Company: BCDRF
Filing Date: 2025-01-07
Form Type: 6-K
Source: 0001193125-25-002490
Chunk: 9

Company: Banco Santander, S.A.
Filing Date: 2025-01-07
Form: 6-K
Chunk 9
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 or payment for Notes tendered pursuant to the Offers, or to terminate the Offers and not accept for payment any Notes not previously accepted for purchase and
payment, (i) if any of the conditions to the Offers shall not have been satisfied or validly waived by the Offeror, or (ii) in order to comply in whole or in part with any applicable law.

Consideration

The Consideration payable for each series of
Notes will be calculated on the Price Determination Date. The applicable Consideration payable for each USD 1,000 principal amount of Notes of a given series that are validly tendered and accepted pursuant to the Offers will be determined in
accordance with standard market practice, as described in the Offer to Purchase using the applicable yield to maturity for such series as the discount rate, which will be equal to the sum of (i) the yield (the “Reference Yield”), as calculated by the Dealer Manager, that equates to the bid-side price of the Reference U.S. Treasury Security specified in the table above for such series of Notes on the Price
Determination Date, plus (ii) the applicable Fixed Spread specified in the table above for such series of Notes.

The applicable Consideration
for each series of Notes will be announced promptly after it is determined by the Dealer Manager.

In addition to the Consideration, the Notes
validly tendered and accepted for purchase and payment pursuant to the Offers will be entitled to accrued and unpaid interest up to, but not including, the Settlement Date (the “Accrued Interest”).

Maximum Purchase Consideration Condition

The
Offeror offers to purchase for cash the Notes in an aggregate principal amount for which the aggregate Consideration, excluding Accrued Interest, does not exceed USD 2,000,000,000 (the “Maximum Purchase Consideration”), subject
to the Maximum Purchase Consideration being sufficient to pay the Consideration, excluding Accrued Interest, for all validly tendered Notes of such series (after accounting for all validly tendered Notes that have a higher Acceptance Priority Level)
(the “Maximum Purchase Consideration Condition”).

If the Maximum Purchase Consideration Condition is not satisfied with respect to
each series of Notes, the Offeror will accept Notes for purchase in the order of their respective acceptance priority level specified in the table above (each level, an “Acceptance Priority Level,” with 1 being the highest
Acceptance Priority Level and 4 being the lowest Acceptance Priority Level). A series of Notes with a