Banco Santander S.A. Intention of Early Redemption (2742Z)
January 09 2020 - 3:12AM
UK Regulatory
TIDMBNC
RNS Number : 2742Z
Banco Santander S.A.
09 January 2020
Banco Santander, S.A. ("Banco Santander" or the "Issuer"), in
compliance with the Securities Market legislation, hereby
communicates the following:
INSIDE INFORMATION
In connection with the issue of Series I/2014 Non-Step-Up
Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1
Securities, with a nominal total value of one thousand five hundred
million euros (EUR 1,500,000,000), with ISIN code XS1043535092 and
common code 104353509, which remain outstanding and are traded on
the Global Exchange Market of the Irish Stock Exchange (the
"CoCos"), Banco Santander announces its intention to carry out the
voluntary early redemption of all of the outstanding CoCos on the
next payment date of the corresponding distribution falling on 12
March 2020.
The early redemption of all of the outstanding CoCos shall be
agreed, if applicable, once the Issuer has carried out one or more
new issues of additional tier 1 capital instruments for at least
the same total nominal amount as the CoCos, and subject in any
event to the Conditions of the Preferred Securities of the relevant
prospectus of the CoCos (Offering Circular dated 6 March 2014) (the
"Terms and Conditions") and the other conditions set out in the
prior authorisation of the European Central Bank, which has already
been obtained.
The Issuer's irrevocable decision to exercise the optional early
redemption right would be communicated, if any, to the holders of
the CoCos by means of a material fact announcement and other
foreseen notices, in the form, within the required timeframe (i.e.,
from and including 12 January 2020 to and including 11 February
2020) and for the purposes set out in conditions 6 and 11 of the
Terms and Conditions.
Boadilla del Monte (Madrid), 9 January 2020
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END
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