Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 1

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 1
---
ars on the 2035 Fixed Rate Notes on May 6 and November 6 of each year, beginning on May 6, 2026. Unless we redeem the 2035
Fixed Rate Notes earlier, the 2035 Fixed Rate Notes will be due on November 6, 2035.

The Notes will be issued in minimum
denominations of $200,000 and integral multiples of $200,000 in excess thereof.

The payment obligations of Banco Santander, S.A.
(“Banco Santander”) in respect of principal under the Notes constitute direct, unconditional, unsubordinated and unsecured senior non preferred obligations (créditos ordinarios no preferentes) of Banco Santander and, in
accordance with Additional Provision 14.2 of Law 11/2015 (as defined herein), but subject to any other ranking that may apply as a result of any mandatory provision of law (or otherwise), upon the insolvency of Banco Santander, such payment
obligations rank (i)pari passu among themselves and with any other Senior Non Preferred Liabilities (as defined herein), (ii) junior to the Senior Higher Priority Liabilities (as defined herein) (and, accordingly, upon the insolvency of
Banco Santander, the payment obligations of Banco Santander in respect of principal under the Notes will be met after payment in full of the Senior Higher Priority Liabilities) and (iii) senior to any present and future subordinated obligations
(créditos subordinados) of Banco Santander in accordance with Article 281 of the Spanish Insolvency Law (as defined herein).

By its acquisition of the Notes, each holder (which, for the purposes of this clause, includes each holder of a beneficial interest in the Notes) acknowledges, accepts, consents to and agrees to be bound by the terms of the Notes related to the exercise of the Bail-inPower (as defined herein) set forth under“Description of Debt Securities—Agreement and Acknowledgement with Respect to the Exercise of the Bail-inPower” in the accompanying prospectus. See“Notice to Investors”on page S-iof this prospectus supplement for further information.

The Notes are not deposits or
savings accounts and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency of the Kingdom of Spain, the United States or any other jurisdiction.

We may redeem the Notes of any series, in whole but not in part, at 100% of their principal amount plus accrued