Obligation BBVA Banco 0% ( ES0305067D59 ) en EUR

BBVA Banco

100 % ⇌

Espagne

ES0305067D59 ( en EUR )

28/12/2023 - Obligation échue

Prospectus brochure de l'obligation BBVA ES0305067D59 en EUR 0%, échue

50 000 EUR

2 300 000 EUR

BBVA est une banque multinationale espagnole offrant une large gamme de services financiers, notamment la banque de détail, la gestion d'actifs et l'investissement bancaire, opérant principalement en Espagne, en Amérique latine et aux États-Unis.

L'Obligation émise par BBVA Banco ( Espagne ) , en EUR, avec le code ISIN ES0305067D59, paye un coupon de 0% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 28/12/2023

FINAL TERMS
28 December 2020
BBVA GLOBAL MARKETS, B.V.
(a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
incorporated under Dutch law with its seat in Amsterdam, the Netherlands but its tax residency in Spain)
(as "Issuer")
Legal Entity Identifier ("LEI"): 213800L2COK1WB5Q3Z55
Issue of Series 183 EUR 2,300,000 Equity Linked Notes due 2023 (the "Notes")
under the 2,000,000,000
Structured Medium Term Note Programme
guaranteed by
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(incorporated with limited liability in Spain)
(as "Guarantor")
These Notes are not intended for, and are not to be offered to, the public in any jurisdiction of the European
Economic Area or in the United Kingdom. Any person making or intending to make an offer of the Notes may only
do so in circumstances in which no obligation arises for the Issuer or the Dealer to publish a prospectus pursuant to
Article 3 of the Prospectus Regulation or to supplement a prospectus pursuant to Article 23 of the Prospectus
Regulation, in each case, in relation to such offer. The expression "Prospectus Regulation" means Regulation (EU)
2017/1129 (as amended or superseded).
Neither the Issuer nor the Dealer has authorised, nor do they authorise, the making of any offer of Notes in any other
circumstances.
MIFID II PRODUCT GOVERNANCE TARGET MARKET - Solely for the purposes of the 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, professional clients and retail clients, each as defined in
Directive 2014/65/EU (as amended, "MiFID II"); and (ii) the following channels for distribution of the Notes are
appropriate: investment advice, portfolio management and non advised sales, subject to the distributor's suitability
and appropriateness obligations under MiFID II, as applicable. Any person subsequently offering, selling or
recommending the Notes (a "distributor") should take into consideration the manufacturer's 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 manufacturer's target market assessment) and
determining appropriate distribution channels.
All references to Regulations or Directives include, in relation to the UK, those Regulations or Directives as they
form part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 or have been implemented in
UK domestic law, as appropriate.
1

PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the General Conditions of the Notes
(and, together with the applicable Annex(es), the "Conditions") set forth in the Base Prospectus dated 16 July 2020
and the supplements to it dated 6 August 2020 and 24 November 2020 which together constitute a base prospectus
for the purposes of the Prospectus Regulation (the "Base Prospectus"). This document constitutes the Final Terms
of the Notes described herein for the purposes of Article 8 of the Prospectus Regulation and must be read in
conjunction with the Base Prospectus. Full information on the Issuer, the Guarantor and the offer of the Notes is
only available on the basis of the combination of these Final Terms and the Base Prospectus. An issue specific
summary of the Notes is annexed to these Final Terms. The Base Prospectus has been published on the website of
CNMV (www.cnmv.es).
The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the
"Securities Act") or under any state securities laws, and the Notes may not be offered, sold, transferred, pledged,
delivered, redeemed, directly or indirectly, at any time within the United States or to, or for the account or benefit
of, or by, any U.S. person. Furthermore, the Notes do not constitute, and have not been marketed as, contracts of
sale of a commodity for future delivery (or options thereon) subject to the U.S. Commodity Exchange Act, as
amended (the "CEA"), and trading in the Notes has not been approved by the U.S. Commodity Futures Trading
Commission (the "CFTC") pursuant to the CEA, and no U.S. person may at any time trade or maintain a position in
the Notes. For a description of the restrictions on offers and sales of the Notes, see "Subscription and Sale" in the
Base Prospectus.
As used herein, "U.S. person" includes any "U.S. person" or person that is not a "non-United States person" as
either such term may be defined in Regulation S or in regulations adopted under the CEA

1.
(i)
Issuer
BBVA Global Markets, B.V.(NIF: N0035575J)

(ii)
Guarantor:
Banco Bilbao Vizcaya Argentaria, S.A.(NIF: A48265169)

(iii)
Principal Paying Agent:
Banco Bilbao Vizcaya Argentaria, S.A.

