---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-310089"
form_type: "8-K"
ticker: "SNUS-PI"
cik: "0000811830"
company_name: "Santander Holdings USA, Inc."
filed_at: "2022-12-21T23:59:59+00:00"
generated_at: "2026-06-21T01:12:54.985911+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Santander Holdings USA issues $500M Series E preferred stock at 8.410% to parent BSSA

## Summary
- Issued 500,000 shares of Series E perpetual preferred stock ($1,000 liquidation preference) to parent Banco Santander, S.A. for total $500M on Dec 21, 2022.
- Dividend rate: 8.410% fixed for 5 years, then resets every 5 years at 5-year Treasury rate + 4.743%; non-cumulative, quarterly payments.
- No maturity; redeemable at Santander's option after Dec 21, 2027 or within 90 days of regulatory capital treatment event, subject to Federal Reserve approval.
- Articles of Incorporation amended to delete references to prior Series C and D (redeemed) and add Series E terms.

## SEC filing metadata
- accession: 0001193125-22-310089
- form_type: 8-K
- ticker: SNUS-PI
- cik: 0000811830
- company_name: Santander Holdings USA, Inc.
- filed_at: 2022-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811830/000119312522310089/0001193125-22-310089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811830/000119312522310089/d435989d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-310089
- JSON: https://secwatch.observer/filing/0001193125-22-310089.json
- Plain text: https://secwatch.observer/filing/0001193125-22-310089.txt

## Key facts
- Governance Changes
  Santander Holdings USA, Inc.: Amended and restated articles of incorporation to establish Series E Preferred Stock and delete references to Series C and D preferred stock (effective 2022-12-21).
  - Change: charter amendment
  - Effective: 2022-12-21
  source text: On December 19, 2022, in connection with the Purchase Agreement, the Company filed Articles of Restatement (the “Restatement”) with the Secretary of State of the Commonwealth of Virginia amending and restating the Company’s Articles of Incorporation (the “Amended and Restated Articles of Incorporation”) and establishing the rights, preferences, privileges, qualifications, restrictions and limitations of the Series E Preferred Stock. The Amended and Restated Articles of Incorporation were accepted on December 19, 2022, and became effective on December 21, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/811830/000119312522310089/0001193125-22-310089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.