Santander Holdings USA markets fixed-to-floating senior notes

Chicago, June 8 – Santander Holdings USA, Inc. is marketing an offering of fixed-to-floating rate senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The initial rate will convert to a floating rate with quarterly resets, with the floating rate based on SOFR and a percentage.

The notes have six months of full call protection and then may be called with a make-whole premium until the first par call date, one year before the maturity date. Then, the notes will have a one-month par call option.

Santander US Capital Markets LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are working as joint bookrunners.

Deutsche Bank Trust Co. Americas is the trustee.

Santander is using Wachtell, Lipton, Rosen & Katz and McGuireWoods LLP for counsel. The underwriters are using Latham & Watkins LLP.

Proceeds will be used for general corporate purposes.

Based in Boston, Santander Holdings is a parent holding company for a national banking association.

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