Banco Santander, S.A. (SAN) Form 6-K — Oct 14, 2026
Banco Santander announced the optional early redemption of all outstanding 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities (CoCos), totaling USD 298.4 million in nominal amount. The redemption was authorized by the European Central Bank and will occur on 12 November 2026, the first optional early redemption date. Holders will receive the liquidation preference plus accrued distributions to but excluding the redemption date; the redemption decision is irrevocable.
Key figures
- Debt Amount
- 298400000
- Interest Rate
- 4.75
- Isin
- US05971KAH23
- Cusip
- 05971KAH2
- Listing
- New York Stock Exchange
- Instrument Type
- Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities (CoCos)
- Redemption Date
- 12 November 2026
AI analysis
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