Company: BCDRF
Filing Date: 2025-02-06
Form Type: 6-K
Source: 0000950103-25-001676
Chunk: 10

Company: Banco Santander, S.A.
Filing Date: 2025-02-06
Form: 6-K
Chunk 10
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 such representation and warranty given by a Holder is correct and, if such investigation is undertaken
and as a result the Offeror, the Sole Dealer Manager or the Tender Agent determines (for any reason) that such representation and warranty
is not correct, such Offer to Sell shall not be accepted.

NEW NOTES

Any investment decision to purchase any New Notes
should be made solely on the basis of the information contained in (i) the base prospectus approved by the Central Bank of Ireland on
13 March 2024 in connection with the programme for the issuance of debt instruments of the Offeror, as supplemented by the supplement
thereto dated 9 August 2024 and 15 October 2024 (together, the “Base Prospectus”) and (ii) each of the final terms
in respect of the New Notes (when available). The Base Prospectus is available on the website of the Offeror and on the website of Euronext
Dublin (https://live.euronext.com/).

The offering of the New Notes may be restricted
by law in certain jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about and
observe any such restrictions. Any failure to comply with these restrictions could result in a violation of the laws of any such jurisdiction.

MiFID II product governance / Professional investors and

ECPs only target market– Solely for
the purposes of each manufacturer’s product approval process, the target market assessment in respect of the New Notes has led to
the conclusion that: (i) the target market for the New Notes is eligible counterparties and professional clients only, each as defined
in Directive 2014/65/EU, as amended (“MiFID II”); and (ii) all channels for distribution of the New Notes to eligible
counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the New Notes (a “distributor”)
should take into consideration the manufacturers’ target market assessment; however, a distributor subject to MiFID II is responsible
for undertaking its own target market assessment in respect of the New Notes (by either adopting or refining the manufacturers’
target market assessment) and determining appropriate distribution channels

EU PRIIPs Regulation / PROHIBITION OF SALES TO EEA RETAIL INVESTORS– The New Notes are not intended to be offered, sold or otherwise made available to and should not be
offered, sold or otherwise made available to any retail investor in the European Economic Area