Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 285

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 285
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 99.1 of this prospectus are complied with in a timely manner. For these purposes, “ income” means any earnings paid by Banco Santander under the debt securities, generally interest paid on a date when interest on the debt securities is payable and the amount of the difference, if any, between the aggregate redemption price paid upon the redemption of the debt securities (or a portion thereof) and the aggregate principal amount of such debt securities. The information obligations to be complied with in order to apply the exemption are those laid down in Section 44.5 (“ Section 44.5”). In accordance with Section 44.5, the following information with respect to the debt securities must be submitted to Banco Santander from the paying agent before the close of business on the business day immediately preceding the date on which any payment of interest, principal or of any amounts in respect of the early redemption of the debt securities (each, a “ Payment Date”) is due. Such information comprises:

| (i) | identification of the debt securities with respect to which the relevant payment is made; |

| (ii) | income payment date (or refund if the debt securities are issued at discount or are segregated); |

| (iii) | total amount of income (or total amount to be refunded if the debt securities are issued at discount or are 
 segregated); and                                                                                            |

| (iv) | total amount of the income corresponding to each clearing system located outside Spain. |

In light of the above, Banco Santander and the issue and paying agent have arranged certain procedures to facilitate the collection of information concerning the debt securities by the close of business on the business day immediately preceding each relevant Payment Date. In particular, the issue and paying agent must certify the 141

information above about the debt securities by means of a certificate in the Spanish language, an English language form of which is attached as Exhibit 99.1 of this prospectus (the “ Payment Statement”). If, despite these procedures, the relevant information is not received by Banco Santander on each Payment Date, Banco Santander will withhold tax at the then-applicable rate (currently set at 19%) from any payment in respect of the relevant debt securities. Banco Santander will not pay any additional amounts with respect to any such withholding. If, before the tenth day of the month following the month in which income is paid, the issue and paying agent provides such information, Banco Santander will refund the amounts withheld. Prospective holders of debt securities should note that neither Banco Santander nor the