| Debt Instruments Eligible as Capital |
| 19. | Debt Instruments Eligible as Capital |
The details of the balance for “Debt Instruments
Eligible as Capital,” associated with the issuance of instruments to constitute Tier 1 and Tier 2 of the regulatory capital as part
of the Capital Optimization Plan, are as follows:
| Schedule of debt
instruments eligible to compose capital |
|
|
|
|
|
|
| Thousand of Reais |
Issuance |
Maturity |
Value (in millions) |
Interest Rate (p.a.) |
2025 |
2024 |
| Financial Bills - Tier II (2) |
Nov-21 |
Nov-31 |
R$5,300 |
CDI+2% |
9,321,771 |
7,995,673 |
| Financial Bills - Tier II (2) |
Dec-21 |
Dec-31 |
R$200 |
CDI+2% |
351,467 |
301,468 |
| Financial Bills - Tier II (2) |
Oct-23 |
Oct-33 |
R$6,000 |
CDI+1.6% |
8,070,433 |
6,949,991 |
| Financial Bills - Tier I (2) |
Sep-24 |
No Term
(Perpetual) |
R$7,600 |
CDI+1,4% |
7,982,784 |
7,890,652 |
| Financial Bills - Tier I |
Dec-25 |
Dec-35 |
R$2,363 |
CDI+0,65% |
2,387,482 |
- |
| Total |
|
|
|
|
28,113,937 |
23,137,784 |
| (1) |
Financial Letters issued in November 2021, November 2024 and December 2025 have a redemption and repurchase option. |
| (2) |
Financial Letters issued in September 2024 have a redemption and repurchase option, and have interest paid semi-annually, starting on
March 5, 2025. |
| Schedule of changes in debt instruments eligible to compose capital |
|
|
|
| |
2025 |
2024 |
2023 |
| Balances at the beginning of the fiscal year |
23,137,784 |
19,626,967 |
19,641,408 |
| Issuance |
2,362,800 |
7,600,200 |
6,000,000 |
| Interest payment Tier I (1) |
1,162,752 |
786,823 |
461,186 |
| Interest payment Tier II (1) |
2,521,221 |
1,736,383 |
1,464,586 |
| Exchange differences / Others |
- |
1,051,377 |
(614,496) |
| Payments
of interest - Tier I and II |
(1,070,620) |
(132,243) |
(713,974) |
| Repurchase |
- |
(7,531,723) |
(6,507,953) |
| Balance at the end of the fiscal year |
28,113,937 |
23,137,784 |
19,626,967 |
| (1) |
Interest remuneration related to Tier 1 and Tier 2 Debt Instruments Eligible as Capital was recorded in the period’s results as
“Interest and Similar Expenses” (Note 32). |
The Notes possess the following characteristics in
common:
(a) The bills may be repurchased or redeemed by Banco
Santander after the 5th (fifth) anniversary counted from the date of issue of the bills, at the Bank's sole discretion or due to changes
in the tax legislation applicable to the bills; or at any time, due to the occurrence of certain regulatory events.
|