Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 5

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 5
---
      |   9 |
| Description of BBVA Ordinary Shares                               |     |      |  10 |
| Description of BBVA American Depositary Shares                    |     |      |  20 |
| Description of Rights to Subscribe for Ordinary Shares            |     |      |  28 |
| Description of the Notes of BBVA                                  |     |      |  29 |
| Description of the Contingent Convertible Preferred Securities of 
 BBVA                                                              |     |      |  53 |
| Spanish Tax Considerations                                        |     |      |  93 |
| U.S. Tax Considerations                                           |     |      | 104 |
| Benefit Plan Investor Considerations                              |     |      | 112 |
| Plan of Distribution                                              |     |      | 113 |
| Validity of the Securities                                        |     |      | 115 |
| Experts                                                           |     |      | 115 |
| Enforcement of Civil Liabilities                                  |     |      | 115 |

S-1

NOTICE TO INVESTORS

Agreements and Acknowledgments of Investors, including Holders and Beneficial Owners

Distribution Cancellation

As described under “Certain Terms of the Preferred Securities—Distributions—Distributions Discretionary” herein, the
terms of the Preferred Securities provide that we may elect, in our sole and absolute discretion, to cancel the payment of any Distribution on the Preferred Securities in whole or in part at any time and for any or no reason. As described under
“Certain Terms of the Preferred Securities—Distributions—Restrictions on Payments” herein, the terms of the Preferred Securities also provide for circumstances under which we will be restricted from making a Distribution
(in whole or in part) on the Preferred Securities on a Distribution Payment Date, and the Distribution payable in respect of any such Distribution Payment Date shall be deemed cancelled (in whole or in part) and therefore not due and payable.
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 terms of the Preferred Securities and as further described herein and
in the accompanying prospectus (as amended hereby). 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 Preferred Securities shall have no rights thereto or to receive any additional Distributions or compensation as a result of such