REG - NatWest Group plc NatWest Markets N.V. - Update to Financial Impact of Tender Offers

NatwestAnnouncement

12/08/2022 14:30

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RNS Number : 9079V  NatWest Group plc  12 August 2022

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August 12, 2022

 

NATWEST GROUP PLC AND NATWEST MARKETS N.V. - CONFIRMATION OF THE FINANCIAL
IMPACT OF SEPARATE CASH TENDER OFFERS FOR CERTAIN OF THEIR RESPECTIVE
OUTSTANDING NOTES

 

 

The table below sets out the expected reduction in post-tax profits in the
relevant reporting period of NatWest Group plc (on a consolidated and a solo
legal entity basis) and NatWest Markets N.V. ("NWM N.V.") following the
repurchase of their respective U.S. dollar denominated notes. This follows our
announcement released on 10 August 2022 at 6:18 pm under RNS No. 6282V.

 

                                       NatWest Group plc (consolidated)  NatWest Group plc (solo)  NWM N.V.

 Impact - Post tax gain / (loss)(1 )   £(124m)(2)                        £(55m)                    €(83m)(3)

 

1.   Determined using the applicable foreign exchange rates on August 10,
2022.

 

2.   After taking into account the estimated effect of taxation, and based
on risk weighted assets of £179.8 billion as reported for June 30, 2022, this
would equate to a reduction in NatWest Group plc's (consolidated) CET1 capital
ratio of approximately 7bps.

 

3.   After taking into account the estimated effect of taxation, and the
effect of the unwinding of a related hedging transaction with NatWest Group
plc (solo), NWM N.V. does not expect its repurchases to have a material impact
on its CET1 capital ratio.

 

 

 Legal Entity Identifiers
 NatWest Group plc          2138005O9XJIJN4JPN90
 NatWest Markets N.V.       X3CZP3CK64YBHON1LE12

 

 

FORWARD-LOOKING STATEMENTS

 

From time to time, NatWest Group plc and NWM N.V. (each, an "Offeror" and
together, the "Offerors") may make statements, both written and oral,
regarding their assumptions, projections, expectations, intentions or beliefs
about future events.  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" and the "Forward-Looking Statements" in the Annual Report and H1 2022
Interim Report of each  Offeror.

 

Any forward-looking statements made in this announcement, including in
connection with the expected reduction in post-tax profits and CET1 capital
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 "FCA") or the Dutch Authority for the
Financial Markets (the "AFM"), 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 relating
to each Offer 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 plc
consult any additional disclosures that NatWest Group plc has made or may make
in documents that NatWest Group plc 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.

 

 

 

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