Banco Santander S.A. Optional early redemption ISIN XS1951093894 (6207W)
December 13 2023 - 2:02AM
UK Regulatory
TIDMBNC
RNS Number : 6207W
Banco Santander S.A.
13 December 2023
Banco Santander, S.A., in compliance with the Securities Market
legislation, hereby communicates the following:
OTHER RELEVANT INFORMATION
Banco Santander, S.A. (the "Issuer" or "Banco Santander")
announces its decision to carry out the optional early redemption
of all outstanding Non-Step-Up Non-Cumulative Contingent
Convertible Perpetual Preferred Tier 1 Securities, with ISIN code
XS1951093894 and common code 195109389, for a nominal total value
of USD 1,200,000,000, which are traded on the Global Exchange
Market of the Irish Stock Exchange (the "CoCos").
The early redemption of all of the outstanding CoCos, which has
been authorised by the European Central Bank, will be carried out
on the distribution payment date falling on 8 February 2024,
pursuant to Conditions of the Preferred Securities of the relevant
prospectus of the CoCos (Offering Circular dated 7 February 2019)
(the "Terms and Conditions"). The decision of the Issuer to
exercise the optional early redemption right is irrevocable, and
holders of the CoCos are being informed by means of this
announcement of other relevant information and other foreseen
notices, in the form, within the required timeframe, and for the
purposes set out in Conditions 6 and 11 of the Terms and
Conditions.
The early redemption price, which will be equal to the
outstanding nominal value (liquidation preference in the
terminology of the prospectus) of each CoCo plus any accrued and
unpaid distribution associated to each CoCo up to (but excluding) 8
February 2024, will be paid on such date to the holders of the
Preferred Securities by the Principal Paying Agent, in accordance
with the Terms and Conditions.
Boadilla del Monte (Madrid), December 13th, 2023
IMPORTANT INFORMATION
Not a securities offer
This document and the information it contains does not
constitute an offer to sell nor the solicitation of an offer to buy
any securities.
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be construed as suggesting that future performance, share price or
results (including earnings per share) will necessarily be the same
or higher than in a previous period. Nothing in this document
should be taken as a profit and loss forecast.
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END
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