Banco Santander issues EUR 2 million 3-year express memory coupon notes tied to bank stock basket
SAN•Terms, coupons and redemption features
The deal has a 3-year tenor from Aug. 3, 2026, with possible monthly autocall from Aug. 3, 2027 through maturity on Aug. 3, 2029.
Coupons pay 1.13% monthly through Aug. 3, 2027, then become conditional on the worst-performing share staying at or above 40%.
Final redemption pays 100% if the worst-of performance is at least 40%; otherwise repayment tracks the worst-of performance, implying capital risk.
Banco Santander launches EUR 2 million express memory coupon notes
Banco Santander launched a EUR 2 million Titoli 3Y EUR Express Memory Coupon issuance linked to a basket of European bank equities.
The securities are issued by Santander International Products, guaranteed by Santander, governed by English law, with ISIN IT0006777715.
