Banco Santander S.A. Early redemption of CoCos (Irrevocable decision) (8518Z)
15 Enero 2020 - 1:41AM
UK Regulatory
TIDMBNC
RNS Number : 8518Z
Banco Santander S.A.
15 January 2020
Banco Santander, S.A. ("Banco Santander" or the "Issuer"), in
compliance with the Securities Market legislation, hereby
communicates the following:
INSIDE INFORMATION
Further to the material fact announcement dated 9 January 2020
(registration number 285713), and having satisfied the conditions
to which the redemption of the outstanding Series I/2014
Non-Step-Up Non-Cumulative Contingent Convertible Perpetual
Preferred Tier 1 Securities, with ISIN code XS1043535092 and common
code 104353509, which are traded on the Global Exchange Market of
the Irish Stock Exchange (the "CoCos"), was subject to, Banco
Santander announces its irrevocable decision to carry out the
optional early redemption of all of the CoCos on the next
distribution payment date falling on 12 March 2020 (the "Early
Redemption Date").
With the publication of this material fact announcement and the
other foreseen notices in the Conditions of the Preferred
Securities of the relevant prospectus of the CoCos (Offering
Circular dated 6 March 2014) (the "Terms and Conditions"), the
obligation to give notice to the holders of the CoCos of the
irrevocable decision to redeem the issue is fulfilled.
The early redemption price, which will be equal to the
outstanding nominal value (liquidation preference in the
terminology of the Terms and Conditions) of each CoCo plus any
accrued and unpaid distribution associated to each CoCo up to (but
excluding) the Early Redemption 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.
Boadilla del Monte (Madrid), 15 January 2020
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END
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