RBS-NatWest prices $1.6bn in notes

The Royal Bank of Scotland Group plc said on Wednesday it completed the pricing of its $1 billion in 3.073% senior callable fixed-to-fixed reset rate notes due 2028 and $600 million in 2.359% senior callable fixed-to-fixed reset rate green notes due 2024.

“The proceeds to RBSG (before expenses and underwriting discounts) of USD 1,000,000,000 from the 2028 Notes will be used to fund RBSG’s general banking business,” said RBS.

“The proceeds to RBSG (before expenses and underwriting discounts) of USD 600,000,000 from the Green Notes will be used to finance and/or refinance, in whole or in part, Eligible Green Loans, as defined in and in accordance with RBSG’s Green, Social and Sustainability Bond Framework.

“The offering is scheduled to close on 22 May 2020, subject to the satisfaction of customary conditions.

“RBSG has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates …”

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