Company: BCDRF
Filing Date: 2025-02-06
Form Type: 6-K
Source: 0000950103-25-001676
Chunk: 3

Company: Banco Santander, S.A.
Filing Date: 2025-02-06
Form: 6-K
Chunk 3
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 new series of euro-denominated [fixed rate] senior non preferred notes under the Programme (the
"New Notes").

A Holder who wishes to subscribe for
New Notes in addition to tendering its Notes for purchase pursuant to the Offers may be eligible to receive, at the sole and absolute
discretion of the Offeror, priority in the allocation of the New Notes, subject to the issue of the New Notes and such Holder making a
separate application for the purchase of such New Notes. Please refer to the Tender Offer Memorandum for further details.

Holders should note that the pricing
and allocation of the New Notes are expected to take place prior to the Expiration Time for the Offers and any Holder that wishes to subscribe
for New Notes in addition to tendering existing Notes for purchase pursuant to any of the Offers should therefore provide, as soon as
practicable, and prior to the allocation of the New Notes, to the Sole Dealer Manager any indications of a firm intention to tender Notes
for purchase pursuant to the Offers and the quantum of Notes that it intends to tender in order for this to be taken into account as part
of the New Notes allocation process.

The New Notes are being offered outside
the United States to non-U.S. persons, pursuant to the provisions of Regulation S ("Regulation S") of the United States
Securities Act of 1933, as amended (the “Securities Act”). The New Notes will not be registered under the Securities
Act or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States
or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons absent registration
or an applicable exemption from the registration requirements of the Securities Act. Any investment decision to purchase any New Notes
should be made solely on the

basis of the information contained in
(i) the Base Prospectus and (ii) the final terms in respect of the New Notes (when available).

Acceptance of Offers to Sell Notes

Until the Offeror announces whether
it has decided to accept valid Offers to Sell pursuant to any or all of the Offers, no assurance can be given that any Notes validly Offered
for Sale pursuant to the Offer will be accepted. The acceptance of any Notes validly Offered for Sale is at the sole and absolute discretion
of the Offeror and the Offeror reserves the absolute right not to accept any Notes validly Offered