Banco Santander SA gives further details on 1.5 billion euro bond

Tuesday, 4 Mar 2014 07:00pm EST 

Banco Santander SA:Informs that final terms of issue of contingent perpetual preferred securities convertible into newly issued ordinary shares of Santander (PCCS), for a nominal value of 1.5 billion euro, have been approved.PCCS to be issued at par and its remuneration has been set at 6.25 percent on an annual basis for the first five years.To be reviewed by applying a margin of 541 basis points on the five-year mid-swap rate.Issue is targeted only at qualified investors. 

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