Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 182

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 182
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, as applicable, the amount in money and U.S. government obligations deposited in trust will be sufficient to pay amounts due on the debt securities of such series at the time of their stated maturity. They may not, however, be sufficient to pay amounts due on the debt securities of such series at the time of the acceleration resulting from such Senior Preferred Debt Security Event of Default, Senior Non Preferred Debt Security Event of Default or Subordinated Debt Security Event of Default, as applicable. In this case, Banco Santander will remain liable to make payment of such amounts due at the time of acceleration. The relevant prospectus supplement may further describe the provisions permitting legal defeasance or covenant defeasance, including any modifications to the provisions described above, with respect to the debt securities of a particular series. Upon the exercise of the Bail-inPower with respect to a series of debt securities which results in the cancellation, or the conversion into other securities, of all the principal amount of, and interest on, the debt securities of such series or the debt securities of such series otherwise ceasing to be outstanding, the relevant indenture shall be satisfied and discharged as to such series. Limitation on Suits No holder of debt securities will be entitled to proceed directly against Banco Santander, except as described below. 72

Subject to any further limitations provided in the relevant prospectus supplement and supplemental indenture establishing any series of debt securities, before a holder of the debt securities may bypass the Trustee and bring its own lawsuit or other formal legal action or take other steps to enforce its rights or protect its interests relating to the debt securities, the following must occur:

| • |     | The holder must have given the Trustee written notice that a continuing Senior Preferred Debt Security Event of                                              
 Default, Senior Non Preferred Debt Security Event of Default or Subordinated Debt Security Event of Default, as applicable has occurred and remains uncured. |

| • |     | The holders of not less than 25% in outstanding aggregate principal amount of the debt securities of the relevant                                                                                                                                
 series must make a written request that the Trustee institute proceedings because of the Senior Preferred Debt Security Event of Default, Senior Non Preferred Debt Security Event of Default or Subordinated Debt Security Event of Default, as 
 applicable, and the holder must offer indemnity satisfactory to the Trustee in its sole discretion against the cost and other liabilities incurred in connection with such request.                                                              |

| • |     | The Trustee must not have taken action for 60 days after receipt of the above notice and