NatWest Group to redeem $1B 2027 senior notes

NatWest Group plc has given formal notice that it will redeem all of its outstanding $1,000,000,000 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027.

Rhea-AI Filing Summary

NatWest Group plc has given formal notice that it will redeem all of its outstanding $1,000,000,000 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027.

The company has elected to redeem these notes in full on 2 March 2026 in accordance with Section 11.09 of the Amended and Restated Indenture dated 13 December 2017, as supplemented on 2 March 2023.

Insights

Credit and capital structure analyst

NatWest is exercising its call option to redeem $1B of 2027 notes.

NatWest Group has elected to redeem all outstanding 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027, with a current principal amount of $1,000,000,000. The redemption will occur on 2 March 2026 under the terms of the governing indenture.

This action removes this specific debt instrument ahead of its 2027 maturity, using the call feature set out in Section 11.09 of the indenture. The filing does not describe the funding source for the redemption or any replacement financing.

Investors in these notes face a defined end date of 2 March 2026, after which the notes will no longer be outstanding. Future company disclosures may provide broader context on NatWest’s overall funding and capital management strategy around this redemption.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NatWest Group plc (NWG) announce in this 6-K filing?

NatWest Group plc announced it will redeem all of its outstanding 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027. The notes have a current principal amount of $1,000,000,000 and will be redeemed in full on 2 March 2026 under the indenture terms.

How much debt is NatWest Group plc (NWG) redeeming and on what date?

NatWest Group plc is redeeming 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes with a principal amount of $1,000,000,000. The company has set 2 March 2026 as the redemption date for all outstanding notes, in accordance with Section 11.09 of the governing indenture.

What type of notes is NatWest Group plc (NWG) redeeming?

NatWest Group plc is redeeming its 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027. These notes were issued under an Amended and Restated Indenture dated 13 December 2017, as supplemented by an Eleventh Supplemental Indenture dated 2 March 2023, and total $1,000,000,000 in principal.

Why is the NatWest Group plc (NWG) note redemption considered an early call?

The notes being redeemed are due 2027, but NatWest Group plc has elected to call them on 2 March 2026 under a callable feature. The filing states the redemption is being made pursuant to Section 11.09 of the indenture, which governs the company’s right to redeem before stated maturity.

Where can investors find the full NatWest Group plc (NWG) redemption notice?

Investors can access the full redemption notice via the link provided: http://www.rns-pdf.londonstockexchange.com/rns/6146S_1-2026-2-11.pdf. The 6-K filing references this document as the detailed notice to holders of the $1,000,000,000 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027.

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Accepted by SEC EDGAR 02/11/2026 - 06:51 AM EST Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

February, 2026

Commission File Number 001-10306

NatWest Group plc

250 Bishopsgate,

London, EC2M 4AA

United Kingdom

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

The following information was issued as Company announcements in London, England and is furnished pursuant to General Instruction B to the General Instructions to Form 6-K:

NatWest Group plc

11 February 2026

Notice of Redemption

NatWest Group plc (the "Company")

The Company hereby gives notice to holders of the $1,000,000,000 5.847% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2027 issued by the Company pursuant to the Amended and Restated Indenture dated 13 December 2017 as amended and supplemented by the Eleventh Supplemental Indenture dated 2 March  2023 (together, the "Indenture") (ISIN: US639057AJ71; CUSIP: 639057AJ7) (the "Notes") of the upcoming redemption of all of the outstanding Notes on 2 March 2026. The amount currently outstanding of the Notes is $1,000,000,000.  

The Company has elected to redeem the Notes on 2 March 2026 in accordance with the Indenture. The Notes are being redeemed pursuant to Section 11.09 of the Indenture.

To view the notice, please click on the link below.

http://www.rns-pdf.londonstockexchange.com/rns/6146S_1-2026-2-11.pdf

For further information, please contact:

Scott Forrest

Head of NatWest Treasury DCM

Tel: +44 (0)7747 455969

Legal Entity Identifier
NatWest Group plc	2138005O9XJIJN4JPN90

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			NatWest Group plc (Registrant)
Date:	11 February 2026			By:	/s/ Mark Stevens
				Name:	Mark Stevens
				Title:	Assistant Secretary