Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 261

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 261
---
 notes of such series. For the purpose of this paragraph, the term “default” means any event which is, or after notice or lapse of time or both would become, an event of default with respect to senior notes of such series. Senior Non-PreferredNotes Ranking of Senior Non-PreferredNotes The below description is based on the relevant provisions of the senior non-preferredindenture, which was entered into on June 25, 2019. The provisions relating to the relative status and ranking of credits in the Insolvency Law may be subject to change. Accordingly, investors are directed to read the description of the status and ranking of a particular series of notes in the relevant prospectus supplement and supplemental indenture. According to the senior non-preferredindenture, the senior non-preferrednotes shall be direct, unconditional, unsubordinated and unsecured obligations of BBVA and, upon the insolvency ( concurso de acreedores) of BBVA, in accordance with and to the extent permitted by the Insolvency Law and other applicable laws relating to or affecting the enforcement of creditors’ rights in Spain (including, without limitation, Additional Provision 14.2 of Law 11/2015), the payment obligations of BBVA under the senior non-preferrednotes with respect to claims for principal (which claims will constitute ordinary claims (as defined below)) will rank:

| (i) | junior to any (a) privileged claims (créditos privilegiados) (which shall include, among                                                                                                                                           
 other claims, any claims in respect of deposits for the purposes of Additional Provision 14.1 of Law 11/2015), (b) claims against the insolvency estate (créditos contra la masa) and (c) Senior Preferred Obligations (as defined 
 below);                                                                                                                                                                                                                            |

| (ii) | pari passu without any preference or priority among themselves and with all other Senior Non-Preferred Obligations (as defined below); and |

| (iii) | senior to all subordinated obligations of, or claims against, BBVA (créditos subordinados), 
 present and future,                                                                         |

such that any claim for principal in respect of the senior non-preferrednotes will be satisfied, as appropriate, only to the extent that all claims ranking senior to it have first been satisfied in full and then pro rata with any claims ranking pari passuwith it, in each case as provided above. Claims of holders in respect of interest on the senior non-preferrednotes of any series