Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 190

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 190
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 convertible capital securities of such series; “CNMV” means the Spanish Market Securities Commission ( Comisión Nacional del Mercado de Valores); “Common Shares” means ordinary shares in the capital of Banco Santander; “Conversion Price” means, on the Trigger Event Notice Date, if the Common Shares are:

| (a) | then admitted to trading on a Relevant Stock Exchange, the higher of: |

| (i) | the Current Market Price of a Common Share (converted into U.S. dollars at the Prevailing Rate, with respect to 
 any series of contingent convertible capital securities denominated in U.S. dollars);                           |

| (ii) | the Floor Price, subject to the adjustments in accordance with “—Anti-Dilution Adjustment of the 
 Floor Price” below; and                                                                          |

| (iii) | the nominal value of a Common Share (converted into U.S. dollars at the Prevailing Rate, with respect to any 
 series of contingent convertible capital securities denominated in U.S. dollars);                            |

in each case on the Trigger Event Notice Date; or

| (b) | not then admitted to trading on a Relevant Stock Exchange, the higher of (ii) and (iii) above. |

For the avoidance of doubt, the conversion into U.S. dollars at the Prevailing Rate described above with respect to any series of contingent convertible capital securities denominated in U.S. dollars shall in no circumstances imply that any Common Share will be issued at a price of less than its nominal value expressed in the Share Currency. “Conversion Settlement Date” means the date on which the relevant Common Shares are to be delivered following a Trigger Conversion, which shall be as soon as practicable and in any event not later than one month following (or such other period as Applicable Banking Regulations may require) the Trigger Event Notice Date and notice of the expected Conversion Settlement Date and of the Conversion Price shall be given to holders of contingent convertible capital securities in accordance with “ —Notices” below not more than ten (10) Business Days following the Trigger Event Notice Date; “Conversion Shares” means the number of Common Shares to be issued on Trigger Conversion in respect of each contingent convertible capital security of any series to be converted; “CRD IV” means any or any combination of the CRD IV Directive, the CRR, and any CRD IV Implementing Measures; “CRD IV Directive” means Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013