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Banco Santander SA | Fixed-to-Floating Non-Cumulative Guaranteed Series 11 Preferred Securities (SAN.PRF)

This preferred is marked as having been called.
Prospectus excerpt:  Up to 800,000 Fixed-to-Floating Non-Cumulative Guaranteed Series 11 Preferred Securities, par value $1,000 per security, of Santander Finance Preferred, S.A. Unipersonal, which we call the “fixed-to-floating exchange preferred securities.”

The fixed exchange preferred securities and the fixed-to-floating exchange preferred securities constitute separate series of preferred securities of the Issuer.

Except as otherwise described in this prospectus, distributions on the fixed-to-floating exchange preferred securities accrue from the date of original issuance and are payable semi-annually in arrears on March 29 and September 29 in each year, beginning on March 29, 2010 until September 29, 2014 (the “Reset Date”), and on the Reset Date, and quarterly on March 29, June 29, September 29 and December 29 in each year beginning on December 29, 2014.

Full Prospectus PDF », SAN Page »

Alternate symbology:SAN-F, SAN-PF, SANprF
Call Date:9/30/2014 (Now Trading Post Call Date)
Shares Offered:800,000
Liquidation Preference:$1,000
Original Coupon:Fixed rate of 10.5% from and including the date of issuance to but excluding the Reset Date. From and including the Reset Date, the rate of Distributions on the fixed-to-floating exchange preferred securities will be reset quarterly on the first day of each LIBOR Distribution Period to a rate equal to U.S. dollar three month LIBOR, plus a spread to be fixed at the spread-fixing time, which is equal to the difference between 10.5%, and the mid-swaps rate, as displayed on Telerate Page 19901 under the caption “SEMI-BOND” for swapping fixed rate payments for U.S. dollar three-month LIBOR payments for a 5-year period, at the spread-fixing time.
Pay Period:Semi-annual
Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.


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Name:  Banco Santander SA
Sector:  Banking & Savings
Number of ETFs Holding SAN:  9 (see which ones)
Total Market Value Held by ETFs:  $4,253,152,606
Total Market Capitalization:  $30,332,000,000
% of Market Cap. Held by ETFs:  14.02%

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