NatWest Group issues $1B in notes due 2032

The note package includes a supplemental indenture with The Bank of New York Mellon as trustee and legal opinions on Scots and New York law.

Rhea-AI Filing Summary

NatWest Group plc (NWG) issued $1,000,000,000 of 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032 on October 16, 2026.

The transaction materials include an underwriting agreement and pricing agreement dated October 13, 2026, and a seventeenth supplemental indenture dated October 16, 2026, between NatWest Group and The Bank of New York Mellon, as trustee. Legal opinions address the notes’ validity as to certain matters of Scots law and New York law.

Filing Explained

Form 6-K is an interim report for material information; this report is incorporated into NatWest’s Form F-3 registration statement from October 16, 2026, and forms part of it unless later filings supersede it.

Key Figures

Note principal: $1,000,000,000 Stated note rate: 5.908% Maturity: 2032 +1 more

4 metrics

Note principal $1,000,000,000 Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032

Stated note rate 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032

Maturity 2032 Senior Callable Fixed-to-Fixed Reset Rate Notes

Issue date October 16, 2026 Notes issued by NatWest Group plc

Key Terms

Senior Callable Fixed-to-Fixed Reset Rate Notes, Seventeenth Supplemental Indenture, Global Note, Underwriting Agreement, +1 more

5 terms

Senior Callable Fixed-to-Fixed Reset Rate Notes financial

"5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032"

Seventeenth Supplemental Indenture financial

"Seventeenth Supplemental Indenture between NatWest Group plc and The Bank of New York Mellon"

Global Note financial

"Form of Global Note for the $1,000,000,000 notes"

Underwriting Agreement financial

"Underwriting Agreement between NatWest Group plc and NatWest Markets Securities Inc."

An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.

Pricing Agreement financial

"Pricing Agreement between NatWest Group plc and NatWest Markets Securities Inc."

A pricing agreement is a contract that sets how much a buyer will pay and under what conditions a seller will charge for a product or service, often including discounts, rebates, or volume-based terms. Like agreeing in advance on the price and rules for a long-running service, it gives both sides predictability; for investors it matters because it directly affects a company’s revenue, profit margins and how reliably future sales can be forecasted.

FAQ

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

How much did NatWest Group (NWG) issue in notes?

NatWest Group issued $1,000,000,000 of notes on October 16, 2026. They are 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032.

What is the rate and maturity of NWG’s notes?

The notes have a stated rate of 5.908% and are due in 2032. They were issued on October 16, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/16/2026 - 04:37 PM EDT Accepted by SEC EDGAR 10/16/2026 - 04:36 PM EDT 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
OF THE SECURITIES EXCHANGE ACT OF 1934

October 16, 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   ☐

This report on Form 6-K shall be deemed incorporated by reference into the company’s Registration Statement on Form F-3 (File No. 333-284008) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

Index of Exhibits

Exhibit No.		Description
1.1		Underwriting Agreement between NatWest Group plc and NatWest Markets Securities Inc., dated as of October 13, 2026.
1.2		Pricing Agreement between NatWest Group plc and NatWest Markets Securities Inc., dated as of October 13, 2026.
4.1		Amended and Restated Indenture between NatWest Group plc, as issuer, and The Bank of New York Mellon, as trustee, dated as of December 13, 2017 (incorporated herein by reference to Exhibit 4.3 of the Registrant’s Registration Statement on Form F-3 (File No. 333-284008) filed with the Commission on December 23, 2024).
4.2		Seventeenth Supplemental Indenture between NatWest Group plc, as issuer, and The Bank of New York Mellon, as trustee, dated as of October 16, 2026.
4.3		Form of Global Note for the $1,000,000,000 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032 (included in Exhibit 4.2 hereof).
5.1		Opinion of CMS Cameron McKenna Nabarro Olswang LLP, Scottish legal advisors to NatWest Group plc as to the validity of the $1,000,000,000 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032 of NatWest Group plc, issued on October 16, 2026, as to certain matters of Scots law.
5.2		Opinion of Davis Polk & Wardwell London LLP, U.S. legal advisors to NatWest Group plc as to the validity of the $1,000,000,000 5.908% Senior Callable Fixed-to-Fixed Reset Rate Notes due 2032 of NatWest Group plc, issued on October 16, 2026, as to certain matters of New York law.

SIGNATURE

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

	NatWest Group plc
	(Registrant)
Date: October 16, 2026	By:	/s/ Mark Stevens
	Name:	Mark Stevens
	Title:	Assistant Secretary

Filing Exhibits & Attachments

5 documents

Other Documents

• EX-1.1 EXHIBIT 1.1 284.3 KB
• EX-1.2 EXHIBIT 1.2 39.3 KB
• EX-4.2 EXHIBIT 4.2 181.6 KB
• EX-5.1 EXHIBIT 5.1 16.1 KB
• EX-5.2 EXHIBIT 5.2 15.4 KB