Banco Santander SA (SAN)

[taintedfud]

Rate: Approximately 0.15 Euros per share equivalent to approx. 0.207060 USD per ADR

Option# 1 Stock: (Subject to ADR fee 0.035 per ADS, Not Subject to 21 % Spanish with holding Tax)

Option# 2 Proceeds from sale of rights (Subject to ADR Fee 0.0025 per ADS & Not Subject to 21 % Spanish with holding Tax)

Option# 3 Cash: (fixed rate of approx 0.15 euro per share equating to an approx. net rate of $ 0.161077 ADS & Subject to 21% Spanish With holding tax, Subject to ADR Fee 0.0025 per ADS)
NRate: Approximately 0.15 Euros per share equivalent to approx.

those adr fees are not small. 0.035 of 0.15 is over 20% of the san donation. it is a tax deduction(i think, but not a tax credit.

the .0025 adr fee on door #2 is also not tax deductable. it is sort of small. the 21% spanish tax showesup as a tax credit.

option #3 also looks decent. i have always taken stock before. i think i got tooken. i think it the worst chose i will think about 2 &3 some more.