Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 17

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 17
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 of Spain or any 
 political subdivision thereof or any authority or agency therein or thereof having power to tax, unless the withholding or deduction of                                                                                                        |

S-4

| such Taxes is required by law. In the event any withholding or deduction is imposed or levied in respect of any payment of interest by or on behalf of the Kingdom of Spain or any political                                                    
 subdivision thereof or any authority or agency therein or thereof having power to tax, Banco Santander shall pay such additional amounts (“Additional Amounts”) as will result in receipt by the holders of the Notes of the amount of interest 
 which would have been received by them had no such withholding or deduction been required, subject to certain exceptions, as described under “Description of the Notes—Additional Amounts.” No Additional Amounts will be paid with             
 respect to payments of principal or any redemption amount.                                                                                                                                                                                      |

| Additional Issuances | Banco Santander may, without the consent of the holders of the Notes, issue additional notes of the same series as the Notes of the series that is being increased, having the same ranking and same interest rate, maturity date, redemption terms       
 and other terms as the Notes of the series that is being increased, described in this prospectus supplement except for the price to the public, original interest accrual date, issue date and first interest payment date; provided, however, that such  
 additional notes will not have the same CUSIP, ISIN or other identifying number as the outstanding Notes of such series unless the additional notes are fungible with the outstanding Notes of such series for U.S. federal income tax purposes. Any such 
 additional notes, together with the Notes of such series offered by this prospectus supplement, will constitute a single series of securities under the Base Indenture (as defined herein). There is no limitation on the amount of notes that Banco      
 Santander may issue under the Base Indenture.                                                                                                                                                                                                             |

| Early Redemption for Taxation Reasons | If as a result of any change in, or amendment to, the laws or regulations of Spain or of any political subdivision thereof or any authority or agency                                                                                              
 therein or thereof having power to tax or in the interpretation or administration of any such laws or regulations which becomes effective on or after the date of issue of the Notes of the relevant series, Banco Santander shall determine that  
 (a) Banco Santander would be required to pay Additional Amounts as described in “Description of the Notes—Additional Amounts” or (b) Banco Santander would not be entitled