Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 18

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 18
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 holders of the Notes of the relevant series in accordance with the terms              
 described under “Description of Debt Securities—Notices” in the accompanying prospectus (which notice shall be irrevocable) and a concurrent copy thereof to the Trustee, elect to redeem in whole, but not in part, the                                 
 outstanding Notes of the relevant series, in accordance with the requirements of Applicable Banking Regulations (as defined herein) in force at the relevant time, at their early tax redemption amount, which shall be their principal amount, together 
 with any accrued and unpaid interest thereon to (but excluding) the date fixed for redemption; provided, however, that (i) in the case of (a) above, no such notice of redemption may be given earlier than 90 days (or, in the case of the              
 2030 Floating Rate Notes, a number of days which is equal to the aggregate of the number of days falling within the then current Interest Period plus 60 days) prior to the earliest date on which Banco Santander would be obliged to pay such          
 Additional Amounts were a payment in respect of the Notes of the relevant series then due and (ii) redemption for taxation reasons may only take place in accordance with Applicable Banking Regulations (including, without limitation, in              
 accordance with Articles 77 and 78a of the CRR) in force at the relevant time and subject to Banco Santander obtaining Supervisory Permission therefor, if and as required.                                                                              |

| “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. |

| See “Description of the Notes—Redemption and Repurchase—Early Redemption for Taxation Reasons.” |

| Early Redemption for a TLAC/MREL Disqualification Event | If, in relation to the Notes of any series, a TLAC/MREL Disqualification Event (as defined herein) has occurred and is continuing, then Banco Santander may, at its option and having given not less than five (5) nor more than 30 days’ 
 notice (ending, in the case of the 2030 Floating Rate Notes, on a Floating Interest Payment Date) to the holders of the relevant series of the Notes in accordance with the terms described under “Description of                         
 Debt Securities—Notices” in the accompanying prospectus (which notice shall be irrevocable and shall specify the date for redemption) and a concurrent