Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 193

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 193
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 dealt in (other than a day on which the Relevant Stock Exchange or relevant stock exchange or securities market is scheduled to or does close prior to its regular weekday closing time); “Delivery Notice” means a notice in the form for the time being currently available from the specified office of any Paying and Conversion Agent or in such form as may be acceptable to DTC from time to time, which contains the relevant account and related details for the delivery of any ADSs or Common Shares and all relevant certifications and/or representations as may be required by applicable law and regulations (or is deemed to constitute the confirmation thereof), and which are required to be delivered in connection with a conversion of the contingent convertible capital securities and the delivery of the ADSs or Common Shares; “Distribution” means the non-cumulativecash distribution in respect of the contingent convertible capital securities and a Distribution Period determined in accordance with “ —Distributions” below; “Distribution Payment Date” shall have the meaning as determined in the relevant prospectus supplement; “Distribution Period” means the period from and including one Distribution Payment Date (or, in the case of the first Distribution Period, the date of issuance) to but excluding the next Distribution Payment Date; “Distribution Rate” means the rate at which the contingent convertible capital securities accrue Distributions in accordance with “ —Distributions” below; “Dividend” means any dividend or distribution to Shareholders in respect of the Common Shares (including a Spin-Off)whether of cash, assets or other property (and for these purposes a distribution of assets includes without limitation an issue of Common Shares or other Securities credited as fully or partly paid up by way of capitalization of profits or reserves), and however described and whether payable out of share premium account, profits, retained earnings or any other capital or revenue reserve or account, and including a distribution or payment to Shareholders upon or in connection with a reduction of capital provided that:

| (a) | where: |

| (i) | a Dividend in cash is announced which is to be, or may at the election of a Shareholder or Shareholders be,                                                                                                                                             
 satisfied by the issue or delivery of Common Shares or other property or assets, or where a capitalization of profits or reserves is announced which is to be, or may at the election of a Shareholder or Shareholders be, satisfied by the payment of  
 cash, then the Dividend in question shall be treated as a Cash Dividend of an amount equal to the greater of (A) the Fair Market Value of such