Santander unit redeems preferred stock series

Santander saw its subsidiary Santander Holdings USA announce on 15 September 2026 that it will redeem all outstanding shares of its Series I preferred stock. The redemption is scheduled to take place on 15 October 2026.

The transaction covers all 135,000 outstanding shares of the Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, along with 5,400,000 corresponding depositary shares. Each depositary share represents a 1/40th interest in a Series I share. Santander Holdings USA will redeem the depositary shares at a cash price of $25.00 per share.

The redemption price excludes the regular quarterly dividend. That dividend will be paid separately on 15 October 2026 to shareholders of record at the close of business on 30 September 2026. Broadridge Corporate Issuer Solutions will act as the redemption agent through the Depository Trust Company.

Santander Holdings USA operates as the intermediate holding company for Santander in the United States. In August 2026, the group completed its acquisition of Webster Financial Corporation and Webster Bank, expanding its footprint across the Northeast.