Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 159

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 159
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 in accordance with, the relevant prospectus supplement), together with any accrued and unpaid
interest thereon to (but excluding) the date fixed for redemption.

The Clean-up Redemption is
subject to Banco Santander obtaining prior Supervisory Permission if and as required under Applicable Banking Regulations and may only take place in accordance with Applicable Banking Regulations in force at the relevant time. Clean-up Redemption of subordinated debt securities may be made only after five years from their date of issuance or any other minimum period permitted by the Applicable Banking Regulations.

Optional Early Redemption (Call)

Unless otherwise specified in the relevant prospectus supplement, Banco Santander may, upon the expiration of the appropriate notice (described
below) and subject to such conditions as may be specified in the

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relevant prospectus supplement, redeem in whole (but not, unless and to the extent that the relevant prospectus supplement specifies otherwise, in part) the debt securities of such series at
their call early redemption amount (the “Early Redemption Amount (Call)”) (which shall be their principal amount or such other Early Redemption Amount (Call) as may be specified in or determined in the relevant prospectus supplement),
together with any accrued interest (if any) thereon to (but excluding) the date or dates fixed for redemption.

In the case of senior non
preferred debt securities, subordinated debt securities or senior preferred debt securities constituting TLAC/MREL Eligible Instruments, redemption at the option of Banco Santander will be subject to the prior consent of the Regulator if and as
required under Applicable Banking Regulations and may only take place in accordance with Applicable Banking Regulations in force at the relevant time. In particular, Optional Early Redemption (Call) of subordinated debt securities may be made only
after five years from their date of issuance or any other minimum period permitted by the Applicable Banking Regulations.

Partial Redemption

If the debt securities of any series are to be redeemed in part only on any date in accordance with
“—Optional Early Redemption (Call)” above, the debt securities to be redeemed will be selected not more than 30 days nor less than five (5) days prior to such redemption date by the Trustee pro rata to their
principal amounts, or by lot or by such method as the Trustee deems fair and appropriate, provided that the amount redeemed in respect of the debt securities of such series shall be equal to the minimum authorized denomination or an integral
multiple thereof, subject always to compliance with all applicable laws and the