Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 150

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 150
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al agreement or any regulations or official interpretations relating thereto), subject to the provisions under “ —Additional Amounts” below. Status of the Debt Securities Senior preferred debt securities Unless the relevant prospectus supplement provides otherwise, the payment obligations of Banco Santander in respect of principal under the senior preferred debt securities of any series constitute direct, unconditional, unsubordinated and unsecured obligations ( créditos ordinarios) of Banco Santander and, in accordance with Additional Provision 14.2 of Law 11/2015, but subject to any other ranking that may apply as a result of any mandatory provision of law (or otherwise), upon the insolvency of Banco Santander, such payment obligations rank (i) pari passuamong themselves and with any other Senior Higher Priority Liabilities (as defined below) and (ii) senior to (x) any Senior Non Preferred Liabilities (as defined below) and (y) any present and future subordinated obligations ( créditos subordinados) of Banco Santander in accordance with Article 281 of the Spanish Insolvency Law. Claims of holders of senior preferred debt securities in respect of interest accrued but unpaid as of the commencement of any insolvency procedure in respect of Banco Santander shall constitute subordinated claims (créditos subordinados) against Banco Santander ranking in accordance with the provisions of Article 281.1.3º of the Spanish Insolvency Law and no further interest shall accrue from the date of the declaration of insolvency of Banco Santander. The obligations of Banco Santander under the senior preferred debt securities are subject to the Bail-inPower. Senior Non Preferred Debt Securities Unless the relevant prospectus supplement provides otherwise, the payment obligations of Banco Santander in respect of principal under the senior non preferred debt securities of any series constitute direct, unconditional, 53

unsubordinated and unsecured senior non preferred obligations ( créditos ordinarios no preferentes) of Banco Santander and, in accordance with Additional Provision 14.2 of Law 11/2015, but subject to any other ranking that may apply as a result of any mandatory provision of law (or otherwise), upon the insolvency of Banco Santander, such payment obligations rank (i) pari passuamong themselves and with any Senior Non Preferred Liabilities, (ii) junior to the Senior Higher Priority Liabilities (and, accordingly, upon the insolvency of Banco Santander, the payment obligations of Banco Santander in respect of principal under the senior non preferred debt securities will be met after payment in full of