Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 123

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 123
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Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A.U.);

“Initial Margin” means 3.249% per annum;

“Legal Holiday”, with respect to any Place of Payment or other location, means a Saturday, a Sunday or a day on which banking
institutions in such Place of Payment or other location are not authorized or obligated to be open;

“Liquidation Preference” means $200,000 per Preferred Security;

“Maximum Distributable Amount” means, at any time, any
maximum distributable amount required to be calculated at such time in accordance with (i) Article 48 of Law 10/2014 and any provision developing Article 48 of Law 10/2014, and any other provision of Spanish law transposing or implementing
Article 141 of the CRD Directive and/or (ii) Applicable Banking Regulations;

“MREL-MDA” means, at any time, the lower of any maximum distributable amount required
to be calculated, if applicable, at such time in accordance with Article 16.a) of BRRD, as implemented in Spain by Article 16 bis of Law 11/2015;

“Parity Securities” means any instrument issued or guaranteed by BBVA (including the guarantee thereof), which instrument or
guarantee, respectively, ranks pari passu with the Preferred Securities upon the insolvency of BBVA;

S-79

“Payment Business Day” means any day, other than Saturday or Sunday, that
is neither a Legal Holiday nor a day on which banking institutions are authorized or required by law, regulation or executive order to close in the City of New York or Madrid;

“Qualifying Preferred Securities” means any securities issued by us (including any Preferred Securities so modified as to
remain Qualifying Preferred Securities) that: (i) contain terms which comply with the then-current requirements to be included in, or count towards, the BBVA Group’s and BBVA’s Tier 1 Capital; (ii) have the same or higher ranking
as is applicable to the Preferred Securities on the Closing Date; (iii) have the same denomination and aggregate outstanding Liquidation Preference, the same terms for the determination of any applicable Distributions, the same redemption
rights and the same dates for payment of Distributions as the Preferred Securities immediately prior to any substitution or modification pursuant to “—Substitution and Modification of the Preferred Securities” herein;
(iv) preserve any existing rights under