We advised NatWest Group on the SEC-registered offering

Davis Polk advised NatWest Group plc, a public limited company incorporated under the laws of Scotland, in connection with its SEC-registered shelf takedown of $750 million aggregate principal amount of 7.300% reset perpetual subordinated contingent convertible additional Tier 1 capital notes.

NatWest Group plc is the holding company of a large banking and financial services group. NatWest Group operates in the United Kingdom through a network of branches, local banks and non-bank subsidiaries, as well as in Europe, the United States and elsewhere. NatWest Group is one of the largest financial institutions in the United Kingdom, and the banks within NatWest Group authorised in the United Kingdom include National Westminster Bank Plc, Royal Bank of Scotland Plc, NatWest Markets Plc and Coutts & Company. NatWest Group plc is listed on the London Stock Exchange and New York Stock Exchange.

The Davis Polk corporate team included partner Reuven B. Young, counsel Maxim Van de moortel and associates Tanu Sinha and Matt Meagher. The U.S. tax team included counsel Alon Gurfinkel and associate Valentin Van de Walle. Partner Dominic Foulkes and associate Patrick O’Donovan provided U.K. tax advice. Counsel Sarah E. Kim and associate Rosina Curren provided 1940 Act advice. Members of the Davis Polk team are based in the London and New York offices.

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