Short answer , maybe
The p212 is a PCIe gen 2 card 8x card
The S5500BC is a PCIe gen 2 board.. (http://www.intel.com/content/www/us/en/motherboards/server-motherboards/server-board-s5500bc.html?wapkw=s5500bc) with 3 - x8 pcie gen 2 slots.
It is not a card Intel has listed on its tested Hardware and OS list so Intel has never done any testing with this card. It may or may not work.
Some card are key locked to only work in the manufactures board. No idea if this one is or not.
Not much help I know, where it me, and i was buying a raid card, i would go for one off the THOL.
If i already had a card not on the THOL, I would want to do some pretty heavy testing before i trusted critical data to the card.
Intel servers have a good size list of cards and devices in the Test hardware and OS list (or Sever Configure tool) which have gone thru extensive testing in the platform and are proven to work well with the server and supported by the Intel support team.
Cards not on the list are more or less use at your own risk.