Company: BCDRF
Filing Date: 2025-02-06
Form Type: 6-K
Source: 0000950103-25-001676
Chunk: 1

Company: Banco Santander, S.A.
Filing Date: 2025-02-06
Form: 6-K
Chunk 1
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 April 2026   | XS1384064587 | €1,500,000,000 | 4 April 2026    | IRSB, Euro zone, pricing source: BGN | EUR 2026 Interpolated Mid-Swap Rate | +25 bps.        | Any and all of the Notes     |
| €1,000,000,000 3.125 per cent. Subordinated Instruments due January 2027 | XS1548444816 | €1,000,000,000 | 19 January 2027 | IRSB, Euro zone, pricing source: BGN | EUR 2027 Interpolated Mid-Swap Rate | +35 bps.        |                              |

THE OFFERS WILL COMMENCE ON 6 FEBRUARY 2025 AND WILL EXPIRE AT 5.00 P.M. (CET TIME) ON 12 FEBRUARY 2025 (THE "EXPIRATION TIME") UNLESS EXTENDED, WITHDRAWN, AMENDED OR TERMINATED AT THE SOLE AND ABSOLUTE DISCRETION OF THE OFFEROR.

THE DEADLINES SET BY ANY INTERMEDIARY OR CLEARING SYSTEM MAY BE EARLIER THAN THE ABOVE DEADLINE.

The Offers are made on the terms and
subject to the conditions contained in the Tender Offer Memorandum and should be read in conjunction with the Tender Offer Memorandum.
Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Tender Offer Memorandum.

The submission of a valid Tender Instruction
through the Clearing Systems will be irrevocable except in the limited circumstances in which the revocation of a Tender Instruction is
specifically permitted in accordance with the terms of the Offers.

The Notes may only be Offered for Sale
in multiples of €100,000 being the minimum denomination of the Notes.

Rationale for the Offers

The rationale for the Offers is to optimise
the liquidity, debt maturity and the eligibility profile of the own funds and eligible liabilities of the Offeror. Notes purchased by
the Offeror pursuant to the Offers will be cancelled and will not be re-issued or re-sold. Notes which have not been validly submitted
and accepted for purchase pursuant to the Offers will remain outstanding.

Amount subject to the Offers

The Offeror proposes to accept any and
all Notes tendered pursuant to the Offers on the terms and subject to the conditions contained in the Tender Offer Memorandum. The acceptance