Company: BCDRF
Filing Date: 2025-02-13
Form Type: 6-K
Source: 0000950103-25-001941
Chunk: 1

Company: Banco Santander, S.A.
Filing Date: 2025-02-13
Form: 6-K
Chunk 1
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 to the conditions set out in the Tender Offer Memorandum and at the
relevant Purchase Price: (i) €600,800,000 in aggregate principal amount of the EUR 2026 Notes; and (ii) €563,600,000 in aggregate
principal amount of the EUR 2027 Notes, as set out in the table below.

| Description of Notes                                                     | ISIN         | Maturity Date   | Aggregate principal amount accepted | Reference Benchmark                 | Reference Benchmark Yield | Purchase Spread | Purchase Yield | Purchase Price (expressed as a percentage) |
| €1,500,000,000 3.250 per cent. Subordinated Instruments due April 2026   | XS1384064587 | 4 April 2026    | €600,800,000                        | EUR 2026 Interpolated Mid-Swap Rate | 2.356%                    | +25 bps.        | 2.606%         | 100.701%                                   |
| €1,000,000,000 3.125 per cent. Subordinated Instruments due January 2026 | XS1548444816 | 19 January 2027 | €563,600,000                        | EUR 2027 Interpolated Mid-Swap Rate | 2.284%                    | +35 bps.        | 2.634%         | 100.905%                                   |

Notes purchased by the Offeror pursuant
to the Offer will be cancelled by the Offeror and will not be re-issued or re-sold. Notes which have not been validly submitted or validly
submitted but not accepted for purchase pursuant to the Offer will remain outstanding. Following the Settlement Date, there will be an
outstanding nominal amount of (i) €899,200,000 of EUR 2026 Notes and (ii) €463,400,000 of EUR 2027 Notes.

Payment of the relevant Tender Consideration
in respect of the Notes accepted for purchase by the Offeror will occur on the Settlement Date, which is expected to be 17 February 2025.

Any requests for information in relation
to the Offers should be directed to the Dealer Managers or the Tender Agent whose contact details are listed below.

| SOLE DEALER MANAGER                           |
| Santander Corporate and Investment Banking    
 Ciudad Grupo Santander                        
 Avenida de Cantabria s/n                      
 28660                                         
 Madrid, Spain                                 
 Attn: Liability Management                    
 Email: liabilitymanagement@gr