Bond BBVA Banco 0.875% ( XS2430998893 ) in EUR

BBVA Banco

94.4 % ▲

Spain

XS2430998893 ( in EUR )

0.875% per year ( payment 1 time a year)

13/01/2029

Prospectus brochure of the bond BBVA XS2430998893 en EUR 0.875%, maturity 13/01/2029

14/01/2026 ( In 249 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 EUR, with the ISIN code XS2430998893, pays a coupon of 0.875% per year.
The coupons are paid 1 time per year and the Bond maturity is 13/01/2029

FINAL VERSION
PROHIBITION OF SALES TO EEA RETAIL INVESTORS
The Notes are not intended to and shall 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 Directive 2014/65/EU
(as amended, MiFID II); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended or
superseded, the Insurance Distribution Directive), where that customer would not qualify as a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 the Prospectus Regulation. Consequently no key information document required by
Regulation (EU) No 1286/2014 (as amended, 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 otherwise making them available to any retail investor in the EEA may
be unlawful under the PRIIPs Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS
The Notes are not intended to and shall not be offered, sold or otherwise made available to any retail
investor in the United Kingdom (the UK). For these purposes, a retail investor means a person who is
one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation (EU) No 2017/565
as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the
EUWA); (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations
made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify
as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it
forms part of UK domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in
Article 2 of Regulation (EU) 2017/1129 as it forms part of UK domestic law by virtue of the EUWA.
Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part
of UK domestic law by virtue of the EUWA (as amended, the UK PRIIPs Regulation) for offering or
selling the Notes or otherwise making them available to retail investors in the UK has been prepared
and therefore offering or selling the Notes or otherwise making them available to any retail investor in
the UK may be unlawful under the UK PRIIPs Regulation.
MIFID II PRODUCT GOVERNANCE/PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES AS THE ONLY TARGET MARKET 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 MiFID II; and (ii) all channels for distribution of the Notes to eligible
counterparties and professional clients are appropriate. The target market assessment indicates that the
Notes are incompatible with the knowledge, experience, needs, characteristic and objective of clients
which are retail clients (as defined in MiFID II) and accordingly the Notes shall not be offered or sold
to any retail clients. 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.
UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND
ELIGIBLE COUNTERPARTIES ONLY TARGET MARKET 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 only eligible
counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook (COBS),
and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 (UK MiFIR); and (ii)

FINAL VERSION
all channels for distribution of the Notes to eligible counterparties and professional clients are
appropriate. The target market assessment indicates that the Notes are incompatible with the
knowledge, experience, needs, characteristic and objective of clients which are retail clients
(as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018)) and accordingly the
Notes shall not be offered or sold to any retail clients. 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 the FCA Handbook
Product Intervention and Product Governance Sourcebook (the UK MiFIR Product
Governance Rules) 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.
Banco Bilbao Vizcaya Argentaria, S.A.
Issuer Legal Entity Identifier (LEI): K8MS7FD7N5Z2WQ51AZ71
Issue of EUR 1,000,000,000 Senior Non-Preferred Notes due January 2029
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 21st July, 2021 and the supplements to it
dated 3 August, 2021 and 11 November, 2021 which together constitute a base prospectus for the
purposes of the Prospectus Regulation (the Offering Circular). This document constitutes the Final
Terms of the Notes described herein for the purposes of the Prospectus Regulation and must be read in
conjunction with the Offering Circular in order to obtain all the relevant information. The Offering
Circular has been published on the website of Euronext Dublin.

1.
Issuer:
Banco Bilbao Vizcaya Argentaria, S.A.
2.
(a)
Series Number:
171
(b)
Tranche Number:
1
(c)
Date on which the Notes will be Not Applicable
consolidated and form a single
Series:
3.
Specified Currency or Currencies:
Euro (EUR)
4.
Aggregate Nominal Amount:

(a)
Series:
EUR 1,000,000,000
(b)
Tranche:
EUR 1,000,000,000
5.
Issue Price:
99.826 per cent. of the Aggregate Nominal
Amount
6.
(a)
Specified Denomination:
EUR 100,000 and integral multiples of
EUR 100,000 thereafter

