Company: BCDRF
Filing Date: 2025-06-24
Form Type: CB
Source: 0000950103-25-007733
Chunk: 0

Company: Banco Santander, S.A.
Filing Date: 2025-06-24
Form: CB
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form CB

TENDER OFFER/RIGHTS OFFERING NOTIFICATION
FORM</div>

Please place an X in the box(es) to designate the appropriate rule
provision(s) relied upon to file this Form:

| Securities Act Rule 801 (Rights Offering)             | ☐ |
| Securities Act Rule 802 (Exchange Offer)              | ☐ |
| Exchange Act Rule 13e-4(h)(8) (Issuer Tender Offer)   | ☒ |
| Exchange Act Rule 14d-1(c) (Third Party Tender Offer) | ☐ |
| Exchange Act Rule 14e-2(d) (Subject Company Response) |   |

Filed or submitted in paper if permitted by Regulation S-T Rule 101(b)(8)[_]

<div align='center'>Banco Santander, S.A.

(Name of Subject Company)

N/A

(Translation of Subject Company’s Name into
English (if applicable))

Kingdom of Spain

(Jurisdiction of Subject Company’s Incorporation
or Organization)

Banco Santander, S.A.

(Name of Person(s) Furnishing Form)

EUR 1,500,000,000 4.375 per cent. Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities

(Title of Class of Subject Securities)

N/A

(CUSIP Number of Class of Securities (if applicable))

José Antonio Soler Ramos

Banco Santander, S.A.

Ciudad Grupo Santander - 28660 Boadilla del Monte Madrid, Spain

Tel: +34 912 89 32 81

(Name, Address (including zip code) and Telephone
Number (including area code) of Person(s)
Authorized to Receive Notices and Communications on Behalf of Subject Company)

Copies to:

Pedro J. Bermeo
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, NY 10017
+1 212 450 4000

June 24, 2025

(Date Tender Offer/Rights Offering Commenced)

PART I - INFORMATION SENT TO SECURITY HOLDERS</div>

Item 1. Home Jurisdiction Documents

(a) The following documents are attached hereto
as exhibits to this form:

| Exhibit No. 
 1.1         | Description                                                                                            
 Tender offer memorandum dated June 24