Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 158

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 158
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 terms described under
“—Notices” below (which notice shall be irrevocable) and a concurrent copy thereof to the Trustee, redeem in whole but not in part the outstanding subordinated debt securities of such series in accordance with the requirements
of Applicable Banking Regulations in force at the relevant time) at their early capital disqualification event redemption amount (the “Early Redemption Amount (Capital Disqualification Event)”) (which shall be their principal amount or
such other Early Redemption Amount (Capital Disqualification Event) as may be specified in or determined in the relevant prospectus supplement), together with any accrued and unpaid interest thereon to (but excluding) the date fixed for redemption;
provided, however, that the Regulator consents to redemption of the subordinated debt securities of such series.

Redemption for a
Capital Disqualification Event is subject to the prior consent of the Regulator if and as required under Applicable Banking Regulations and may only take place in accordance with Applicable Banking Regulations in force at the relevant time.

Early redemption at the option of Banco Santander (Clean-upRedemption)

If the relevant prospectus supplement specifies that the clean-up redemption option is applicable in
respect of any series and if 75% or any higher percentage specified in the relevant prospectus supplement (the “Clean-up Percentage”) of the initial aggregate nominal amount of such series (which,
for the avoidance of doubt, includes any additional issuances issued subsequently and constituting a single series of securities under the relevant indenture) have been redeemed or purchased by, or on behalf of, Banco Santander, Banco Santander may,
on any date that is an interest payment date, as its option and having given not less than five (5) nor more than 30 days’ notice (or such lesser period as may be specified in the relevant prospectus supplement) (ending, in the case of the
relevant securities which bear interest at a floating rate, on a day upon which interest is payable) to the holders of the relevant securities in accordance with the terms described under “—Notices” below (which notice shall be
irrevocable and shall specify the date for redemption) and a concurrent copy thereof to the Trustee, elect to redeem in whole but not in part the outstanding securities of such series.

The securities of the relevant series will be redeemed at their early redemption amount (the “Early Redemption Amount (Clean-up Call)”) (which shall be their principal amount or such other amount as may be specified in, or determined