Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 56

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 56
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 requires, among other things, that BBVA Securities Inc. will not confirm any sales of the Preferred Securities to any account over which it exercises discretionary authority 
 without the specific written approval of the transaction from the account holder.                                                                                                                                                                  |

| See “Underwriting (Conflicts of Interest)—Conflicts of Interest”. |

S-37

| Trustee and Agents | The Bank of New York Mellon, acting (except with respect to its role as Contingent Convertible Preferred Security Registrar) through its London Branch (at 160 Queen Victoria Street, London EC4V 4LA, United Kingdom or such other location as         
 notified by the trustee to BBVA from time to time), will act as trustee, Paying and Conversion Agent, Calculation Agent, Principal Paying Agent and Contingent Convertible Preferred Security Registrar with respect to the Preferred Securities under, 
 and as such terms are defined in, the Indenture.                                                                                                                                                                                                        |

| Use of Proceeds | We expect that the net proceeds from the offering of the Preferred Securities will amount to $990,291,641 after deduction of the underwriting commissions and the other expenses incurred in connection with the offering of the Preferred 
 Securities. We intend to use the net proceeds of the offering for general corporate purposes.                                                                                                                                              |

| See “Use of Proceeds”. |

| Spanish Tax Law Requirements | Under the regulations established by RD 1065/2007, income (as defined below) obtained in respect of the Preferred Securities will not be subject to withholding tax in Spain, provided certain requirements are met, including that the Paying         
 Agent provides BBVA, in a timely manner, with a duly executed and completed Payment Statement. See “Spanish Tax Considerations—Tax Reporting Obligations of the Issuer”. For these purposes, “income” means, with                                      
 respect to a Distribution Payment Date, the aggregate Distribution paid on a Distribution Payment Date or, with respect to a redemption date, the amount of the difference, if any, between the aggregate Redemption Price paid upon the redemption of 
 the Preferred Securities (or a portion thereof) and the aggregate Liquidation Preference of such Preferred Securities, provided that such difference corresponds to a Distribution paid by BBVA.                                                       |

| If the Paying Agent fails to deliver a duly executed and completed Payment Statement on a timely basis, in respect of a Distribution Payment Date or in connection with a redemption date, then the related payment will be                        
 subject to Spanish withholding tax, currently at the rate of 19%. If this were to