secwatch.observer — SEC 8-K summary
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Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2022-12-21T23:59:59+00:00
Accession:  0001193125-22-310089
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000119312522310089/0001193125-22-310089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000119312522310089/d435989d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-310089

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