Business Context and Reporting Period
This Form 6-K filing by Banco Santander, S.A. covers the month of September 2026. The document serves as a formal Notice of Redemption regarding a specific debt instrument rather than a comprehensive financial report.
Key Financial Metrics
The filing details the redemption of Series 114 1.722% Senior Non Preferred Callable Fixed-to-Fixed Rate Notes due 2027 (CUSIP: 05964HAN5; ISIN: US05964HAN52).
- Aggregate Principal Amount: $1,500,000,000 (representing all Notes outstanding).
- Redemption Price: 100% of the principal amount plus accrued but unpaid interest up to, but excluding, the Optional Redemption Date.
- Optional Redemption Date: September 14, 2026.
- Cash Delivery: $1,500,000,000 to be delivered to the Trustee prior to or on the redemption date.
The filing text does not provide clear values for the company's overall revenue, profit, cash flow, margins, total debt, or liquidity positions beyond this specific transaction.
Material Changes
The material change disclosed is the complete redemption of the $1.5 billion Notes. Interest on these Notes will cease to accrue on and after September 14, 2026. This action reduces the company's outstanding senior non-preferred debt by the full principal amount of this series.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or general risk factors. It is strictly a procedural notice under Section 11.04 and Section 11.10 of the Senior Non Preferred Debt Securities Indenture. The only noted contingency involves U.S. federal income tax backup withholding for United States persons, which may apply unless specific IRS forms (W-9 or W-8) are provided to establish an exemption.
Investor Verification Checklist
- Confirm the surrender of Notes via The Depository Trust Company (DTC) procedures to receive payment.
- Verify the Regular Record Date to ensure eligibility for the final interest payment if the Optional Redemption Date coincides with an Interest Payment Date.
- Check tax status and ensure proper IRS Form W-9 or W-8 submission to avoid backup withholding on redemption proceeds.
- Validate the CUSIP (05964HAN5) and ISIN (US05964HAN52) against internal holdings records.