This is a routine debt redemption with no read-through for common equity holders. Monitor for any subsequent refinancing announcements that could signal changes in Santander's funding strategy.
Price Chart
Executive Summary
Banco Santander has called for full redemption of its $1.5 billion Series 114 1.722% Senior Non Preferred Callable Fixed-to-Fixed Rate Notes due 2027, with the redemption date set for September 14, 2026. This follows a recent 424B5 debt offering filing 14 days prior, suggesting active liability management. The redemption is a routine capital management action for a large global bank and has no material impact on common equity holders.
Key Facts
- Banco Santander is redeeming all $1.5 billion of its Series 114 1.722% Senior Non Preferred Callable Fixed-to-Fixed Rate Notes due 2027.
- The redemption date is September 14, 2026.
- The redemption price is 100% of principal plus accrued interest.
- This filing follows a 424B5 prospectus supplement for new senior non preferred notes filed on August 18, 2026.
Financial Impact
Redeeming $1.5 billion in senior non preferred notes at par, a routine liability management transaction for a $213.9B market cap bank.
Risk Factors
- None material for common equity holders from this specific transaction.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (SAN) — Batch item 1 | 0000950103-26-013322 |
| Document: 0000950103-26-013322-index-headers.html | 0000950103-26-013322 |
| Document: 0000950103-26-013322-index.html | 0000950103-26-013322 |
| Document: 0000950103-26-013322.txt | 0000950103-26-013322 |
| 6-K Filing (SAN) — Batch item 5 | 0000950103-26-013322 |
| Document: 0000950103-26-013322-index-headers.html | 0000950103-26-013322 |
| Document: 0000950103-26-013322-index.html | 0000950103-26-013322 |
| Document: 0000950103-26-013322.txt | 0000950103-26-013322 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 25-NSE | $14.74 $14.62 | ▼ −0.81% | ▼ −0.92% | $13.36 (−9.36%) |
Sep 10, 2026 22d ago | 6-K | $14.63 $14.82 | ▲ +1.30% | ▲ +1.80% | $13.36 (−8.68%) |
Sep 3, 2026 29d ago | 6-K | $15.05 $14.96 | ▼ −0.60% | ▲ +0.55% | $13.36 (−11.23%) |
Sep 1, 2026 4w ago | 6-K | $14.38 $14.68 | ▲ +2.09% | ▲ +2.00% | $13.36 (−7.09%) |
Sep 1, 2026 4w ago | 6-K | $14.38 $14.68 | ▲ +2.09% | ▲ +2.00% | $13.36 (−7.09%) |
Aug 27, 2026 5w ago | 6-K | $14.55 awaiting T+5 | awaiting T+5 | — | $13.36 (−8.18%) |
Aug 21, 2026 6w ago | 6-K | $14.59 $14.67 | ▲ +0.55% | ▲ +0.07% | $13.36 (−8.43%) |
Aug 20, 2026 6w ago | 6-K | $14.21 $14.55 | ▲ +2.39% | ▲ +1.28% | $13.36 (−5.98%) |
Aug 18, 2026 6w ago | 424B5 | $14.24 $14.63 | ▲ +2.74% | ▲ +2.94% | $13.36 (−6.18%) |
Aug 13, 2026 7w ago | 6-K | $14.78 $14.21 | ▼ −3.86% | ▼ −1.89% | $13.36 (−9.61%) |
US Market Status
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