Santander UK Plc Preferred Stock 10.375% Perpetual

Santander UK Plc Preferred Stock 10.375% Perpetual is a perpetual preferred equity security issued by Santander UK Plc, a major banking group in the United Kingdom. The instrument is designed to provide fixed-income style distributions while ranking ahead of ordinary shares in the capital structure, making it part of the bank’s broader capital and funding mix. It is used by investors seeking exposure to bank-issued preferred securities and by the issuer as a way to support regulatory capital needs without issuing common equity. The security features a fixed 10.375% dividend rate and does not have a scheduled maturity date, so it remains outstanding unless redeemed under its terms. Within the financial market, it sits in the preferred stock segment, combining characteristics of both equity and income-oriented securities.