Company: BCDRF
Filing Date: 2025-01-16
Form Type: 6-K
Source: 0000950103-25-000553
Chunk: 3

Company: Banco Santander, S.A.
Filing Date: 2025-01-16
Form: 6-K
Chunk 3
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 be registered under the Securities
Act or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States
or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons absent registration
or an applicable exemption from the registration requirements of the Securities Act. Any investment decision to purchase any New Notes
should be made solely on the basis of the information contained in (i) the Base Prospectus and (ii) the final terms in respect of the
New Notes (when available).

Acceptance of Offer to Sell Notes

Until the Offeror announces whether
it has decided to accept valid Offer to Sell pursuant to the Offer, no assurance can be given that any Notes validly Offered for Sale
pursuant to the Offer will be accepted. The acceptance of any Notes validly Offered for Sale is at the sole and absolute discretion of
the Offeror and the Offeror reserves the absolute right not to accept any Notes validly Offered for Sale pursuant to the Offer.

Tender Consideration

The consideration (the "Tender Consideration") payable on the Settlement Date to a Qualifying Holder whose Notes are validly Offered for Sale and accepted for
purchase by the Offeror pursuant to the Offer will be an amount in sterling equal to the sum of:

| (i) | the product of (x) the Purchase Price and (y) the nominal amount of the relevant 
 Notes; and                                                                       |

| (ii) | the Accrued Interest Amount in respect of such Notes, |

rounded, if necessary, to the nearest
GBP 0.01, with GBP 0.005 being rounded upwards.

Extension, Termination and Amendment

The Offeror reserves the right to extend,
withdraw, terminate or amend the terms and conditions of the Offer at any time following the announcement of the Offer and prior to the
announcement of the result of the Offer, as described in the Tender Offer Memorandum under the heading "Extension, Termination and Amendment".

Expected Timetable of Events

| Events/Dates                                                                                                                                 | Times and Dates                                                             |
| Launch Date                                                                                                                                  
 Offer announced and Tender Offer Memorandum                                                                                                  
 available to Qualifying Holders upon request from the Tender Agent                                                                           | 16 January 2025                                                             |
| Pricing of the New Notes                                                                                                                     | 16 January 2025                                                             |
| Expiration Time                                                                                                                              
 Deadline                                                                                                                                     
 for receipt by the Tender Agent of Tender