secwatch.observer — SEC 8-K summary
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Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2023-12-19T23:59:59+00:00
Accession:  0001193125-23-298628
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santander Holdings USA issues $500M of 8.170% perpetual preferred stock to parent
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- Issued 500,000 shares of Series G 8.170% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock to Banco Santander on Dec 19, 2023.
- Liquidation preference $1,000/share; dividends quarterly at 8.170% until Dec 21, 2028, then 5-year Treasury + 4.360%.
- No maturity; redeemable at company's option after Dec 21, 2028 or on regulatory capital event, subject to Fed approval.
- Shares sold in private placement exempt from registration under Section 4(a)(2) of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000119312523298628/0001193125-23-298628-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000119312523298628/d505057d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-298628

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