Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 180

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 180
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, purchasers who wish to trade the Preferred Securities prior to the delivery of the Preferred Securities hereunder may be required to specify
alternative settlement arrangements to prevent a failed settlement. Such purchasers should consult their own advisers.

The Preferred
Securities will settle through the facilities of DTC and its participants. The CUSIP number for the Preferred Securities is 05946K AS0 and the ISIN is US05946KAS06.

No Sales of Similar Securities

We have
agreed that we will not, without the prior written consent of the representatives of the underwriters, offer, sell, contract to sell or otherwise dispose of, in the United States, any U.S. dollar-denominated contingent convertible preferred
securities issued by BBVA which are substantially similar to the Preferred Securities (other than the Preferred Securities), until the later of (i) the completion of the sale of the Preferred Securities by the underwriters (as determined by the
representatives of the underwriters), but not more than 30 calendar days after the date of this prospectus supplement, and (ii) the settlement date of the Preferred Securities.

Short Positions

In connection with the
offering, the underwriters may purchase and sell Preferred Securities in the open market. These transactions may include short sales and purchases on the open market to cover positions created by short sales. Short sales involve the sale by the
underwriters of a greater principal amount of Preferred Securities than they are required to purchase in the offering. The underwriters must close out any short position by purchasing Preferred Securities in the open market. A short position is more
likely to be created if the underwriters are concerned that there may be downward pressure on the price of the Preferred Securities in the open market after pricing that could adversely affect investors who purchase in the offering.

Similar to other purchase transactions, the underwriters’ purchases to cover the syndicate short sales may have the effect of raising or
maintaining the market price of the Preferred Securities or preventing or retarding a decline in the market price of the Preferred Securities. As a result, the price of the Preferred Securities may be higher than the price that might otherwise exist
in the open market.

Neither we nor any of the underwriters make any representation or prediction as to the direction or magnitude of any
effect that the transactions described above may have on the price of the Preferred Securities. In addition, neither we nor any of the underwriters make any representation that the underwriters will engage in these transactions or that these
transactions, once commenced, will