Company: BCDRF
Filing Date: 2025-01-07
Form Type: 6-K
Source: 0001193125-25-002490
Chunk: 2

Company: Banco Santander, S.A.
Filing Date: 2025-01-07
Form: 6-K
Chunk 2
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 a given series that are validly tendered and accepted pursuant to the Offers (the “Consideration”) will be determined in accordance with standard market practice, as described in the Offer to Purchase using the applicable yield to maturity for such series as the discount rate, which will be equal to the sum of (i) the yield, as calculated by the Dealer Manager, that equates to the bid-sideprice of the reference U.S. Treasury security specified in the table above for such series of Notes on the Price Determination Date, plus (ii) the applicable fixed spread specified in the table above for such series of Notes.

In addition to the Consideration, the Notes validly tendered and accepted for purchase and payment pursuant to the Offers will be entitled to accrued and unpaid interest up to, but not including, the settlement date, which is expected to be on or around January 17, 2025 (the “Accrued Interest”). Santander offers to purchase for cash the Notes in an aggregate principal amount for which the aggregate Consideration, excluding Accrued Interest, does not exceed $2,000,000,000 (the “Maximum Purchase Consideration”), subject to the Maximum Purchase Consideration being sufficient to pay the Consideration, excluding Accrued Interest, for all validly tendered Notes of such series (after accounting for all validly tendered Notes that have a higher Acceptance Priority Level) (the “Maximum Purchase Consideration Condition”). If the Maximum Purchase Consideration Condition is not satisfied with respect to each series of Notes, Santander will accept Notes for purchase in the order of their respective acceptance priority level specified in the table above (each level, an “Acceptance Priority Level,” with 1 being the highest Acceptance Priority Level and 4 being the lowest Acceptance Priority Level). A series of Notes with a particular Acceptance Priority Level may not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase. Santander reserves the right, but is under no obligation, to waive the Maximum Purchase Consideration Condition with respect to one or more Offers and accept all Notes of the series sought in such Offer, and of any series of Notes sought in Offers with a higher Acceptance Priority Level, validly tendered and not validly withdrawn or skip any Offer for Notes that would have caused the Maximum Purchase Consideration to be exceeded and purchase all Notes of the next sequential series with a lower Acceptance Priority Level that Santander is able to accept without exceeding the