Banco Santander S.A. Notice of Early Redemption (9165Z)
January 15 2020 - 7:36AM
UK Regulatory
TIDMBNC
RNS Number : 9165Z
Banco Santander S.A.
15 January 2020
NOTICE OF EARLY REDEMPTION
BANCO SANTANDER, S.A.
EUR 1,500,000,000 Non-Step-Up Non-Cumulative Contingent
Convertible Perpetual Preferred Tier 1 Securities issued on 12
March 2014
ISIN: XS1043535092
MADRID, Spain, January 15, 2020 - Banco Santander, S.A. (the
"Issuer") announces its decision to carry out the optional early
redemption of all outstanding Series I/2014 Non-Step-Up
Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1
Securities, with a nominal value of EUR 100,000 each, with ISIN
code XS1043535092 and common code 104353509, 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
next payment date of the corresponding distribution falling on 12
March 2020 (the "Early Amortization Date"), pursuant to Conditions
of the Preferred Securities of the relevant prospectus of the CoCos
("Offering Circular dated 6 March 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 of the decision of the Issuer to exercise the
optional early redemption right by means of this notice, and a
material fact announcement published on 15 January 2020, 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 Early Amortization Date, will be paid to the holders of the
CoCos by the Principal Paying Agent, in accordance with the Terms
and Conditions, on 12 March 2020.
This announcement has been issued through the Companies
Announcement Service of Euronext Dublin.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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