Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 19

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 19
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 of the relevant series of the Notes in accordance with the terms described under “Description of Debt Securities—Notices” in the accompanying prospectus (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 Notes of such series at their principal amount, together with any accrued and unpaid interest thereon to 
 (but excluding) the date fixed for redemption.                                                                                                                                                                                                         |

| Redemption of the Notes on the basis of a TLAC/MREL Disqualification Event 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 (including, without limitation, in accordance with Articles 77 and 78a of the CRR) in force at the relevant time.                                                 |

| “TLAC/MREL Disqualification Event” means any time that all or part of the outstanding principal amount of a series                                                                                                                                 
 of Notes does not fully qualify as TLAC/MREL Eligible Instruments of Banco Santander and/or the Group, except where such non-qualification (i) is due solely to the remaining maturity of the Notes of such                                        
 series being less than any period prescribed for TLAC/MREL Eligible Instruments by the Applicable Banking Regulations as at the issue date of the Notes of such series, or (ii) is as a result of the Notes of such series being bought back by or 
 on behalf of Banco Santander or                                                                                                                                                                                                                    |

S-6

| a buy back of the Notes of such series which is funded by or on behalf of Banco Santander. |

| “TLAC/MREL Eligible Instrument” means an instrument that is eligible to be counted towards the TLAC and/or MREL, and, for the avoidance of doubt, irrespective of the quantum limitation that may be applicable 
 to certain types of instruments by the Applicable Banking Regulations.                                                                                                                                          |

| See “Description of Debt Securities—Redemption and Repurchase—Early Redemption of Senior Debt Securities for a TLAC/MREL Disqualification Event” in the accompanying prospectus. |

| Clean-up Redemption | If 75% or more of the initial aggregate principal amount of a series of Notes (which, for the avoidance of doubt, includes any additional issuances issued subsequently and constituting a single series of securities under the Base Indenture, as 
 described under “Description of Debt Securities—Additional Issuances” in the accompanying