Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 47

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 47
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 the trustee, (ii) agreed that effective upon, and following, a Conversion Event, no amount shall          
 be due and payable to the holders of the Preferred Securities (other than any accrued and unpaid Distributions to be paid upon a Capital Reduction Conversion as described under “—Capital Reduction” above (where not cancelled or                      
 deemed cancelled pursuant to, or otherwise subject to the limitations on payment set out under, “—Restrictions on Payments” and “—Distributions Discretionary” above) and except as noted in the Indenture                                               
 with respect to certain Spanish stamp and similar taxes payable by BBVA in respect of the issue and delivery of the Common Shares), and our liability to pay any amounts (including the Liquidation Preference of, or any Distribution in respect of the 
 Preferred Securities (other than any accrued and unpaid Distributions to be paid upon a Capital Reduction Conversion as described under “—Capital Reduction” above (where not cancelled or deemed cancelled pursuant to, or                              
 otherwise subject to the limitations on payment set out under, “—Restrictions on Payments” and “—Distributions Discretionary” above) and except as noted in the Indenture with respect to certain Spanish                                                
 stamp and similar taxes payable by BBVA in respect of the issue and delivery of the Common Shares)), shall be automatically released, and the holders of the Preferred Securities so converted shall not have the right to give a direction to the       
 trustee with respect to the Conversion Event and any related Conversion, (iii) agreed that following a Conversion Event, the Relevant Spanish Resolution Authority may exercise its Spanish Bail-in Power                                                
 with respect to the Preferred Securities or any Common Shares that may be received following a Conversion, which exercise                                                                                                                                |

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| may result in any of the consequences described in the first paragraph under “ —Agreement and Acknowledgment with Respect to the Exercise of the Spanish Bail-in Power” below, the cancellation of the Conversion and/or the implementation of material changes to the Conversion terms, (iv) waived, to the extent permitted by the Trust Indenture Act, any 
 claim against the trustee arising out of its acceptance of its trusteeship under, and the performance of its duties, powers and rights in respect of, the Indenture and in connection with the Preferred Securities so converted or to be converted,                                                                                                          
 including, without limitation, claims related to or arising out of or in connection with a Conversion Event and/or any Conversion and (v) authorized, directed and requested DTC, the European Clearing