Commentary & Deal Flow

Final Books above €1.2bn+ (inc. €300mn JLM)

Launched: 7yr: €750m @ MS+34bp - Books over €1.1bn (incl. €300m JLM)
Guidance: 7yr: MS+37a

• Issuer: Banco Santander Totta S.A.
• LEI: 549300URJH9VSI58CS32
• Issuer Ratings: Baa1/A/A/A (Moody's/S&P/Fitch/DBRS)
• Expected Issue Ratings: Aaa/AA(high) (Moody's/DBRS)
• Notes: Obrigações Cobertas - European Covered Bond (Premium)
• Form: Reg S, Nominative dematerialised book entry form
• Size: €750m
• Coupon: [●]% Fixed, Annual, Act/Act (ICMA) Following Unadjusted
• Settle: 16-Apr-26 (T+5)
• Maturity Date: 16-Apr-33
• Extended Maturity Date: 16-Apr-34
• Spread: MS+34bps
• Reference Gilt: DBR 2.3 15-Feb-33 (HR 102%)
• Hedge Deadline: 13:05 LDN / 14:05 CET
• Denominations: €100k + €100k
• Listing: Euronext Lisbon
• Governing Law: Portuguese law
• Docs: Banco Santander Totta, S.A. €15bn Portuguese Covered Bond Programme approved by the CMVM on 23-May-25 and supplemented from time to time
• Global Coordinator: Santander
• Joint Lead Managers: Barclays, Deutsche Bank, HSBC, Santander (B&D) and Societe Generale
• ISIN: PTBSPKOM0022
• Schedule: Book open, today's business. Books to close at 11:45UKT.
• Fees: The Joint Lead Managers will be paid a fee in connection to the transaction. Details of the fee may be available to investors upon request from your usual contact sales.
• Target Market: The manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom
• Advertisement: The Base Prospectus and any applicable Supplements, when published, will be available on the CMVM (https://www.CMVM.pt).