Company Announcements

The Royal Bank of Scotland Group plc

25 June 2020

The Royal Bank of Scotland Group plc ("RBSG") completed the pricing of its USD 1,500,000,000 6.000% Reset Perpetual Subordinated Contingent Convertible Additional Tier 1 Capital Notes (the "Notes").

The proceeds to RBSG (before expenses and underwriting discounts) of USD 1,500,000,000 from the Notes will be used for general corporate purposes and to strengthen further RBSG's capital base or the capital base of RBSG's subsidiaries and/or the RBS Group. 

The offering is scheduled to close on 29 June 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 (the "SEC") for the offering to which this communication relates.  Investors should read the prospectus in such registration statement and other documents RBSG has filed with the SEC for more complete information about RBSG and this offering. You may get these documents for free by visiting the SEC web site at www.sec.gov.  Alternatively, copies may be obtained from NatWest Markets Securities Inc., toll free at 1-866-884-2071.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For further information, please contact:

Scott Forrest

Head of Debt Capital Markets and Capital Strategy

The Royal Bank of Scotland Group plc

Tel: +44 (0)7747 455969

Legal Entity Identifier:  2138005O9XJIJN4JPN90