Banco Bilbao Vizcaya Argentaria, S.A.
("BBVA"),
in compliance with the Securities Market legislation, hereby
proceeds to notify the following:
INSIDE
INFORMATION
Pursuant to the terms and conditions
of BBVA's $1,000,000,000 Series 9 Non-Step-Up Non-Cumulative
Contingent Convertible Perpetual Preferred Tier 1 Securities (ISIN
US05946KAG67, CUSIP No. 05946K AG6, Common Code 205061932) (the
"Preferred Securities"),
issued on 5 September 2019, having obtained the prior consent of
the European Central Bank, BBVA hereby announces its irrevocable
decision to redeem in whole the Preferred Securities on 5 March
2025 (the "Redemption
Date"), which coincides with the First Reset Date of the
Preferred Securities, as defined in the terms and conditions
thereof.
The redemption price per Preferred
Security shall be $203,250 (the "Redemption Price"), which equals
$200,000 per Preferred Security plus, if applicable, where not
cancelled or deemed cancelled pursuant to, or otherwise subject to,
the limitations on payment set out in the indenture pursuant to
which the Preferred Securities were issued, an amount equal to any
accrued and unpaid distributions for the then current distribution
period to (but excluding) the Redemption Date.
On the Redemption Date, the
Redemption Price will, subject to the satisfaction of the
conditions set forth in the indenture pursuant to which the
Preferred Securities were issued, become due and payable upon each
Preferred Security being redeemed, and Distributions will cease to
accrue on or after that date.
The redemption payment will be made
upon presentation and surrender of the Preferred Securities to The
Bank of New York Mellon, acting through its London Branch, as
Principal Paying Agent for the Preferred Securities, at the address
below:
The Bank of New York Mellon
240 Greenwich Street
New York, New York 10286
United States
Attn: Bond Redemption Unit
Preferred Securities held through
The Depository Trust Company ("DTC") should be surrendered for
redemption in accordance with DTC's procedures therefor.
Madrid, 28
January 2025
