Bond BBVA Banco 5.25% ( XS1824263260 ) in USD

BBVA Banco

100 % ▼

Spain

XS1824263260 ( in USD )

5.25% per year ( payment 2 times a year)

28/05/2033

Prospectus brochure of the bond BBVA XS1824263260 en USD 5.25%, maturity 28/05/2033

200 000 USD

300 000 000 USD

29/05/2025 ( In 18 days )

BBVA is a Spanish multinational financial services corporation offering a wide range of banking, investment, and wealth management products and services globally.

The Bond issued by BBVA Banco ( Spain ) , in USD, with the ISIN code XS1824263260, pays a coupon of 5.25% per year.
The coupons are paid 2 times per year and the Bond maturity is 28/05/2033

FINAL TERMS

MIFID II product governance / Professional investors and ECPs only target

Solely for the purposes of each manufacturer's product approval process, the target market assessment
in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible
counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended,
MiFID II); and (ii) all channels for distribution of the Notes to eligible counterparties and
professional clients fare appropriate. Any person subsequently offering, selling or recommending the
Notes (a distributor) should take into consideration the manufacturers' target market assessment;
however, a distributor subject to MiFID II is responsible for undertaking its own target market
assessment in respect of the Notes (by either adopting or refining the manufacturers' target market
assessment) and determining appropriate distribution channels.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS
The Notes, are not intended to be offered, sold or otherwise made available to, and should not be
offered, sold or otherwise made available to any retail investor in the European Economic Area (the
EEA). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client
as defined in point (11) of Article 4(1) of MiFID II; (ii) a customer within the meaning of Directive
2002/92/EC (IMD), where that customer would not qualify as a professional client as defined in point
(10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC
(as amended, the Prospectus Directive). Consequently no key information document required by
Regulation (EU) No 1286/2014 (the PRIIPs Regulation) for offering or selling the Notes or
otherwise making them available to retail investors in the EEA has been prepared and therefore
offering or selling the Notes (or beneficial interests therein) or otherwise making them available to
any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
21 May 2018

Banco Bilbao Vizcaya Argentaria, S.A.
Issue of USD 300,000,000 5.250 per cent. Tier 2 Subordinated Notes due 29 May 2033
under the 40,000,000,000
Global Medium Term Note Programme
PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the terms and conditions
(the Conditions) set forth in the Offering Circular dated 17 July 2017 and the supplements to it dated
31 July 2017, 27 October 2017, 28 December 2017, 14 February 2018, 25 April 2018 and 30 April
2018 which together constitute a base prospectus for the purposes of the Prospectus Directive (the
Offering Circular). This document constitutes the Final Terms of the Notes described herein for the
purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Offering
Circular. Full information on the Issuer and the offer of the Notes is only available on the basis of the
combination of these Final Terms and the Offering Circular. The Offering Circular has been published
on the website of the London Stock Exchange.

1.
Issuer:
Banco Bilbao Vizcaya Argentaria, S.A.
2.
(a)
Series Number:
157
(b)
Tranche Number:
1

1

(c)
Date on which the Notes will be Not Applicable
consolidated and form a single
Series:
3.
Specified Currency or Currencies:
United States Dollars ("USD")
4.
Aggregate Nominal Amount:

(a)
Series:
USD 300,000,000
(b)
Tranche:
USD 300,000,000
5.
Issue Price:
99.2318 per cent. of the Aggregate Nominal
Amount
6.
(a)
Specified Denominations:
USD 200,000
(b)
Calculation Amount (in relation to USD 200,000
calculation of interest in global form
see Conditions):
7.
(a)
Issue Date:
29 May 2018
(b)
Interest Commencement Date:
Issue Date
8.
Maturity Date:
29 May 2033, subject to adjustment, for the
purpose of making payments only and not for
interest accrual purposes, in accordance with
the Business Day Convention specified below.
9.
Interest Basis:
5.250 per cent. Fixed Rate

(see paragraph 14 below)
10.
Redemption/Payment Basis:
Subject to any purchase and cancellation or
early redemption, the Notes will be redeemed
on the Maturity Date at 100.00 per cent. of
their nominal amount
11.
Change of Interest Basis:
Not Applicable
12.
Put/Call Options:
Not Applicable
13.
(a)
Status of the Notes:
Subordinated
(b)
Status of Senior Notes:
Not Applicable
(c)
Status of Subordinated Notes:
Tier 2 Subordinated

2

(d)
Date [Board] approval for issuance Not Applicable
of Notes obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.
Fixed Rate Note Provisions
Applicable

