"Santander Vencimiento 19" Insurance Policy

• Market risk: the risk that the value of the assets in which the customer's premium is invested will fall due to changes in market conditions, such as interest rates, or the risk premium of the issuer of the bond. The longer the time to maturity for an asset, the greater the impact of changes to interest rates and the risk premium on its price. This policy has a medium/long term maturity, and therefore the value of the assets is sensitive to changes in market conditions. This insurance policy is also intended to be kept until the maturity date and surrendering it early may result in significant losses and may mean that the customer will not recoup the entire premium that they paid.
• Credit risk: the risk that the Policyholder or the Beneficiaries of the Insurance Policy do not receive the amounts and/or surrender values due to them in the event of non-compliance or insolvency of the Bond issuer and/or Santander Seguros y Reaseguros Compañia Aseguradora S.A.
• Liquidity risk: the risk that the valuation of account units will be suspended. Under exceptional circumstances, the calculation of the value of account units may be suspended when, for any reason, the valuation and/or pricing of the assets is suspended or restricted, in which case no operations may be carried out on the affected assets.

As this is an Insurance Policy whereby the Policyholder undertakes the investment risk, the Insurance Company does not under any circumstances guarantee, using its own assets, the recovery of the amount invested by the Policyholder or the achievement of any returns.

If you require more information about the "Santander Vencimiento 19" Insurance Policy and how to take it out, go to any Banco Santander branch or contact your Personal Santander Manager.