Company: BCDRF
Filing Date: 2025-06-24
Form Type: 6-K
Source: 0000950103-25-007750
Chunk: 8

Company: Banco Santander, S.A.
Filing Date: 2025-06-24
Form: 6-K
Chunk 8
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 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 Preferred Securities should be made solely on the basis of the information contained in the preliminary offering circular relating
to the New Preferred Securities that has been made available to investors together with pricing details.

This announcement is not being distributed to,
and must not be passed on to, the general public in the UK and is not intended to be an invitation or inducement to engage in investment
activity for the purpose of Section 21 of the FSMA. This announcement is directed only at: (i) persons who are outside the UK; (ii) persons
who are investment professionals within the meaning of Article 19(5) of the Financial Promotion Order; (iii) high net worth entities falling
within Article 49(2)(a) to (d) of the Financial Promotion Order or (iv) any other persons to whom this announcement for the purposes of
Section 21 of the FSMA can otherwise lawfully be distributed (all such persons together being referred to as "relevant persons"),
and must not be acted on or relied upon by persons other than relevant persons. Any investment or investment activity to which this announcement
relates is available only to and will be engaged in only with relevant persons.

The New Preferred Securities may not be offered
or sold or distributed, nor may any subsequent resale of New Preferred Securities be carried out in Spain, except in circumstances which
do not require the registration of a prospectus in Spain or without complying with all legal and regulatory requirements under Spanish
securities laws. No publicity or marketing of any kind shall be made in Spain in relation to the New Preferred Securities.

Neither the New Preferred Securities nor the Offering
Circular in connection thereof have been registered with the Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores) (the "CNMV") and therefore the Offering Circular is not intended for any offer of the New Preferred Securities
in Spain that would require the registration of a prospectus with the CNMV.

This announcement is not an offer of securities
or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation
would be unlawful. No action has been taken that would permit an offering of the New Preferred Securities or possession