Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 35

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 35
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 present and future subordinated obligations ( créditos subordinados) of Banco Santander in accordance with Article 281 of the Spanish Insolvency Law. Claims of holders of the Notes 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 Notes are subject to the Bail-inPower. As of September 30, 2024, Banco Santander had outstanding €75.403 billion of unsubordinated indebtedness, including €39.429 billion of Senior Higher Priority Liabilities and €35.974 billion of Senior Non Preferred Liabilities (including the senior non preferred debt securities issued by Banco Santander prior to the entrance into force of Royal Decree-Law11/2017). Additionally, as of September 30, 2024, Banco Santander had outstanding €25.350 billion of secured indebtedness and €27.327 billion of subordinated indebtedness. Banco Santander subsidiaries had €88.605 billion of indebtedness outstanding as of September 30, 2024. Additional Amounts All amounts payable (whether in respect of principal, redemption amount, interest or otherwise) in respect of the Notes of any series will be made free and clear of and without withholding or deduction for or on account of any present or future taxes, duties, assessments or governmental charges (collectively, “Taxes”) of whatever nature imposed or levied 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, unless the withholding or deduction of 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 such series of the amount of interest which would have been received by them had no such withholding or deduction been required. No Additional Amounts will be paid with respect to payments of principal or any premium. However, Banco Santander shall not be required to pay any