UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15 (d) of
                       The Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported):
                                  June 27, 2003

                             SOVEREIGN BANCORP, INC.
             (Exact name of registrant as specified in its charter)

Pennsylvania                        1-16581                    23-2453088
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(State or other                     (Commission                (IRS Employer
jurisdiction of)                    File Number)               Ident. No.)
incorporation

1500 Market Street, Philadelphia, Pennsylvania                 19102
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(Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code

(215) 557-4630

N/A
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(Former name or former address, if changed since last report.)

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Item 7. Financial Statements and Exhibits.

      (a) Exhibits.

            The following exhibits are furnished herewith:

            99.1  Press Release, dated June 27, 2003, of Sovereign Bancorp, Inc.
                  (the "Company")

Item 9. Regulation FD Disclosure

On June 27, 2003, the Company issued a press release regarding the settlement of
the remarketing of its Trust Preferred Income Equity Redeemable Securities. The
press release, attached as Exhibit 99.1 hereto and incorporated herein by
reference, is being furnished pursuant to Item 9.

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                    SOVEREIGN BANCORP, INC.

Dated: June 27, 2003                /s/ James D. Hogan
                                    -----------------------
                                    James D. Hogan
                                    Chief Financial Officer




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EXHIBIT INDEX

Exhibit
Number
- -------

99.1 Press Release, dated June 27, 2003, of Sovereign Bancorp, Inc.