(a)
Rate(s) of Interest:
5.250 per cent. per annum payable semi-
annually in arrear on each Interest Payment
Date
(b)
Interest Payment Date(s):
29 May and 29 November in each year up to
and including the Maturity Date, subject to
adjustment, for the purpose of making
payments only and not for interest accrual
purposes, in accordance with the Following
Business Day Convention

(c)
Fixed Coupon Amount(s) for Notes USD 5,250.00 per Calculation Amount
in definitive form (and in relation to
Notes
in
global
form
see
Conditions):

(d)
Broken Amount(s) for Notes in Not Applicable
definitive form (and in relation to
Notes
in
global
form
see
Conditions):

(e)
Day Count Fraction:
30/360
(f)
Determination Date(s):
Not Applicable
15.
Fixed Reset Provisions:
Not Applicable
16.
Floating Rate Note Provisions
Not Applicable
17.
Zero Coupon Note Provisions
Not Applicable

3

PROVISIONS RELATING TO REDEMPTION

18.
Tax Redemption
If redeemable in part:
(a)
Minimum
Redemption
Amount:
USD200,000
(b)
Maximum Redemption Amount:
USD299,800,000
19.
Issuer Call
Not Applicable
20.
Investor Put
Not Applicable
21.
Final Redemption Amount:
USD 200,000 per Calculation Amount
22.
Early Redemption Amount payable on USD 200,000 per Calculation Amount
redemption for taxation reasons, on an event
of default, upon the occurrence of a Capital
Event or upon the occurrence of an Eligible
Liabilities Event:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
23.
Form of Notes:
Bearer Notes:

Temporary Bearer Global Note exchangeable
for a Permanent Bearer Global Note which is
exchangeable for Definitive Notes upon an
Exchange Event excluding the exchange event
described in paragraph (iii) of the definition in
the Permanent Global Note
24.
New Global Note (NGN):
Not Applicable
25.
Additional Financial Centre(s):
For the avoidance of doubt the Financial
Centres will be New York, London and
TARGET2
26.
Talons for future Coupons to be attached to Yes, as the Notes have more than 27 coupon
Definitive Bearer Notes:
payments, Talons may be required if, on
exchange into definitive form, more than 27
coupon payments are still to be made
27.
Condition 16 applies:
Yes
28.
Eligible Liabilities Event:
Applicable in accordance with the Conditions

4

29.
Additional Events of Default (Senior Not Applicable
Preferred Notes):
30.
RMB Currency Event:
Not Applicable
31.
Spot Rate (if different from that set out in Not Applicable
Condition 5(h)):
32.
Party responsible for calculating the Spot Not Applicable
Rate:
33.
Relevant Currency (if different from that in Not Applicable
Condition 5(h)):
34.
RMB Settlement Centre(s)

Not Applicable

Signed on behalf of the Issuer:

By: ........................................................................

Duly authorised

5

PART B - OTHER INFORMATION

1.
LISTING AND ADMISSION TO TRADING
(a)
Listing
and
Admission
to Application has been made by the Issuer (or on
trading:
its behalf) for the Notes to be admitted to trading
on the London Stock Exchange's regulated
market and to the Official List of the UK Listing
Authority with effect from 29 May 2018.
(b)
Estimate of total expenses related GBP 4,020
to admission to trading:
2.
RATINGS

The Notes to be issued are expected to be rated:
Moody's Investors Services España, S.A.: Baa3
Standard & Poor's Credit Market Services
Europe Limited: BBB
Fitch Ratings España, S.A.U.: BBB+
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Dealers, so far as the Issuer is aware, no person involved in
the issue of the Notes has an interest material to the offer. The Dealer and its affiliates have
engaged and may in the future engage in investment banking and/or commercial banking
transactions with, and may perform other services for, the Issuer and its affiliates in the
ordinary course of business.
4.
YIELD (Fixed Rate Notes and Fixed
Reset Notes only)
Indication of yield:
5.325 per cent.

The yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of
future yield.
5.
OPERATIONAL INFORMATION

(a)
ISIN:
XS1824263260
(b)
Common Code:
182426326
(c)
CUSIP:
Not Applicable
(d)
Any clearing system(s) other Not Applicable
than Euroclear Bank SA/NV,
Clearstream Banking, S.A. and

6

the Depository Trust Company
and the relevant identification
number(s):
(e)
Delivery:
Delivery against payment
(f)
Names
and
addresses
of Not Applicable
additional Paying Agent(s) (if
any):
6.
PROHIBITION OF SALES TO EEA

RETAIL INVESTORS

Prohibition of sales to EEA Retail
Applicable
Investors
7.
THIRD PARTY INFORMATION

Not Applicable

7

8