Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 128

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 128
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 amount of Distribution shall become or                                                                                                                          
 remain due and payable in respect of the relevant Distribution Period to the extent that it has been cancelled or deemed cancelled by BBVA as set forth under “ —Distributions Discretionary” above and/or as a result of the 
 limitations on payment set forth under “ —Restrictions on Payments” above; and                                                                                                                                                |

| (ii) | a cancellation or deemed cancellation of any Distribution (in whole or in part) in accordance with the terms of                                                                                                                                           
 the Preferred Securities or the Indenture shall not constitute an Enforcement Event or other default under the terms of the Preferred Securities or the Indenture, or the occurrence of any event related to the insolvency of BBVA or entitle holders to 
 take any action to cause such Distribution to be paid or the liquidation, dissolution or winding-up of BBVA or in any way limit or restrict BBVA from making any distribution or equivalent payment in connection                                         
 with any instrument, including any instrument ranking junior to the contingent convertible preferred securities of such series (including, without limitation, any CET1 Capital of BBVA or any member of the BBVA Group), or in respect of any Parity     
 Security or other Security, except to the extent Applicable Banking Regulations otherwise provide.                                                                                                                                                        |

Distributions will only be due and payable on a Distribution Payment Date to the extent they are not cancelled or deemed cancelled previously or thereafter in accordance with the provisions described herein and in the accompanying prospectus. Any Distributions cancelled or deemed cancelled (in each case, in whole or in part) in the circumstances described herein shall not be due and shall not accumulate or be payable at any time thereafter, and holders of the contingent convertible preferred securities shall have no rights thereto or to receive any additional Distributions or compensation as a result of such cancellation or deemed cancellation. Liquidation Distribution Except as set forth in the following paragraph, in the event of any voluntary or involuntary liquidation or winding-upof BBVA (a “ Liquidation Event”), holders of the Preferred Securities (unless previously converted into Common Shares in accordance with “ Description of the Contingent Convertible Preferred Securities of BBVA—Conversion” in the accompanying prospectus, as amended hereby) shall be entitled to receive out of the assets of BBVA available for distribution to holders of such Preferred Securities, the Liquidation Distribution. Such entitlement will arise before any distribution of assets is made to holders of Common Shares or any other instrument of BBVA ranking junior to the Preferred Securities. If, upon the