Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 81

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 81
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 may continue to publish regulatory technical standards and implementing
technical standards to be adopted by the European Commission and certain other guidelines. These standards and guidelines could be potentially relevant to determining when or how a Relevant Spanish Resolution Authority may exercise the Spanish Bail-in Power. No assurance can be given that these standards and guidelines will not be detrimental to the rights of a holder of Preferred Securities under, and the value of a holder’s
investment in, the Preferred Securities.

Finally, to the extent that any resulting treatment of a holder of the Preferred Securities
pursuant to the exercise of the Spanish Bail-in Power is less favorable than would have been the case under the hierarchy in normal insolvency proceedings, a holder of such affected Preferred Securities may
have a right to compensation under the BRRD and the SRM Regulation based on an independent valuation of the institution, in accordance with Article 10 of RD 1012/2015 and the SRM Regulation, together with any other compensation provided for in any
Applicable Banking Regulations, including, inter alia, compensation in accordance with Article 36.5 of Law 11/2015. Any such compensation right is unlikely to compensate that holder for the losses it has actually incurred and, in any event, there is
likely to be a considerable delay in the recovery of such compensation.

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-inPower by the Relevant Spanish Resolution Authority.

The Indenture and the Preferred Securities provide that the courts of Spain will have exclusive jurisdiction in respect of a Bail-in Dispute, and each holder and beneficial owner of any Preferred Securities will submit, to the extent it may effectively do so, to the exclusive jurisdiction of the Spanish courts in relation to any Bail-in Dispute. They also provide that each holder and beneficial owner of any Preferred Securities irrevocably waives, to the extent it may effectively do so, any objection to the Spanish courts on the grounds
that they are an inconvenient or inappropriate forum in respect of any such suit or proceeding. Litigation in Spain is subject to procedural rights and other rules that are different from those of the United States. Litigation and legal enforcement
in Spain may be more costly, time-consuming and slow than in other jurisdictions. Furthermore, it may be more complex to predict the outcome of administrative and court proceedings in Spain than in other jurisdictions.

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

The