"), as applicable, any applicable
stock exchange or any applicable law, the Offerors expressly
disclaim any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statement contained in
the relevant Offer to Purchase or the documents incorporated by
reference herein to reflect any changes in expectations with regard
thereto or any new information or any changes in events, conditions
or circumstances on which any such statement is based. The reader
should, however, (i) with respect to NatWest Group consult any
additional disclosures that NatWest Group has made or may make in
documents that NatWest Group has filed or may file with the U.S.
Securities and Exchange Commission and (ii) with respect to NWM
N.V. consult any additional disclosures that NWM N.V. has made or
may make in documents that NWM N.V. has filed or may file with the
AFM.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 12px; margin-right: 5px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Legal Entity Identifiers</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NatWest Group plc</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NatWest Markets N.V.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date:&#xA0;10
August 2022</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">NATWEST
GROUP plc (Registrant)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By: /s/
Jan Cargill</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Name:
Jan Cargill</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Governance Officer and Company Secretary</font></div>
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