REG - Banco Santander S.A. - Optional early redemption ISIN XS1692931121

Banco Santander SAAnnouncement

22/11/2023 07:15

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RNS Number : 3026U  Banco Santander S.A.  22 November 2023

 

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

OTHER RELEVANT INFORMATION

Banco Santander, S.A. (the "Issuer" or "Banco Santander") 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 ISIN code XS1692931121 and common code 169293112, for a
nominal total value of EUR 1,000,000,000, 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
distribution payment date falling on 29 December 2023, pursuant to Conditions
of the Preferred Securities of the relevant prospectus of the CoCos (Offering
Circular dated 27 September 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) 29 December 2023, 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), November 22nd, 2023

 

 

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.

Past performance does not indicate future outcomes

Statements about historical performance or growth rates must not be construed
as suggesting that future performance, share price or results (including
earnings per share) will necessarily be the same or higher than in a previous
period. Nothing in this document should be taken as a profit and loss
forecast.

 

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