FINAL VERSION

(b)
Calculation Amount (in relation EUR 100,000
to calculation of interest in
global form see Conditions):
7.
(a)
Issue Date:
14 January 2022
(b)
Interest Commencement Date:
In respect of the fixed rate of interest, the Issue
Date
In respect of the floating rate of interest (if
applicable), the Optional Redemption Date
8.
Maturity Date:
Interest Payment Date falling in or nearest to 14
January 2029
9.
Interest Basis:
For the period from, and including, the Issue
Date to, but excluding, the Optional Redemption
Date: 0.875 per cent. Fixed Rate

If not redeemed in whole on the Optional
Redemption Date, for the period from, and
including, the Optional Redemption Date to, but
excluding, the Maturity Date: 3 month
EURIBOR + 0.82 per cent. Floating Rate

(see paragraphs 14 and 16, 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 per cent. of their nominal
amount
11.
Change of Interest Basis:
Optional Redemption Date
(see paragraph 16, below)
12.
Put/Call Options:
Issuer Call

(see paragraph 19 below)
13.
(a)
Status of the Notes
Senior
(b)
Status of Senior Notes:
Senior Non-Preferred
(c)
Status of Subordinated Notes:
Not Applicable
(d)
Date
Board approval for Not Applicable
issuance of Notes obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.
Fixed Rate Note Provisions
Applicable

FINAL VERSION
(a)
Rate(s) of Interest:
0.875 per cent. per annum payable in arrear on
each Interest Payment Date
(b)
Interest Payment Date(s):
14 January in each year commencing on 14
January 2023 up to, and including, 14
January 2028, subject to adjustment for payment
purposes only and not for interest accrual
purposes, in accordance with the Following
Business Day Convention
(c)
Fixed Coupon Amount(s) for EUR 875.00 per Calculation Amount
Notes 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:
Actual/Actual (ICMA)
(f)
Determination Date(s):
14 January in each year
15.
Fixed Reset Note Provisions
Not Applicable
16.
Floating Rate Note Provisions
Applicable
(a)
Specified
Period(s)/Specified 14 April 2028, 14 July 2028, 14 October 2028
Interest Payment Dates:
and 14 January 2029, subject to adjustment in
accordance with the Business Day Convention
set out in (b) below
(b)
Business Day Convention:
Modified Following Business Day Convention
(c)
Additional Business Centre(s):
Not Applicable
(d)
Manner in which the Rate of Screen Rate Determination
Interest and Interest Amount is
to be determined:
(e)
Party responsible for calculating Not Applicable
the Rate of Interest and Interest
Amount (if not the Principal
Paying Agent):
(f)
Screen Rate Determination:
Applicable
Reference Rate:
3 month EURIBOR
Interest Determination Date(s):
The second day on which the TARGET2 System
is open prior to the start of each Interest Period

FINAL VERSION
Relevant Screen Page:
Reuters EURIBOR01
Observation Method:
Not Applicable
Not Applicable
Observation Look-Back Period:
Index Determination:
Not Applicable
(g)
ISDA Determination:
Not Applicable
(h)
Linear Interpolation:
Not Applicable
(i)
Margin(s):
+ 0.82 per cent. per annum
(j)
Minimum Rate of Interest:
Not Applicable
(k)
Maximum Rate of Interest:
Not Applicable
(l)
Day Count Fraction:
Actual/360
17.
Zero Coupon Note Provisions
Not Applicable
PROVISIONS RELATING TO

REDEMPTION
18.
Tax Redemption

If redeemable in part:

(a)
Minimum Redemption Amount: EUR 100,000
(b)
Maximum Redemption
EUR 999,900,000
Amount:
19.
Issuer Call
Applicable
(a)
Optional Redemption Date(s):
14 January 2028
(b)
Optional Redemption Amount:
EUR 100,000 per Calculation Amount
(c)
If redeemable in part:
Not Applicable
(a)
Minimum Redemption Not Applicable
Amount:
(b)
Maximum Redemption Not Applicable
Amount:
(d)
Notice periods:
Minimum period: 30 days
Maximum period: 90 days
20.
Investor Put
Not Applicable

