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Santander Int. Prod. (IRSH)

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Wednesday 27 November, 2019

Santander Int. Prod.

Notice to Noteholders Series 1006

RNS Number : 8812U
Santander International Prods. PLC
27 November 2019
 

27 November 2019

NOTICE TO NOTEHOLDERS

 

Santander International Products plc

Legal entity identifier (LEI): 549300EBI9IZCEJIF589

Issue of EUR 8,500,000 Fixed Rate Notes due June 2025

Guaranteed by

BANCO SANTANDER, S.A.

under the

EUR 10,000,000,000 Euro Medium Term Note Programme

This Notice is supplemental to and should be read in conjunction with the Final Terms dated 25 November 2019 (the "Final Terms") relating to the EUR 8,500,000 Fixed Rate Notes due June 2025 (the "Notes") issued by Santander International Products plc (the "Issuer") under their EUR 10,000,000,000 Euro Medium Term Note Programme. Terms used but not defined herein shall be as defined in the Final Terms.

Pursuant to Condition 6(k) (Redemption, Purchase and Option - Specific Basis Buy-Back Notes) of the Notes, the Issuer hereby provides the following information relating to the Underlying Transactions and the Extra-Yield:

Underlying Transactions:

As set out in Condition 6(k), "Underlying Transactions" means any type of hedging and/or funding arrangement and/or interest rate swap as selected by the Calculation Agent from time to time.

As at the Issue Date, the Underlying Transactions shall comprise an Index-Components Arbitrage for which purpose:

(i)         the Credit Index CDS transactions are as follows:

Trade Date

Credit Index

Direction

Notional Amount

Currency

6 Nov 2019

Markit CDX North America HY S33 5Y

Short

35,000,000

USD

18 Nov 2019

Markit CDX North America HY S33 5Y

Short

50,000,000

USD

(ii)        the notional amount of the Underlying Transactions may not be higher than 30 times the aggregate principal amount of the Notes; and

(iii)       "Credit Index" includes and is limited to each of the following: iTraxx Europe, iTraxx Crossover, iTraxx Sr Financial, iTraxx Sub Financial, iTraxx SOVX CEEMEA, CDX IG, CDX HY, CDX Latin America, iTraxx Japan, iTraxx Asia Ex Japan IG, iTraxx Australia, CDX EM.

Extra-Yield:

The Extra Yield in respect of the Notes is 35 basis points.

 

 

 

The Issuer accepts responsibility for the information contained in this Notice. Copies of the Final Terms and this Notice are published on the website of Euronext Dublin (www.ise.ie).

SANTANDER INTERNATIONAL PRODUCTS PLC

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

 


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