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  • Doubt As to the Enforceability (new) — Spanish legal counsel has expressed doubt about the enforceability of U.S. securities law liabilities in Spain, which may hinder investor remedies.
NYSE: SAN Banco Santander, S.A. 424B5

Banco Santander offers $2B in senior non-preferred notes due 2030 and 2034

Filed August 19, 2026 · ~2 min read

Key Changes

  • high

    Banco Santander is offering $1B of 5.005% senior non-preferred notes due 2030 and $1B of 5.624% notes due 2034, totaling $2B.

    The Offering verify on EDGAR →
  • high

    The notes are senior non-preferred, ranking below senior higher priority liabilities and above subordinated debt, and are subject to bail-in power.

  • medium

    Net proceeds are expected to be approximately $1.99 billion after underwriting discounts and expenses, to be used for general corporate purposes.

    Use of Proceeds verify on EDGAR →

3 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 1, 2026 · How we verify