Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 718

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 718
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, S.A. issued subordinated obligations for an amount of USD 1,250million (valued at EUR 1,158million) for a term of 10years. The issuance was made at par and the issue coupon was set at 6.35% per year, payable bi-annually. On 8 February 2024, Banco Santander, S.A., proceeded to prepay all of the contingently convertible Tier 1 preferred shares with ISIN code XS1951093894, for a total nominal amount of USD 1,200million (valued at EUR 1,110million) and that were traded on the Irish Stock Exchange 'Global Exchange Market' (the 'PPCC'). On 22 January 2024, Banco Santander, S.A. issued subordinated bonds for an amount of EUR 1,250million for a term of 10 years and 3 months. The issue was carried out at 99.74% and the issue coupon was set at 5% per year for the first 5 years and 3 months, with an amortization option in April 2029, reviewing the coupon, in case of non-amortization, at a fixed rate equivalent to a margin of 250points plus the 5-yearEuro swap rate. At 29 December 2023, Banco Santander, S.A., proceeded to prepay all the Tier 1 Contingently Convertible Preferred Securities with ISIN code XS1692931121 for a total nominal amount of EUR 1,000million and which were traded on the Irish Stock Market 'Global Exchange Market' (the 'PPCC'). At 21 November 2023, Banco Santander, S.A., carried out a placement of twoseries of contingently convertible preferred shares into newly issued ordinary shares of the Bank, for a total nominal amount of USD 1,150million (EUR 1,054million at the exchange rate on the day of issue) and USD 1,350million (EUR 1,235million at the exchange rate on the day of issue), respectively. The issue was carried out at par and the remuneration of the PPCC, whose payment is subject to certain conditions and is also discretionary, was set (i) for the first Series at 9.625% annually for the first five years and six months, being reviewed every five yearsthereafter by applying a margin of 530.6basis points on the five-yearUST rate (