Banco Santander Files Form 6-K

TL;DR

Santander dropped a 6-K, likely with news. Watch this space.

AI Summary

On July 29, 2024, Banco Santander, S.A. filed a Form 6-K to report other relevant information. The filing itself does not contain specific financial figures or new strategic announcements but serves as a notification mechanism for material information released by the company.

Why It Matters

This filing indicates that Banco Santander has released or will be releasing other material information to the market, which investors should monitor for potential impacts on the company's stock.

Risk Assessment

Risk Level: low — The filing is a routine disclosure and does not contain specific financial data or significant operational updates that would immediately alter risk perception.

Key Players & Entities

• Banco Santander, S.A. (company) — Filer of the report
• 0000950103-24-011013 (other) — Accession number for the filing
• July 29, 2024 (date) — Date of the report

FAQ

Filing Documents

• dp215514_6k.htm (6-K) — 23KB
• image_001.jpg (GRAPHIC) — 3KB
• 0000950103-24-011013.txt ( ) — 29KB

From the Filing

FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of July, 2024 Commission File Number: 001-12518 Banco Santander, S.A. (Exact name of registrant as specified in its charter) Ciudad Grupo Santander 28660 Boadilla del Monte (Madrid) Spain (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F Banco Santander, S.A. TABLE OF CONTENTS Item 1 Report of Other Relevant Information dated July 29, 2024 Item 1 Banco Santander, S.A. (“ Banco Santander ” or the “ Bank ”) , in compliance with the Securities Market legislation, hereby announces the following: OTHER RELEVANT INFORMATION Banco Santander announces that it has completed the placement of preferred securities contingently convertible into newly issued ordinary shares of the Bank, excluding the pre-emptive subscription rights of its shareholders and for a total nominal amount of one billion five hundred million U.S. dollars ($ 1,500,000,000) (the “ Issue ” and the “ CoCos ”). The placement of the Issue has been carried out through an accelerated book-building targeted at professional investors and eligible counterparties only. The CoCos are issued at par and its remuneration, the payment of which is subject to certain conditions and to the discretion of the Bank, has been set at 8.000% on an annual basis for the first 10 years, which will be reviewed every five years thereafter, in accordance with the terms and conditions of the CoCos, by applying a margin of 391.1 basis points to the rate resulting from the applicable 5-year UST. Once issued, the CoCos will be eligible as additional tier 1 capital of Banco Santander in accordance with Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms (“ CRR ”). The CoCos are perpetual, but they may be called under certain circumstances and would be converted into newly issued ordinary shares of Banco Santander if the common equity tier 1 (CET1) ratio of the Bank or its consolidated group, calculated in accordance with CRR, were to fall below 5.125%. As of 30 June 2024, the fully loaded consolidated CET1 ratio of the Bank was 12.5%. The Bank will request the admission of the CoCos to trading on the New York Stock Exchange. The Bank also announces that, as of today, the report of the directors of the Bank concerning the basis and rules for the conversion of the CoCos and the exclusion of pre-emptive subscription rights, issued in accordance with articles 414.2, 417.2 and 510 of the Spanish Companies Act ( Ley de Sociedades de Capital ), will be available on the Bank’s website ( www.santander.com ). The aforementioned report will also be provided to the shareholders at the first general shareholders’ meeting to be held after the Issue. Boadilla del Monte (Madrid), 29 July 2024 IMPORTANT INFORMATION This other relevant information notice does not constitute an offer to sell, or the solicitation of an offer to buy these securities, nor shall there be any sale of such securities in any state of the United States or in any other jurisdiction in which such offer, solicitation or sale would not be permitted before registration or qualification under the securities laws of such state or jurisdiction. This document may not be distributed, directly or indirectly, in any jurisdiction in which said distribution is contrary to applicable laws. No action has been made or will be taken that would permit a public offering of any securities described herein in any jurisdiction in which action for that purpose is required. No offers, sales, resales or delivery of any securities described herein or distribution of any offering material relating to any such securities may be made in or from any jurisdiction except in circumstances which will result in compliance with any applicable laws and regulations and which will not impose any obligation on the Bank or the underwriters of the Issue or any of their respective affiliates. In connection with the Issue of the CoCos, the Bank has filed a registration statement (including a prospectus), and a prospectus supplement with the US Securities and Exchange Commission (the “ SEC ”). Before you invest, you should read the prospectus and prospectus supplement included in that registration You may obtain these documents for free by visiting the SEC’s web site at www.sec.gov . This other relevant information notice is an announcement and not a prospectus, and investors should not subscribe for or purchase any securities referred to herein except on the basis of the information included in the prospectus an

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View this 6-K filing on SEC EDGAR