Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 24

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 24
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 Event of Default.                                                                                                                                                          |

| If an Event of Default with respect to the Notes of any series occurs as set forth in paragraph (i) above, then the Trustee or the holders of at least 25% in outstanding principal amount of the Notes of such series 
 may institute proceedings for the winding up or liquidation of Banco Santander but may take no further action in respect of such default.                                                                              |

| If an Event of Default with respect to the Notes of any series occurs as set forth in paragraph (ii) above, then the Trustee or the holders of at least 25% in outstanding principal amount of the Notes of such                                         
 series may declare the Notes of such series immediately due and payable whereupon the Notes of such series shall, when permitted by applicable Spanish Insolvency Law, become immediately due and payable at their early termination amount (which shall 
 be their principal amount, together with all interest (if any) accrued and unpaid thereon).                                                                                                                                                              |

S-10

| Without prejudice to paragraphs (i) and (ii) above, the Trustee or the holders of at least 25% in outstanding principal amount of the Notes of any series may, at their discretion and without further notice,                                          
 institute such proceedings against Banco Santander as they may think fit to enforce any obligation, condition or provision binding on Banco Santander under the Notes of such series, provided that, except as provided in paragraph (ii) winding up    
 above, Banco Santander shall not as a consequence of such proceedings be obliged to pay any sum or sums representing or measured by reference to principal or interest in respect of the Notes of such series sooner than the same would otherwise have 
 been payable by it or any damages.                                                                                                                                                                                                                      |

| Notwithstanding any contrary provisions, nothing shall impair the right of a holder, absent the holder’s consent, to sue for any payments due but unpaid with respect to the Notes of any series. |

| See “Description of the Notes—Events of Default and Defaults; Limitation of Remedies.” |

| Book-Entry Issuance, Settlement and Clearance | We will issue the Notes in fully registered form in denominations of $200,000 and integral multiples of $200,000 in excess thereof. All payments on or in respect of the Notes will be made in U.S. dollars. The Notes of each series will be          
 represented by one or more global securities deposited with a custodian for, and registered in the name of a nominee of, DTC. Beneficial