Banco Santander 4.75% preferreds face NYSE delisting

Available on EDGAR 11/12/2026 - 02:38 PM EST Accepted by SEC EDGAR 11/12/2026 - 02:38 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Banco Santander, S.A. is the issuer named in a Form 25 notice concerning removal from NYSE listing and registration of its Series 10 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities. The notice states that the exchange’s rules for striking the class and the issuer’s requirements for voluntary withdrawal were complied with; the NYSE signed the notification.

Key Figures

Stated coupon rate: 4.750%

1 metrics

Stated coupon rate 4.750% Series 10 securities described in the notice

Key Terms

Contingent Convertible, Non-Cumulative, Tier 1

3 terms

Contingent Convertible financial

"Contingent Convertible Perpetual Preferred Tier 1 Securities"

Non-Cumulative financial

"Non-Step-Up Non-Cumulative Contingent Convertible"

Non-cumulative describes a type of dividend or payment right where any missed distributions are not tracked or owed later; if a company skips a payment, investors do not receive that skipped amount in the future. Think of it like a one-time coupon that expires if not used: it can boost potential income when paid, but offers no catch-up protection, so investors face greater income uncertainty and should price in higher risk or lower yield expectations.

Tier 1 financial

"Perpetual Preferred Tier 1 Securities"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Which Banco Santander securities does the NYSE Form 25 notice cover?

The notice concerns removal from NYSE listing and registration of Banco Santander’s Series 10 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-12518

Issuer:	Banco Santander, S.A.
Exchange:	NEW YORK STOCK EXCHANGE LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	Ciudad Grupo Santander
	Madrid		28660
Telephone number:					+34 91 289 32 80

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Series 10 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-11-12	By	Nadia Surges		Analyst
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.