Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 177

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 177
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.S.-source for foreign tax credit purposes. The deductibility of capital losses is subject to limitations.

Foreign Tax Credits

The following discussion supplements, and to the extent inconsistent therewith, supersedes, the discussion in the accompanying prospectus under the caption “U.S. Tax Considerations” solely as it relates to the Preferred Securities offered hereby.

The Internal
Revenue Service has released notices that indicate that the Treasury Department and the Internal Revenue Service are considering amendments to the Foreign Tax Credit Regulations described under “U.S. Tax Considerations” in the
accompanying prospectus and that providerelief from certain of their provisions for taxable years ending before the date that a notice or other guidance withdrawing or modifying the temporary relief is issued (or any later date
specified in such notice or other guidance). U.S. Holders should consult their tax advisers regarding the creditability of any Spanish taxes imposed on or in respect of the Preferred Securities, or in respect of any Common Shares or ADSs received
upon a conversion of the Preferred Securities, in their particular circumstances (including whether, notwithstanding the Foreign Tax Credit Regulations, Spanish taxes, if any, imposed on disposition gains may be creditable against a U.S.
Holder’s U.S. federal income tax liability, subject to applicable limitations that vary depending on the U.S. Holder’s particular circumstances).

S-110

UNDERWRITING (CONFLICTS OF INTEREST) We and the underwriters have entered into an underwriting agreement and a pricing agreement with respect to the Preferred Securities. Subject to the terms and conditions set forth in the underwriting agreement, we have agreed to sell to the underwriters (other than BBVA Securities Inc.), and each underwriter (other than BBVA Securities Inc.) has agreed, severally, and not jointly, to purchase from us, the respective Liquidation Preference of the Preferred Securities indicated opposite such underwriter’s name in the following table.

| Underwriters(1)               |     | Liquidation Preference of 
 Preferred Securities      |               |
|:------------------------------|:----|:--------------------------|--------------:|
| Barclays Capital Inc.         |     | $                         |   160,000,000 |
| BBVA Securities Inc.(2)       |     | $                         |   160,000,000 |
| BofA Securities, Inc.         |     | $                         |   160,000,000 |
| Citigroup Global Markets Inc. |     | $                         |   160,000,000 |
| HS