Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 63

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 63
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 by or on behalf of BBVA or any member of the BBVA Group, the Preferred Securities are also redeemable at the option of BBVA (subject to such redemption being in compliance with Applicable Banking Regulations then in force and subject to the prior consent of the Regulator, if required pursuant to such regulations) in whole but not in part, at any time, at the Redemption Price pursuant to the Clean-upCall. The Redemption Price may be less than the amount you would receive if you were to sell your Preferred Securities at a time of your choosing. Further, it will be difficult for you to predict when, if at all, the Clean-upCall will be exercised. The Preferred Securities are also redeemable on or after the Closing Date at the option of BBVA (subject to such redemption being in compliance with Applicable Banking Regulations then in force and subject to the prior consent of the Regulator, if required pursuant to such regulations) in whole but not in part, at any time, at the Redemption Price if there is a Capital Event or a Tax Event. It is not possible to predict whether or when a Capital Event or Tax Event will occur and so lead to the circumstances in which BBVA is able to elect to redeem the Preferred Securities, and if so whether or not BBVA will elect to exercise such option to redeem the Preferred Securities or any prior consent of the Regulator required for such redemption will be given. Further, if any notice of redemption of the Preferred Securities is given pursuant to the Indenture and a Trigger Event occurs prior to the relevant redemption date, the relevant redemption notice shall be automatically rescinded and shall be of no force and effect, there shall be no redemption of the relevant Preferred Securities on such redemption date and, instead, the Trigger Conversion of the Preferred Securities shall take place as provided in the Indenture. The redemption features of the Preferred Securities are likely to limit their market value. During any period when BBVA has the right to elect to redeem the Preferred Securities, the market value of the Preferred Securities is unlikely to rise substantially above the price at which they can be redeemed. This may also be true prior to such period. Moreover, there can be no assurance that, in the event of any early redemption, holders will be able to reinvest the proceeds at a rate that is equal to the return on the Preferred Securities. Payments of Distributions on the Preferred Securities are discretionary and subject to the fulfilment of certain conditions, and they may be restricted as a result of a failure of BBVA to comply