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Natwest Group PLC

Prospectus Mar 23, 2021

4644_prs_2021-03-23_2cc30380-c1b6-4539-9e35-efbd9e825b4b.pdf

Prospectus

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SUPPLEMENTARY PROSPECTUS DATED 22 MARCH 2021

NatWest Group plc

(Incorporated in Scotland with limited liability under the Companies Acts 1948 to 1980, registered number SC045551)

£40,000,000,000 Euro Medium Term Note Programme

This supplement (the "2 nd Supplementary Prospectus") to the Prospectus dated 26 November 2020 (as supplemented, the "Prospectus"), which comprises a base prospectus for the purpose of Regulation (EU) 2017/1129, constitutes a supplementary prospectus for the purposes of Article 23 of the Regulation (EU) 2017/1129 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation") and has been prepared in connection with the £40,000,000,000 Euro Medium Term Note Programme (the "Programme") established by, NatWest Group plc (the "Issuer" or "NatWest Group"). Terms defined in the Prospectus have the same meaning when used in this 2 nd Supplementary Prospectus. This 2 nd Supplementary Prospectus is supplemental to, and should be read in conjunction with, the Prospectus and the documents incorporated by reference therein.

This 2 nd Supplementary Prospectus has been approved by the United Kingdom Financial Conduct Authority (the "FCA"), as competent authority under the UK Prospectus Regulation. The FCA only approves this 2 nd Supplementary Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the UK Prospectus Regulation. Such approval should not be considered as an endorsement of the Issuer that is the subject of this 2 nd Supplementary Prospectus. With effect from the date of this 2 nd Supplementary Prospectus the information appearing in, or incorporated by reference into, the Prospectus shall be supplemented in the manner described below.

The Issuer accepts responsibility for the information contained in this 2 nd Supplementary Prospectus. To the best of the knowledge of the Issuer such information is in accordance with the facts and makes no omission likely to affect its import.

Purpose of the Supplementary Prospectus

The purpose of this 2 nd Supplementary Prospectus is to

  • (a) incorporate by reference into the Prospectus:
  • (i) the FCA Money Laundering Investigation Announcement (as defined below); and
  • (ii) the Share Purchase Announcement (as defined below); and
  • (b) update certain information relation to legal proceedings.

Incorporation of Information by Reference

By virtue of this 2 nd Supplementary Prospectus:

  • (a) the announcement entitled "Update on FCA investigation into NatWest Group's compliance with the Money Laundering Regulations 2007" (the "FCA Money Laundering Investigation Announcement"), which was published via the regulatory news service of the London Stock Exchange plc on 16 March 2021; and
  • (b) the announcement entitled "Off-market purchase of 590,730,325 ordinary shares from Her Majesty's Treasury" (the "Share Purchase Announcement"), which was published via the regulatory news service of the London Stock Exchange plc on 19 March 2021,

each of which has been (1) previously published and (2) filed with the Financial Conduct Authority, shall be incorporated in, and form part of, the Prospectus.

For at least ten years from the date of the Prospectus, a copy of any or all of the information which is incorporated by reference in the Prospectus can be obtained from the website of the Issuer at https://investors.natwestgroup.com/regulatory-news/company-announcements and from the London Stock Exchange plc's website at https://www.londonstockexchange.com/news.

If a document which is incorporated by reference in the Prospectus by virtue of this 2 nd Supplementary Prospectus itself incorporates any information or other documents therein, either expressly or implicitly, such information or other documents will not form part of the Prospectus except where such information or other documents are specifically incorporated by reference in, or attached to, the Prospectus by virtue of this 2 nd Supplementary Prospectus.

Updating the legal proceedings disclosure set out in the Prospectus

The section entitled "Legal Proceedings" on page 87 of the Prospectus shall be deleted and replaced with the following:

"Legal Proceedings

For a description of the material governmental, legal or arbitration proceedings that NatWest Group and the Group face, see the section entitled "Litigation and regulatory matters" in the "Notes to the consolidated financial statements" on pages 315 to 319 of the 2020 Annual Report and Accounts of the Group and the FCA Money Laundering Investigation Announcement, each as referred to in, and incorporated by reference into, this Prospectus.".

Legal Proceedings

Other than as referred to in the section entitled "Litigation and regulatory matters" in the "Notes to the consolidated financial statements" on pages 315 to 319 of the 2020 Annual Report and Accounts of the Group and the FCA Money Laundering Investigation Announcement, there are no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the Issuer is aware), which may have or have had during the 12 months preceding the date of this 2 nd Supplementary Prospectus, a significant effect on the financial position or profitability of the Issuer or the Group.

Other Information

To the extent that there is any inconsistency between any statement in this 2 nd Supplementary Prospectus and any other statement in or incorporated by reference in the Prospectus, the statements in this 2 nd Supplementary Prospectus will prevail.

Save as disclosed in this 2 nd Supplementary Prospectus no other significant new factor, material mistake or material inaccuracy relating to information included in the Prospectus has arisen or been noted, as the case may be, since the publication of the Prospectus.

The hyperlinks included in this 2 nd Supplementary Prospectus are included for information purposes only and the websites and their content are not incorporated into, and do not form part of, this 2 nd Supplementary Prospectus or the Prospectus.

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