REG - Banco Santander S.A. - Optional early redemption ISIN XS1602466424

Banco Santander SAAnnouncement

01/03/2022 16:31

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RNS Number : 2634D  Banco Santander S.A.  01 March 2022

 

 

Banco Santander, S.A. (the "Issuer" or "Banco Santander"), in compliance with
the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

Banco Santander, S.A. announces its decision to carry out the optional early
redemption of all outstanding Non-Step-Up Non-Cumulative Contingent
Convertible Perpetual Preferred Tier 1 Securities, with a nominal total value
of EUR 750,000,000, with ISIN code XS1602466424 and common code 160246642,
which are traded on the Global Exchange Market of the Irish Stock Exchange
(the "CoCos").

The redemption of all of the outstanding CoCos, which has been authorised by
the European Central Bank, will be carried out on the First Reset Date falling
on 25 April 2022 (the "First Reset Date"), pursuant to Conditions of the
Preferred Securities of the relevant prospectus of the CoCos (Offering
Circular dated 19 April 2017) (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 other
relevant 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) the First Reset Date, will be paid to the holders of the
Preferred Securities by the Principal Paying Agent, in accordance with the
Terms and Conditions, on 25 April 2022.

 

Boadilla del Monte (Madrid), March 1st, 2022

 

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