Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 3

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 3
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revocably convertible into Common Shares unless a holder elects that the Preferred Securities held by it shall not be so converted by delivery and receipt of a duly completed and signed Election Notice (as defined herein) on or before the tenth Business Day (as defined herein) immediately following the Capital Reduction Notice Date (as defined in the accompanying prospectus), and all of our obligations under the Preferred Securities that are so converted (except with respect to the payment of certain Spanish stamp and similar taxes payable by BBVA in respect of the issue and delivery of the Common Shares) shall be irrevocably and automatically released in consideration of our issuance and delivery of the Common Shares to the Conversion Shares Depository (except that we may need to pay certain accrued and unpaid Distributions (where not cancelled or deemed cancelled pursuant to, or otherwise subject to the limitations on payment set out under, “ Certain Terms of the Preferred Securities—Distributions—Restrictions on Payments ” and “ Certain Terms of the Preferred Securities—Distributions—Distributions Discretionary ” herein)). Neither the U.S. Securities and Exchange Commission (the “SEC”) nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. The Preferred Securities are not intended to be sold and shall not be sold to retail investors (which for the purposes of this prospectus supplement shall include retail clients) in any jurisdiction. Prospective investors are referred to the section headed “ Notice to Investors ” on page S-2of this prospectus supplement. Investing in the Preferred Securities involves significant risks. See “ Risk Factors ” beginning on page S-41 of this prospectus supplement and page 6 of the accompanying prospectus, as well as in the documents incorporated by reference.

| Per Preferred Security     |     | Issue Price |       100.000 | % |     | Underwriting   
 Discounts and  
 Commissions(1) |     0.850 | % |     | Proceeds to  
 BBVA, Before 
 Expenses     |      99.150 | % |
|:---------------------------|:----|:------------|--------------:|:--|:----|:---------------|----------:|:--|:----|:-------------|------------:|:--|
| Total Preferred Securities |     | $           | 1,000,000,000 |   |     | $              | 8,500,000 |   |