REG - Banco Santander S.A. - Optional early redemption ISIN XS1793250041

Banco Santander SAAnnouncement

20/01/2025 09:30

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RNS Number : 9467T  Banco Santander S.A.  20 January 2025

 

Banco Santander, S.A., in compliance with the Securities Market legislation,
hereby communicates the following:

INSIDE INFORMATION

Banco Santander, S.A. (the "Issuer" or "Banco Santander") announces its
decision to carry out the optional early redemption of all outstanding EUR
1,500,000,000 4,75%. Non-Step-Up Non-Cumulative Contingent Convertible
Perpetual Preferred Tier 1 Securities, with ISIN code XS1793250041 and common
code 179325004, for a nominal total value of one hundred eighty-seven million
six hundred thousand euros (EUR 187,600,000), which are traded on the Global
Exchange Market of the Irish Stock Exchange (the "CoCos").

The early redemption of all of the outstanding CoCos, which has been
authorised by the European Central Bank, will be carried out on the first
optional early redemption window on the seventh anniversary date of the
issuance, falling on the distribution payment date falling on 19 March 2025,
pursuant to Conditions of the Preferred Securities of the relevant prospectus
of the CoCos (Offering Circular dated 13 March 2018) (the "Terms and
Conditions"). The decision of the Issuer to exercise the optional early
redemption right is irrevocable, and holders of the CoCos are being informed
by means of this announcement of inside information and other foreseen
notices, in the form, within the required timeframe, and for the purposes set
out in Conditions 6 and 11 of the Terms and Conditions.

The early redemption price, which will be equal to the outstanding nominal
value (liquidation preference in the terminology of the prospectus) of each
CoCo plus any accrued and unpaid distribution associated to each CoCo up to
(but excluding) 19 March 2025, will be paid on such date to the holders of the
Preferred Securities by the Principal Paying Agent, in accordance with the
Terms and Conditions.

 

Boadilla del Monte (Madrid), 20 January 2025

 

 

IMPORTANT INFORMATION

Not a securities offer

This document and the information it contains does not constitute an offer to
sell nor the solicitation of an offer to buy any securities.

 

 

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