Company: BCDRF
Filing Date: 2025-01-15
Form Type: 6-K
Source: 0000950103-25-000489
Chunk: 5

Company: Banco Santander, S.A.
Filing Date: 2025-01-15
Form: 6-K
Chunk 5
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 4              | 1.849%                                         
 Senior Non Preferred Fixed Rate Notes due 2026 | 05964HAL9/   
 US05964HAL96 | USD                
 1,500,000,000      | USD                         
 967.86                      | USD                          
 976,800,000                  | USD                          
 976,800,000                  | USD                                                
 200,000                                            |

| (1) | Excluding principal amounts of Notes tendered 
 using Guaranteed Delivery Procedures.         |

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 (the “Accrued Interest”).

In total, USD 3,450,600,000 aggregate principal
amount of Notes have been accepted for purchase (excluding Notes delivered using the Guaranteed Delivery Procedures).

Notes purchased by the Offeror pursuant to the
Offers are expected to be cancelled and will no longer remain outstanding. Notes which have not been validly tendered and accepted for
purchase pursuant to the Offers will remain outstanding. Following the Settlement Date, there will be an outstanding nominal amount of:
(i) USD 663,600,000 of the 3.496% Senior Preferred Fixed Rate Notes due 2025, (ii) USD 582,400,000 of the 2.746% Senior Non
Preferred Fixed Rate Notes due 2025, (iii) USD 778,000,000 of the 5.147% Senior Non Preferred Fixed Rate Notes due 2025, and (iv)
USD 523,000,000 of the 1.849% Senior Non Preferred Fixed Rate Notes due 2026 (assuming that the Notes described in the notices of guaranteed
delivery are duly delivered at or prior to the Guaranteed Delivery Date and accepted for purchase).

The Offeror expects to pay the Consideration plus
Accrued Interest for all Notes validly tendered prior to the Expiration Time and accepted for purchase, including any Notes validly tendered
at or prior to the Guaranteed Delivery Date using the Guaranteed Delivery Procedures and accepted for purchase, on the Settlement Date,
which is expected to be on or around 17 January 2025.

Any requests for information in relation to the
Offers should be directed to the Dealer Manager or the Information and Tender Agent, whose contact details are listed below.

| DEALER MANAGER                                   |
| Santander US Capital Markets LLC