Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 58

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 58
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| · |     | The terms of the Preferred Securities contain a waiver of set-off rights. |

| · |     | The Preferred Securities may be subject to the exercise of the Spanish Bail-in Power by the Relevant Spanish Resolution                                                                    
 Authority. This and other powers contained in Law 11/2015 and the SRM Regulation could materially affect your rights under, and the value of your investment in, the Preferred Securities. |

| · |     | Spanish courts will have exclusive jurisdiction in respect of any suit or proceeding arising out of, relating to or in connection with the exercise of the 
 Spanish Bail-in Power by the Relevant Spanish Resolution Authority.                                                                                        |

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| · |     | The value of the Preferred Securities may be adversely affected by movements in market interest rates. |

| · |     | Credit ratings assigned to BBVA or the Preferred Securities may not reflect all risks of an investment in the Preferred Securities, and a downgrade in credit  
 ratings or unfavorable coverage or recommendations from third-party securities analysts could adversely affect the trading prices of the Preferred Securities. |

| · |     | An active secondary market in respect of the Preferred Securities may never be established or may be illiquid, and the market price of the Preferred Securities 
 may be subject to factors outside of BBVA’s control, all of which could adversely affect the price at which you could sell the Preferred Securities.            |

| · |     | Spanish tax rules may have a detrimental effect on an investment in the Preferred Securities. |

| · |     | Certain dealings in the Preferred Securities may be subject to a financial transaction tax, if approved. |

| · |     | You may be unable to enforce judgments obtained in U.S. courts against BBVA. |

Risks Relating to the Exchange Offer

| · |     | The BBVA Group faces risks related to its acquisitions and divestitures activity, including the Exchange Offer. |

| · |     | The structure, capital, leverage, liquidity, MREL and resolution profile of the BBVA Group if the Exchange Offer is completed remains uncertain. |

| · |     | This prospectus supplement does not include historical financial information of the Target Company. Additionally, the pro forma financial information included                                                 
 herein is based solely on the Target Company’s publicly available information and may not represent the actual historical financial information of the combined group as if the Exchange Offer were completed. |

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RISK FACTORS Prospective investors should consider carefully the risk factors incorporated by reference into this prospectus supplement and