Banco Santander S.A. Notice of Early Redemption (3517W)
16 April 2019 - 7:44PM
UK Regulatory
TIDMBNC
RNS Number : 3517W
Banco Santander S.A.
16 April 2019
NOTICE OF EARLY REDEMPTION
BANCO SANTANDER, S.A.
USD 1,500,000,000 Non-Step-Up Non-Cumulative Contingent
Convertible Perpetual Preferred Tier 1 Securities issued on 19 May
2014 (the "Preferred Securities")
ISIN: XS1066553329
MADRID, Spain, April 16, 2019 - 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 value of USD 200,000
each, 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 notice, and a material fact announcement published
today, 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.
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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