Company: BBVXF
Filing Date: 2025-07-31
Form Type: F-3ASR
Source: 0001193125-25-170429
Chunk: 119

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: F-3ASR
Chunk 119
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 the contingent
convertible preferred securities being redeemed.

If BBVA gives notice of redemption of the contingent convertible preferred securities of
any series, then on or prior to the relevant redemption date, BBVA will (except as otherwise provided in this section “—Redemption and Repurchase”):

(a) irrevocably deposit with the Principal Paying Agent funds (in the currency in which the contingent convertible preferred securities to be
redeemed are payable) sufficient to pay the Redemption Price; and

(b) give the Principal Paying Agent irrevocable instructions and
authority to pay the Redemption Price to the holders thereof.

If the notice of redemption has been given on any series of contingent
convertible preferred securities, and the funds deposited and instructions and authority to pay given as required above, then on the date of such deposit:

(a) Distributions on the contingent convertible preferred securities of such series shall cease to accrue (unless such deposit is made prior
to the redemption date, in which case Distributions on the contingent convertible preferred securities of such series shall cease to accrue on the redemption date);

(b) such contingent convertible preferred securities of such series will no longer be considered outstanding (except, as otherwise provided in
this section “—Redemption and Repurchase”, if there is a Trigger Event prior to the redemption date or, as otherwise provided in this section “—Redemption and Repurchase”, if the Relevant Spanish
Resolution Authority exercises its Spanish Bail-in Power with respect to such contingent convertible preferred securities prior to the payment of the Redemption Price to the holders); and

(c) the holders of contingent convertible preferred securities of such series will no longer have any rights as holders except the right to
receive the Redemption Price (except, as otherwise provided in this section “—Redemption and Repurchase”, if there is a Trigger Event prior to the redemption date or, as otherwise provided in this section
“—Redemption and Repurchase”, if the Relevant Spanish Resolution Authority exercises its Spanish Bail-in Power with respect to such contingent convertible preferred securities prior to
the payment of the Redemption Price to the holders).

Subject to the following paragraphs, if in connection with any series of contingent
convertible preferred securities BBVA improperly withholds or refuses to pay the Redemption Price of the contingent convertible preferred securities of such series, Distributions will continue to accrue, except as provided in the provisions
described under “—Distributions Discretionary” or “—Restrictions on Payments”, at the rate specified from (and including) the Redemption