Banco Santander S.A. Optional early redemption ISIN XS1107291541 (0757H)
July 30 2021 - 4:35AM
UK Regulatory
TIDMBNC
RNS Number : 0757H
Banco Santander S.A.
30 July 2021
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 a nominal
total value of EUR 1,500,000,000, with ISIN code XS1107291541 and
common code 110729154, which are traded on the Global Exchange
Market of the Irish Stock Exchange (the "CoCos").
The redemption of all of the outstanding CoCos, which has been
authorised by the European Central Bank, will be carried out on the
First Reset Date falling on 11 September 2021 (the "First Reset
Date"), pursuant to Conditions of the Preferred Securities of the
relevant prospectus of the CoCos (Offering Circular dated 3
September 2014) (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)
the First Reset Date, will be paid to the holders of the Preferred
Securities by the Principal Paying Agent, in accordance with the
Terms and Conditions, on 13 September 2021.
Boadilla del Monte (Madrid), 30th July, 2021
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END
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