Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 44

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 44
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 a third party. |

| Conversion Price | The “Conversion Price” shall be, in respect of a Conversion Notice Date, if the Common Shares are: (i) then admitted to trading on a Relevant Stock Exchange, the higher of: (a) the Reference Market Price of a Common                        
 Share (translated into U.S. dollars at the Prevailing Rate, if applicable); (b) the Floor Price; and (c) the nominal value of a Common Share (€0.49 on the Closing Date) (translated into U.S. dollars at the Prevailing Rate, if applicable); 
 or (ii) not then admitted to trading on a Relevant Stock Exchange, the higher of (b) and (c) above.                                                                                                                                            |

| “Floor Price” means $3.8974. The Floor Price is subject to adjustment as described in “Description of the Contingent Convertible Preferred Securities of BBVA—Conversion—Conversion 
 Price—Anti-Dilution Adjustment of the Floor Price” in the accompanying prospectus. On any adjustment, the resultant Floor Price shall be expressed in U.S. dollars.                 |

| “Prevailing Rate” means, in respect of any currencies on any day, the spot rate of exchange between the relevant currencies prevailing as at 12 noon (London time) on that date as appearing on or derived                                      
 from Reuters page ECB37 or, if not available, from any other Reference Page or, if such a rate cannot be determined at such time, the rate prevailing as at 12 noon (London time) on the immediately preceding day on which such rate can be so 
 determined or, if such rate cannot be so determined by reference to the Reference Page, the rate determined in such other manner as an Independent Financial Adviser in good faith shall prescribe.                                             |

| “Reference Market Price” means, in respect of a Common Share at a particular date, the arithmetic mean of the Closing Price per Common Share on each of the five consecutive dealing days on which such 
 Closing Price is available ending on the dealing day immediately preceding such date, rounding the resulting figure to the nearest cent (with 0.5 cents being rounded upwards).                         |

| “Reference Page” means the relevant page or any successor page on Bloomberg or Reuters or any successor service or such other information service provider that displays the relevant information. |

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| “Relevant Stock Exchange” means the Spanish Stock Exchanges or if at the relevant time the Common Shares are not at that time listed and admitted to