424B5 ·Filed Apr 8, 2026

BCDRF

Banco Santander, S.A.
NEUTRAL
Impact 4/10
Horizonimmediate Processed5mo ago SEC0001193125-26-146380
Notable filing: 424B5
Actionable Insight • Neutral

Monitor for final pricing details and offering size. The notes' subordinated structure and bail-in risk may affect secondary market pricing and investor appetite, particularly for retail investors.

DirectionNeutral
Confidencehigh
Horizonimmediate
Final — all horizons settled through T+60d ⚠ clustered
BCDRF ▲ +23.42% at T+60d
NEUTRAL call ✓ call won +23.42% · α vs SPY +12.96% · entry $11.85 → $14.63
Entry anchored
Apr 8, 2026
via day open
T+1d
+4.61%
call +4.61% · α +4.03%
$12.40
settled 6mo ago
T+5d
+8.06%
call +8.06% · α +4.55%
$12.81
settled 6mo ago
T+20d
+2.58%
call +2.58% · α -5.96%
$12.16
settled 5mo ago
T+60d
+23.42%
call +23.42% · α +12.96%
$14.63
settled 3mo ago

Price Chart

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Executive Summary

Banco Santander is issuing four series of senior non-preferred notes totaling an undisclosed amount, with maturities in 2029, 2031, and 2036. The notes are unsecured, rank below senior higher priority liabilities, and are subject to bail-in powers under Spanish resolution law. Proceeds will be used for general corporate purposes.

Key Facts

  • Banco Santander is offering $ aggregate principal amount of Senior Non Preferred Floating Rate Notes due 2029, $ aggregate principal amount of % Senior Non Preferred Fixed Rate Notes due 2029, $ aggregate principal amount of % Senior Non Preferred Fixed Rate Notes due 2031, and $ aggregate principal amount of % Senior Non Preferred Fixed Rate Notes due 2036.
  • The notes are unsecured and rank below senior higher priority liabilities.
  • The notes are subject to bail-in powers under Spanish resolution law.
  • Proceeds will be used for general corporate purposes.

Financial Impact

Undisclosed amount of debt issuance

debtdilution

Risk Factors

  • Bail-in risk under Spanish resolution law
  • Subordinated ranking in insolvency
  • Floating rate exposure to SOFR

Market Snapshot

Exchange
OTC
Sector
Commercial Banks, NEC

Investment Themes

Traditional Finance

Documents Analyzed

This report is based on 4 SEC documents filed with EDGAR.

DocumentAccession Number
424B5 Filing (Primary)0001193125-26-146380
Document: 0001193125-26-146380-index-headers.html0001193125-26-146380
Document: 0001193125-26-146380-index.html0001193125-26-146380
Document: 0001193125-26-146380.txt0001193125-26-146380
11 reports for BCDRF
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for BCDRF — sortable, filterable
TypeNow
Jun 10, 2026
16w ago
6-K
NEUTRAL ★ 4/10
$12.46 $14.68▲ +17.82%▲ +10.96%$12.59 (+1.04%)
Jun 4, 2026
17w ago
6-K
NEUTRAL ★ 4/10
$12.08 $14.32▲ +18.54%▲ +16.66%$12.59 (+4.22%)
Jun 3, 2026
17w ago
6-K
NEUTRAL ★ 4/10
$11.99 $14.43▲ +20.35%▲ +17.85%$12.59 (+5.00%)
May 28, 2026
18w ago
424B5
NEUTRAL ★ 4/10
$11.95 $13.96▲ +16.82%▲ +15.09%$12.59 (+5.36%)
May 27, 2026
18w ago
424B5 / 6-K
NEUTRAL ★ 4/10
$12.64 $14.14▲ +11.87%▲ +9.99%$12.59 (−0.40%)
May 27, 2026
18w ago
6-K
NEUTRAL ★ 5/10
$12.64 $14.14▲ +11.87%▲ +9.99%$12.59 (−0.40%)
Apr 23, 2026
23w ago
425
NEUTRAL ★ 5/10
$11.90 $13.05▲ +9.63%▲ +4.61%$12.59 (+5.77%)
Apr 23, 2026
23w ago
EFFECT / 6-K
MIXED ★ 7/10
$11.90 $13.05▲ +9.63%▲ +4.61%$12.59 (+5.77%)
Apr 8, 2026
25w ago
424B5
NEUTRAL ★ 4/10
$11.85 $14.63▲ +23.42%▲ +12.96%$12.59 (+6.21%)
Apr 8, 2026
25w ago
6-K
NEUTRAL ★ 4/10
$11.85 $14.63▲ +23.42%▲ +12.96%$12.59 (+6.21%)
Showing 10 of 11

US Market Status

Market Closed — Opens Mon (38h 18m)

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