Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 161

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 161
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 such
series.

59

A holder of any series of senior preferred debt securities may not exercise such option in respect of any series of senior preferred debt securities which is the subject of an exercise by Banco Santander of its option to redeem such series of senior preferred debt securities under “ —Early Redemption for Taxation Reasons” or “ —Optional Early Redemption (Call)” above. Notice of Redemption For purposes of this section “ —Redemption and Repurchase”, the appropriate notice to be given by Banco Santander to the Trustee and the holders of the debt securities of such series, shall be signed by two duly authorized officers of Banco Santander and shall specify:

| • |     | the series of debt securities subject to redemption; |

| • |     | whether such series of debt securities is to be redeemed in whole or in part only and, if in part only, the                                                                                                        
 aggregate principal amount of the debt securities series which is to be redeemed, except in the case of “—Early Redemption for Taxation Reasons”, “—Early Redemption of Subordinated Debt Securities for a Capital 
 Disqualification Event”, “—Early Redemption of Senior Debt Securities for a TLAC/MREL Disqualification Event” and “—Early redemption at the option of Banco Santander                                              
 (Clean-up Redemption)”, which must be redeemed in full;                                                                                                                                                            |

| • |     | the due date for such redemption which shall be a Business Day, which shall be not less than five (5) days                                                                                                                                               
 nor more than 30 days (or such lesser period as may be specified in the relevant prospectus supplement) after the date on which such notice is validly given and which is, in the case of debt securities which bear interest at a floating rate, a date 
 upon which interest is payable; and                                                                                                                                                                                                                      |

| • |     | the Early Redemption Amount (Tax), Early Redemption Amount (TLAC/MREL Disqualification Event), Early Redemption                                                                                                   
 Amount (Capital Disqualification Event), Early Redemption Amount (Call), Early Redemption Amount (Put) or Early Redemption Amount (Clean-up Call), as applicable, at which the debt securities of such series are 
 to be redeemed.                                                                                                                                                                                                   |

Any such notice shall be irrevocable, and the delivery thereof shall oblige Banco Santander to make the redemption therein specified (unless the Bail-inPower is exercised by the Relevant Resolution Authority before the occurrence of such redemption). Repurchase of Debt Securities Banco Santander and any of its subsidiaries or any third party designated by any of