Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 265

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 265
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 who wish to transfer their interests in the securities or to receive or make a payment or delivery of the securities on a particular day, may find that the transactions will not be performed until the next business day in Luxembourg or Brussels, depending on whether Clearstream Luxembourg or Euroclear is used. Issuance of Definitive Securities So long as the depositary holds the global securities of a particular series of securities such global securities will not be exchangeable for definitive securities of that series unless:

| • |     | the depositary notifies the Trustee that it is unwilling or unable to continue to act as depositary for the                         
 securities of such series, or, in the case of DTC, the depositary ceases to be a clearing agency registered under the Exchange Act; |

| • |     | Banco Santander is liquidated and we fail to make a payment on the securities when due, other than in connection 
 with a cancelled Distribution, Trigger Conversion or any exercise of Bail-in Power; or                           |

| • |     | at any time Banco Santander determines in its option and in its sole discretion that the global securities of a  
 particular series of securities should be exchanged for definitive securities of that series in registered form. |

Each person having an ownership or other interest in a security must rely exclusively on the rules or procedures of the depositary as the case may be, and any agreement with any direct or indirect participant of the depositary, including Euroclear or Clearstream Luxembourg and their participants, as applicable, or any other securities intermediary through which that person holds its interest, to receive or direct the delivery of possession of any definitive security. The indentures permit Banco Santander to determine at any time and in their sole discretion that securities shall no longer be represented by global securities. DTC has advised Banco Santander that, under its current practices, it would notify its participants of Banco Santander’s request, but will only withdraw beneficial interests from the global securities at the request of each DTC participant. Banco Santander would issue definitive certificates in exchange for any such beneficial interests withdrawn. Unless otherwise specified in the relevant prospectus supplement, definitive securities will be issued in registered form only. To the extent permitted by law, Banco Santander, the Trustee and any paying agent shall be entitled to treat the person in whose name any definitive security is registered as its absolute owner. Payments in respect of each series of definitive securities will be made to the person in whose name such definitive securities are registered as it appears in the register for that series securities.