Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 31

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 31
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 Orderly Restructuring of Banks, the Bank of Spain, the
European Single Resolution Board, as the case may be, according to Law 11/2015, and any other entity with the authority to exercise the Bail-in Power or any other resolution power from time to time.

“Senior Higher Priority Liabilities” means the unsubordinated and unsecured obligations (créditos ordinarios) of Banco
Santander, other than the Senior Non Preferred Liabilities.

“Senior Non Preferred Liabilities” means any unsubordinated and
unsecured senior non preferred obligations (créditos ordinarios no preferentes) of Banco Santander under Additional Provision 14.2 of Law 11/2015 (including the Notes) and any other obligations which, by law and/or by their terms, and
to the extent permitted by Spanish law, rank pari passu with the Senior Non Preferred Liabilities.

“Spanish Insolvency
Law” means the restated text of the Spanish Insolvency Law (Ley Concursal) approved by the Royal Decree-Legislative 1/2020, of 5 May, as amended or replaced from time to time.

S-17

“SRM Regulation” means Regulation (EU) No. 806/2014 of the European
Parliament and of the Council of 15 July 2014, establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution
Fund, as amended or replaced from time to time.

“Supervisory Permission” means, in relation to any action, such supervisory
permission (or, as appropriate, waiver) from the Regulator as is required therefor under Applicable Banking Regulations.

“TLAC”
means the “total loss-absorbing capacity” requirement for global systemically important institutions under the CRR, set in accordance with Article 92a of the CRR and/or any other Applicable Banking Regulations.

The Notes

The 2030 Fixed Rate Notes

The 2030 Fixed Rate Notes will be issued in an initial aggregate principal amount of $1,000,000,000 and will mature on
January 17, 2030. From and including the date of issuance, which is expected to be January 17, 2025, interest will accrue on the 2030 Fixed Rate Notes at a rate of 5.565% per annum. Interest will be payable semi-annually in ar