Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 20

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 20
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 prospectus) have been redeemed or purchased by, or on behalf of, Banco Santander and cancelled, Banco Santander may, on any date that is                  
 an Interest Payment Date on the Notes of the relevant series, at its option and having given no less than five (5) nor more than 30 days’ notice to the holders of the Notes of the relevant series in accordance with the terms described          
 under “Description of Debt Securities—Notices” in the accompanying prospectus (which notice shall be irrevocable and shall specify the date for redemption) and a concurrent copy thereof to the Trustee, elect to redeem in whole                  
 but not in part the outstanding Notes of such series (the “Clean-up Redemption”).                                                                                                                                                                   |

| The Notes of the relevant series will be redeemed at their early clean-up redemption amount, which shall be their principal amount, together with any accrued and unpaid 
 interest thereon to (but excluding) the date fixed for redemption.                                                                                                       |

| The Clean-up Redemption is subject to Banco Santander obtaining prior Supervisory Permission, if and as required under Applicable Banking Regulations, and may only take  
 place in accordance with Applicable Banking Regulations (including, without limitation, in accordance with Articles 77 and 78a of the CRR) in force at the relevant time. |

| See “Description of the Notes—Redemption and Repurchase—Clean-up Redemption.” |

| No Additional Redemption Events | Other than as set forth under (i) “Description of the Notes—Redemption and Repurchase—Early Redemption for Taxation Reasons,” (ii) “Description of Debt Securities—Redemption and Repurchase—Early 
 Redemption of Senior Debt Securities for a TLAC/MREL Disqualification Event” in the accompanying prospectus, and (iii) “Description of the Notes—Redemption and Repurchase—Clean-up                
 Redemption,” Banco Santander may not redeem the Notes of any series.                                                                                                                               |

S-7

| Repurchase of Notes | Banco Santander and any of its subsidiaries or any third party designated by any of them, may only purchase Notes of any series in the open market or otherwise and at any price in accordance with Applicable Banking Regulations (including, 
 without limitation, in accordance with Articles 77 and 78a of the CRR) in force at the relevant time and will be subject to Supervisory Permission, as required.                                                                               |

| Waiver of Right of Set-off | Subject to applicable law, neither any holder or beneficial owner of the Notes