Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 599

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 599
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 markets, with a view to diversifying its different funding sources. In terms of short-term funding, as at year-endthere was one commercial paper programme in operation, which governs the issuance of such securities and is aimed at institutional and retail investors. The Banco Sabadell Commercial Paper Programme for 2023, registered with Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A.U. (IBERCLEAR), has an issuance limit of 7 billion euros, which can be extended to 9 billion euros. As at 31 December 2023, the outstanding balance of the programme was 1,383 million euros (net of commercial paper subscribed by Group companies), compared with 872 million euros as at 31 December 2022. Regarding medium- and long-term funding, the Institution has the following programmes in operation:

| – | Programme for the issuance of non-equity securities (“Fixed Income                                                                                                                                                                                 
 Programme”) registered with the CNMV on 16 November 2023, with an issuance limit of 10 billion euros: this programme regulates the issuance of straight, non-preferred or structured bonds and                                                     
 debentures, in addition to mortgage covered bonds and public sector covered bonds (European guaranteed bonds, also known as premium covered bonds) issued under Spanish law through the CNMV and aimed at institutional and retail investors, both 
 domestic and foreign. As at 31 December 2023, the limit                                                                                                                                                                                            |

A-414

| available for new issues under the Banco Sabadell Programme for the issuance of non-equity securities for 2023 is 9.8 billion euros (as at 
 31 December 2022, the available limit under the Fixed Income Programme for 2022 was 9.0 billion euros).                                    |

In 2023, Banco Sabadell carried out two public issues of mortgage covered bonds under the current Fixed Income Programme amounting to a total of 1.2 billion euros.

| Million euro                      |     |           |              |     |                  |               |     |            |            |     |        |       |     |         |   |
|                                   |     | ISIN code |              |     | Type of investor |               |     | Issue date |            |     | Amount |       |     | Term    
 (years) |   |
| Mortgage Covered Bonds 1/2023     |     |           | ES0413860836 |     |                  | Institutional