secwatch.observer — SEC 8-K summary
======================================

Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2026-08-27T21:14:49+00:00
Accession:  0001193125-26-371544
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santander Holdings issues $500M Series J preferred stock to parent BSSA
-----------------------------------------------------------------------

- Issued 500,000 shares of Series J preferred at $1,000 liquidation preference ($500M total) to Banco Santander on Aug 27, 2026.
- Non-cumulative dividend rate 7.271% until Dec 21, 2031, then resets to 5-yr Treasury plus 2.979% quarterly.
- No maturity; redeemable at company's option on/after Dec 21, 2031 or within 90 days of a regulatory capital event, subject to Fed approval.
- Shares sold in private placement exempt under Section 4(a)(2); Articles of Amendment filed in Virginia creating 500,000 authorized Series J shares.
- BSSA has no right to require redemption; proceeds support capital without listing new series on NYSE.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000119312526371544/0001193125-26-371544-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000119312526371544/d430633d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-371544

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer