REG - Natwest Markets PLC - Implement Successor Rate and Adjustment Spread

NatwestAnnouncement

30/04/2021 10:00

RNS Number : 2138X
  
Natwest Markets PLC
  
30 April 2021
  
 

NatWest Markets Plc
Notice of implementation of Successor Rate and Adjustment Spread
in relation to
USD 5,000,000 Floating Rate Notes due January 2024 (XS1944307872)
and 
USD 20,000,000 Floating Rate Notes due January 2024 
(to be consolidated and form a single series with the USD 5,000,000 Floating Rate Notes due January 2024) (XS1944307872)
 
(together, the "Notes")
 
30 April 2021
On 27 April 2021, NatWest Markets Plc (the "Issuer") announced that it had determined that a "Benchmark Event" had occurred under the terms and conditions of the Notes (the "Announcement").
The Announcement set out the Independent Adviser's determination of the "Successor Rate" and "Adjustment Spread" in respect of the Notes, which are effective from the interest period commencing today, 30 April 2021. Subsequent to the Announcement, consistent with the timing requirements of Euroclear SA/NV and Clearstream Banking, S.A., the Independent Adviser has adjusted the length of the backward-shifted observation period from 2 business days to 5 business days.
On 29 April 2021, the Issuer executed the documentation to effect the implementation of the "Successor Rate" and "Adjustment Spread" in respect of the Notes.
Accordingly, interest on the Notes will be calculated on the basis of the Successor Rate plus the Adjustment Spread, and the original Margin. Interest will continue to be paid quarterly.
For further information please contact your usual NatWest Markets contact or:
 
NatWest Group Investor Relations
Paul Pybus
Head of Debt Investor Relations
+44 20 7672 1758
 
NatWest Group Media Relations

+44 131 523 4205
This announcement is not, and does not constitute or form any part of, an offer to sell or the solicitation, invitation or recommendation to purchase any securities of NatWest Markets plc. The securities discussed in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and the securities may not be offered or sold in the United States or to, or for the account or benefit of, any "U.S. person" (within the meaning of Regulation S under the Securities Act) unless they have been registered under the Securities Act, or are offered or sold in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and any other applicable U.S. state securities laws or local securities laws.
 



 
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NatWest Markets Plc


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