Banco Santander S.A. Optional early redemption of preferred securities (3178W)
April 16 2019 - 2:38AM
UK Regulatory
TIDMBNC
RNS Number : 3178W
Banco Santander S.A.
16 April 2019
Banco Santander, S.A., in compliance with the Securities Market
legislation, hereby communicates the following:
INSIDE INFORMATION
Banco Santander, S.A. (the "Issuer" or "Banco Santander")
announces its decision to carry out the optional early redemption
of all outstanding Series II/2014 Non-Step-Up Non-Cumulative
Contingent Convertible Perpetual Preferred Tier 1 Securities, with
a nominal total value of USD 1,500,000,000, with ISIN code
XS1066553329 and common code 106655332, 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 Determination Date falling on 19 May 2019 (the "First
Determination Date"), pursuant to Conditions of the Preferred
Securities of the relevant prospectus of the CoCos (Offering
Circular dated 9 May 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 material fact announcement 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 Determination Date, will be paid to the holders of the
Preferred Securities by the Principal Paying Agent, in accordance
with the Terms and Conditions, on 20 May 2019.
Boadilla del Monte (Madrid), April 16(th) , 2019
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END
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