Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 59

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 59
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 as set out below as well as the other information set out elsewhere in this prospectus supplement and the accompanying prospectus (including any other documents incorporated by reference herein, including the 2023 Form 20-F,the 1H24 Form 6-Kand the 9M24 Form 6-K),and reach their own views prior to making any investment decision with respect to the Preferred Securities. Set out below and incorporated by reference herein are certain risk factors that, if they were to materialize, could have a material adverse effect on the business, financial condition and results of operations of BBVA and cause BBVA’s future results to be materially different from past or expected results. BBVA has described only those risks that it considers to be material. There may be additional risks that BBVA currently considers not to be material or of which it is not currently aware, and any of these risks could have the effects set forth above. Risks Relating to BBVA and the BBVA Group For a description of certain significant risks associated with BBVA and the BBVA Group, including certain risks associated with investments in BBVA’s securities, please refer to “ Item 3. Key Information—Risk Factors” in the 2023 Form 20-F,and “ Other Matters” in the 1H24 Form 6-K,each of which is incorporated by reference herein. Risks Relating to the Preferred Securities The Preferred Securities are not a suitable investment for all investors. The Preferred Securities are complex financial instruments and are not a suitable or appropriate investment for all investors and, in particular, the Preferred Securities are not intended to be sold and shall not be sold to retail investors in any jurisdiction. Further, the Preferred Securities, upon issuance, will not be considered to be investment grade securities and, as such, will be subject to a higher risk of price volatility than higher-rated securities. Each potential investor in the Preferred Securities must determine if it is advisable or permissible for it to subscribe for or purchase the Preferred Securities in accordance with the restrictions on such subscription and purchase as set out in this prospectus supplement, the accompanying prospectus and the Indenture, and the suitability of that investment in light of its own circumstances and needs and the characteristics of the investment itself. In particular, each potential investor may wish to consider, either on its own or with the help of its financial and other professional advisers, whether it:

| · |     | has sufficient knowledge and experience to make a meaningful evaluation of the Preferred Securities, the merits and risks of investing in the