Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 173

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 173
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 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 in
accordance with, the relevant prospectus supplement), together with any accrued and unpaid interest thereon to (but excluding) the date fixed for redemption.

The Clean-up Redemption is subject to Banco Santander obtaining prior Supervisory Permission 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. Clean-up Redemption of subordinated debt securities may be
made only after five years from their date of issuance or any other minimum period permitted by the Applicable Banking Regulations.

Optional Early Redemption (Call)

Unless otherwise specified in the relevant prospectus supplement, Banco Santander may, upon the expiration of the appropriate notice (described
below) and subject to such conditions as may be specified in the

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relevant prospectus supplement, redeem in whole (