Banco Santander Chile announced the commencement of a cash tender offer for up to $500,000,000 combined aggregate principal amount of its outstanding 3.875% Senior Fixed Rate Notes due 2022 and Senior Floating Rate Notes due 2018 from each registered holder of Notes. Santander Chile refers to its offer with respect to the 2022 Fixed Rate Notes as the "Fixed Spread Offer" and its offer with respect to the 2018 Floating Rate Notes as the "Fixed Price Offer". There is currently $750,000,000 and $250,000,000 in aggregate principal amount of the 2022 Fixed Rate Notes and 2018 Floating Rate Notes, respectively, outstanding.

In the Offer, Santander Chile is offering to purchase, under the terms and subject to the conditions set forth in the Offer to Purchase, its 2022 Fixed Rate Notes and 2018 Floating Rate Notes.