FINAL VERSION
21.
Final Redemption Amount:
EUR 100,000 per Calculation Amount
22.
Early Redemption Amount payable on EUR 100,000 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):
Applicable
25.
Additional Financial Centre(s):
Not Applicable
26.
Talons for future Coupons to be attached No
to Definitive Bearer Notes:
27.
Condition 16 applies:
Yes
28.
Eligible Liabilities Event:
Applicable
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 Not Applicable
in Condition 5(h)):
32.
Party responsible for calculating the Not Applicable
Spot Rate:
33.
Relevant Currency (if different from that Not Applicable
in Condition 5(h)):
34.
RMB Settlement Centre(s):
Not Applicable
35.
Governing Law:
Spanish Law

FINAL VERSION
10 January 2022

Signed on behalf of the Issuer:
By:
Ignacio Echevarría

............................................................................
Head of WF&CO

Duly authorised

FINAL VERSION
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 Euronext Dublin's regulated market and
admitted to the Official List of Euronext Dublin
with effect from 14 January 2022
(b)
Estimate of total expenses EUR 1,000
related to admission to trading:
2.
RATINGS

The Notes to be issued are expected to be rated
Moody's Investors Services España, S.A.
(Moody's): Baa2
Obligations rated Baa are judged to be medium-
grade and subject to moderate credit risk and as
such may possess certain speculative
characteristics.
S&P Global Ratings Europe Limited (S&P):
BBB+
Adequate capacity to meet financial
commitments, but more subject to adverse
economic conditions.
Fitch Ratings Ireland Limited (Fitch): BBB+
BBB' ratings indicate that expectations of default
risk are currently low. The capacity for payment
of financial commitments is considered
adequate, but adverse business or economic
conditions are more likely to impair this capacity.
Each of Moody's, S&P and Fitch is established in
the European Union and is registered under
Regulation (EC) No. 1060/2009 (as amended).
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Managers, so far as the Issuer is aware, no person involved in the
issue of the Notes has an interest material to the offer. The Managers and their 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.

FINAL VERSION
4.
REASONS FOR THE OFFER AND
ESTIMATED NET PROCEEDS
(a)
Reasons for the offer
The net proceeds of the issue of the Notes will be
used the Group's general corporate purposes,
which include making a profit.
(b)
Estimated net proceeds
EUR 995,760,000
5.
YIELD (Fixed Rate Notes and Fixed
Reset Notes only)
(a)
Indication of yield:
0.905%

The yield is calculated at the Issue Date on the
basis of the Issue Price. It is not an indication of
future yield.
6.
OPERATIONAL INFORMATION

(a)
Trade Date:
5 January 2022
(b)
ISIN:
XS2430998893
(c)
Common Code:
243099889
(d)
CUSIP:
Not Applicable
(e)
Any clearing system(s) other Not Applicable
than Euroclear Bank SA/NV,
Clearstream Banking, S.A. and
the Depository Trust Company
and the relevant identification
number(s):
(f)
Delivery:
Delivery against payment
(g)
Names and addresses of Not Applicable
additional Paying Agent(s) (if
any):
(h)
Intended to be held in a manner Yes. Note that the designation "yes" does not
which would allow Eurosystem necessarily mean that the Notes will be
eligibility:
recognised as eligible collateral for Eurosystem
monetary policy and intra-day credit operations
by the Eurosystem either upon issue or at any or
all times during their life. Such recognition will
depend upon the European Central Bank being
satisfied that Eurosystem eligibility criteria have
been met. The Notes will be deposited initially
upon issue with one of Euroclear Bank SA/NV
and/or Clearstream Banking, S.A. (together, the
ICSDs) acting as common safekeeper

FINAL VERSION
7.
PROHIBITION OF SALES

(a)
Prohibition of Sales to EEA Applicable
Retail Investors:
(b)
Prohibition of Sales to UK Applicable
Retail Investors:
(c)
Prohibition of Sales to Belgian Applicable
Consumers:
8.
RELEVANT BENCHMARKS

(a)
Relevant Benchmark:
EURIBOR is provided by European Money
Markets Institute (EMMI).
As at the date hereof, EMMI appears in the
register of administrators and benchmarks
established and maintained by the European
Securities and Markets Authority pursuant to the
EU Benchmarks Regulation.