Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 139

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 139
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 purpose of being redeemed, delegating to BBVA’s board of directors the implementation
of the share capital reduction, totally or partially, on one or more occasions. On May 24, 2024, BBVA announced the partial execution of this share capital reduction resolution, through the reduction of BBVA’s share capital by
€36,580,908.35 and the consequent redemption of 74,654,915 shares of €0.49 par value each acquired by BBVA pursuant to a share buyback program scheme and held as treasury shares. For the avoidance of doubt, a share capital reduction
effected pursuant to this March 15, 2024 resolution would not constitute a Capital Reduction for purposes of the Preferred Securities.

Upon Conversion

Except as provided below with respect to fractions, the number of Common Shares to be issued on Conversion in respect of each Preferred
Security to be converted shall be determined by dividing the Liquidation Preference of such Preferred Security by the relevant Conversion Price in effect on the relevant Conversion Notice Date rounded down to the nearest whole number of Common
Shares. Fractions of Common Shares will not be issued on Conversion or pursuant to the provisions described in the fifth paragraph from the end under “Description of the Contingent Convertible Preferred Securities of BBVA—Conversion—Conversion Price—Anti-Dilution Adjustment of the Floor Price” in the accompanying prospectus and no cash payment or other adjustment will be made in lieu thereof. Without prejudice to the generality of the
foregoing, if one or more Delivery Notices and the related Preferred Securities are received by or on behalf of a Paying and Conversion Agent such that the Common Shares to be delivered by or on behalf of the Conversion Shares Depository are to be
registered in the same name or delivered to the same Clearing System participant account, the number of such Common Shares to be delivered in respect thereof shall be calculated on the basis of the aggregate Liquidation Preference of such Preferred
Securities being so converted and rounded down to the nearest whole number of Common Shares.

Upon any Trigger Event, holders (and
beneficial owners) of the Preferred Securities shall have no claim against BBVA in respect of (i) any Liquidation Preference of such Preferred Securities or (ii) any accrued and unpaid Distributions in respect of Preferred Securities, and
the Preferred Securities shall cease to represent any right other than the right to receive Common Shares from or on behalf of the Conversion Shares Depository (except as noted in the Indenture with respect to certain Spanish stamp and