Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 18

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 18
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 prospectus) or approve any invitation or inducement to participate in, acquire or underwrite the Preferred Securities (or any beneficial interests therein) where that invitation or inducement is addressed to or disseminated in 
 such a way that it is likely to be received by a retail client or any person in Hong Kong or Singapore that is not a Hong Kong professional investor or a Singapore professional investor, respectively.                                                |

In selling or offering the Preferred Securities or making or approving communications relating to the Preferred Securities, it may not rely on the limited exemptions set out in COBS; S-7

| (iii) | if it is a person in Hong Kong, it is a Hong Kong professional investor; |

| (iv) | if it is a person in Singapore, it is a Singapore professional investor; and |

| (v) | it will at all times comply with all applicable laws, regulations and regulatory guidance (whether inside or                                                                                                                                        
 outside the EEA, the United Kingdom, Hong Kong or Singapore) relating to the promotion, offering, distribution and/or sale of the Preferred Securities (or any beneficial interests therein), including (without limitation) MiFID II (including as 
 implemented in Spain and the United Kingdom, and as the relevant implementing regulations form part of domestic law in the United Kingdom), the FCA Handbook and any other such applicable laws, regulations and regulatory guidance relating to    
 determining the appropriateness and/or suitability of an investment in the Preferred Securities (or any beneficial interests therein) by investors in any relevant jurisdiction.                                                                    |

Each prospective investor further acknowledges that:

| (i) | the identified target market for the Preferred Securities (for the purposes of the product governance 
 obligations in MiFID II) is eligible counterparties and professional clients only;                    |

| (ii) | the target market assessment indicates that the Preferred Securities are incompatible with the knowledge,                                                                                                       
 experience, needs, characteristics and objectives of clients which are retail clients (as defined in MiFID II) and accordingly the Preferred Securities shall not be offered or sold to any retail clients; and |

| (iii) | no key information document (KID) under the PRIIPs Regulation and the UK PRIIPs Regulation, respectively, has                                                                                                                         
 been prepared and therefore offering or selling the Preferred Securities or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation and the UK PRIIPs Regulation, respectively. |

Each prospective investor in the Preferred Securities should inform itself of, and