Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 58

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 58
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 each holder and beneficial owner of the Notes of such series, by virtue of its holding of any Notes of such series
or any interest therein, and the Trustee acting on behalf of such holders, shall be deemed to have waived all such rights of set-off, netting, compensation or retention. If, notwithstanding the
above, any amounts due and payable to any holder or beneficial owner of a Note of any series or any interest therein by Banco Santander in respect of, or arising under, the Notes of such series are discharged
by set-off, such holder or beneficial owner shall, subject to applicable law, immediately pay an amount equal to the amount of such discharge to Banco Santander (or, if the event of any voluntary or
involuntary liquidation of Banco Santander shall have occurred, the liquidator or administrator of Banco Santander, as the case may be) and, until such time as payment is made, shall hold an amount equal to such amount in trust (where possible) or
otherwise for Banco Santander (or the liquidator or administrator of Banco Santander, as the case may be) and, accordingly, any such discharge shall be deemed not to have taken place.

S-35

Listing We intend to apply for the listing of the Notes on the New York Stock Exchange in accordance with its rules. Governing Law, Submission to Jurisdiction The Base Indenture, the Third Supplemental Indenture and the Notes will be governed by and construed in accordance with the laws of the State of New York, except that the authorization and execution by Banco Santander of the Base Indenture, the Third Supplemental Indenture and the Notes, and certain provisions of the Notes, the Base Indenture and the Third Supplemental Indenture related to the ranking of the Notes, shall be governed by and construed in accordance with Spanish law. We, the Trustee and the holders of the Notes (by their acceptance of the Notes) irrevocably submit only to the jurisdiction of (i) any Federal or State court in the Borough of Manhattan, The City of New York, New York and (ii) the courts of a European Union member state or states that are parties to the Lugano II Convention and which have jurisdiction pursuant to the Brussels Ia Regulation and/or the Lugano II Convention, in any suit, action or proceeding arising out of or relating to the Base Indenture, the Third Supplemental Indenture, the Notes or the transactions contemplated thereby. We, the