Spanish lender Banco Santander SA (SAN.MC), through Santander International Debt SA, priced a 2 billion euro ($2.47 billion), two-year, senior unsecured bond, one of the banks running the deal said Tuesday.

Credit Agricole CIB, Deutsche Bank AG, Natixis and Santander GBM were the lead managers of the sale, which has the following terms:

 
Amount:           EUR2 billion 
Maturity:         Sep. 4, 2014 
Coupon:           4.375% 
Reoffer Price:    99.828 
Payment Date:     Sep. 4, 2012 
Spread:           390 basis points over midswaps 
Debt Ratings:     Baa2 (Moody's) 
                  A- (Standard & Poor's) 
                  BBB+ (Fitch) 
Denominations:    EUR100,000 
Listing:          Luxembourg

Write to Ben Edwards at ben.edwards@dowjones.com