Slaughter and May advised Santander UK Group Holdings plc on the establishment of its EUR 30 billion Euro Medium Term Note Programme. The programme allows Santander UK Group Holdings plc to issue notes specifying their status as senior or subordinated.

Slaughter and May also advised Santander UK Group Holdings plc on its issue under the Programme of U.S.$1 billion 4.750%. Dated Subordinated Notes due 2025 and U.S.$500 million 5.625%. Dated Subordinated Notes due 2045. The Notes have been admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange.

The Notes are intended to qualify as Tier 2 Capital. The Notes have been assigned a rating of A- by Fitch, BB+ by Standard and Poor's and Baa2 by Moody's.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Santander Investment Securities Inc. and UBS Securities LLC acted as Joint Lead Managers on the issuance.

CONTACTS

Financing: Miranda Leung (partner), Andrew Chaplin (associate), Chris Armstrong (associate); Tax: Sara Luder (partner), Mike Ringer (associate).