Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 42

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 42
---
, the liquidator or administrator of Banco Santander, as the case may be) and, until such time as payment is made, shall hold an amount equal to such amount in trust (where possible) or otherwise for Banco Santander (or the liquidator or administrator of Banco Santander, as the case may be) and, accordingly, any such discharge shall be deemed not to have taken place. Listing We intend to apply for the listing of the Notes on the New York Stock Exchange in accordance with its rules. Governing Law The Base Indenture, the Second Supplemental Indenture and the Notes will be governed by and construed in accordance with the laws of the State of New York, except that the authorization and execution by Banco Santander of the Base Indenture, the Second Supplemental Indenture and the Notes, and certain provisions of the Notes, the Base Indenture and the Second Supplemental Indenture related to the ranking of the Notes, shall be governed by and construed in accordance with Spanish law. Agreement and Acknowledgement with Respect to the Exercise of the Bail-inPower Notwithstanding any other term of the Notes or any other agreements, arrangements, or understandings between Banco Santander and any holder of the Notes, by its acquisition of the Notes, each holder (which, for the purposes of this clause, includes each holder of a beneficial interest in the Notes) acknowledges, accepts, consents to and agrees:

| (i) | to be bound by the effect of the exercise of the Bail-in Power by the                                             
 Relevant Resolution Authority, which may include and result in any of the following, or some combination thereof: |

| • |     | the reduction of all, or a portion, of the Amounts Due on a permanent basis; |

| • |     | the conversion of all, or a portion, of the Amounts Due into Common Equity Tier 1 Instruments, other securities                                                                                                                                          
 or other obligations of Banco Santander or another person (and the issue to the holder of such Common Equity Tier 1 Instruments, securities or obligations), including by means of an amendment, modification or variation of the terms of the Notes, in 
 which case the holder agrees to accept in lieu of its rights under the Notes, any such Common Equity Tier 1 Instruments, other securities or other obligations of Banco Santander or another person;                                                     |

S-24

| • |     | the cancellation of the Notes or Amounts Due; |

| • |     | the amendment or alteration of