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Subordinated liabilities (Tables)
12 Months Ended
Dec. 31, 2024
Subordinated liabilities.  
Schedule of subordinated liabilities

    

2024

    

2023

£m

£m

Dated loan capital

 

5,996

 

5,573

Undated loan capital

 

21

 

22

Preference shares

 

119

 

119

  

 

6,136

 

5,714

Schedule of issuances and redemptions

First call

Maturity

Capital

2024

2023

Dated loan capital

date

date

    

treatment

    

£m

    

£m

NatWest Group plc

 

  

 

  

 

  

$2,250 million

5.125% notes

May-24

Tier 2

418

£1,000 million

3.622% notes

May-25

Aug-30

Tier 2

1,006

985

£1,000 million

2.105% notes

Aug-26

Nov-31

Tier 2

1,001

1,000

$1,000 million

6.475% notes

Mar-29

Jun-34

Tier 2

799

$850 million

3.032% notes

Aug-30

Nov-35

Tier 2

550

541

€750 million

1.043% notes

Jun-27

Sep-32

Tier 2

624

652

$750 million

3.754% notes

Nov-24

Nov-29

Tier 2

592

€700 million

5.763% notes

Nov-28

Feb-34

Tier 2

608

636

£650 million

7.416% notes

Mar-28

Jun-33

 

Tier 2

 

644

 

657

£600 million

5.642% notes

Oct-29

Oct-34

Tier 2

608

  

 

  

 

5,840

 

5,481

Other subsidiaries

€170 million

Floating rate notes

Feb-41

Not applicable

234

237

$150 million

7.125% notes

Oct-93

Not applicable

17

17

 

6,091

 

5,735

Fair value hedging

(95)

(162)

5,996

5,573

Undated loan capital

 

  

 

  

 

  

Other subsidiaries

£31 million

7.380% notes

Not applicable

1

1

£16 million

5.630% notes

Sep-26

Not applicable

17

18

£4.9 million

2.500% fixed notes

Not applicable

3

3

21

22

Preference shares

Other subsidiaries

 

  

 

  

 

  

£140 million

Non-cumulative preference shares of £1

Not applicable

119

119

119

119

Total

6,136

5,714