(iv)
Registrar:
Not applicable

(v)
Transfer Agent:
Not applicable

(vi)
Calculation Agent:
Banco Bilbao Vizcaya Argentaria, S.A.
2.
(i)
Series Number:
183

(ii)
Tranche Number:
1

(iii)
Date on which the Notes will be
Not applicable
consolidated and form a single
Series:

(iv)
Applicable Annex(es):
Annex 1: Payout Conditions

Annex 3: Equity Linked Conditions
3.
Specified Notes Currency or Currencies:
Euro ("EUR")
4.
Aggregate Nominal Amount:

(i)
Series:
EUR 2,300,000
2

(Number of issued notes: 46).

(ii)
Tranche:
EUR 2,300,000
5.
Issue Price:
100 per cent. of the Aggregate Nominal Amount
6.
(i)
Specified Denomination(s):
EUR 50,000

(ii)
Calculation Amount:
EUR 50,000
7.
(i)
Issue Date:
28 December 2020

(ii)
Interest Commencement Date:
Issue Date

(iii)
Trade Date:
25 November 2020
8.
Maturity Date:
28 December 2023 or if that is not a Business Day the
immediately succeeding Business Day unless it would
thereby fall into the next calendar month, in which event
it will be brought forward to the immediately preceding
Business Day
9. Interest Basis:
Applicable

(see paragraph 16 below)

Reference Item Linked Interest: Equity Linked Interest
10.
Redemption Basis:
Equity Linked Redemption
11.
Reference Item(s):
See paragraph 22(i) Share below
12.
Put/Call Options:
Not applicable
13.
Settlement Exchange Rate Provisions:
Not applicable
14.
Knock-in Event:
Applicable: Knock-in Value is less than the Knock-in
Barrier

(i)
Knock-in Value:
RI Value

Where;

"RI Value" means, in respect of a Reference Item and a
Knock-in Determination Day, (i) the RI Closing Value for
such Reference Item in respect of such Knock-in
Determination Day, divided by (ii) the relevant RI Initial
Value

"RI Closing Value" means, in respect of a Reference
Item and a ST Valuation Date, the Settlement Price (as
defined in the Equity Linked Conditions) on such ST
Valuation Date

"RI Initial Value" means, in respect of a Reference Item,
Initial Closing Price
3

"Initial Closing Price" means the RI Closing Value of a
Reference Item on the Strike Date

"ST Valuation Date" means each of the Strike Date and
Knock-in Determination Day

(ii)
Knock-in Barrier:
75 per cent

(iii)
Knock-in Range:
Not applicable

(iv)
Knock-in Determination Day(s):
Redemption Valuation Date (see paragraph 36 (x) below)

(v)
Knock-in Determination Period:
Not applicable

(vi)
Knock-in Period Beginning Date:
Not applicable

(vii)
Knock-in Period Beginning Date
Not applicable
Scheduled Trading Day Convention:

(viii)
Knock-in Period Ending Date:
Not applicable

(ix)
Knock-in Period Ending Date
Not applicable
Scheduled Trading Day Convention:

(x)
Knock-in Valuation Time:
Scheduled Closing Time
15.
Knock-out Event:
Not applicable
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
16.
Interest:
Applicable

(i)
Interest Period End Date(s):
As per General Condition 4(b)

(ii)
Business Day Convention for
Not applicable
Interest Period End Date(s):

(iii)
Interest Payment Date(s):
See Paragraph 22(x) below

(iv)
Business Day Convention for
Modified Following Business Day Convention
Interest Payment Date(s):

(v)
Minimum Interest Rate:
Not applicable

(vi)
Maximum Interest Rate:
Not applicable

(vii)
Day Count Fraction:
1/1

(viii)
Determination Date(s):
Not applicable

(ix)
Rate of Interest:
In respect of each Interest Payment Date the Rate of Interest
shall be determined by the Calculation Agent in accordance
with the following formula:

Rate of Interest (xvi) Memory

(A) If Barrier Count Condition is satisfied in respect of a
4

Coupon Valuation Date:

Rate (i) + Sum Rate (i); or

(B) Otherwise:

Zero

Where:

"Barrier Count Condition" shall be satisfied if, in respect
of a Coupon Valuation Date, the Coupon Barrier Value on
such Coupon Valuation Date, as determined by the
Calculation Agent, is equal to or greater than the Coupon
Barrier

"Coupon Barrier" means 80 per cent.

"Coupon Barrier Value" means, in respect of a Coupon
Valuation Date, RI Value

"Rate" means, in respect of a Coupon Valuation Date, 3.4
per cent

"Sum Rate" means, in respect of each Coupon Valuation
Date, the sum of all previous Rates for each Coupon
Valuation Date since (but not including) the last occurring
date on which the relevant Barrier Count Condition was
satisfied (or if none the Issue Date)

"RI Value" means, in respect of a Reference Item and a
Coupon Valuation Date, (i) the RI Closing Value for such
Reference Item in respect of such Coupon Valuation Date,
divided by (ii) the relevant RI Initial Value

"RI Closing Value" means, in respect of a Reference Item
and a ST Valuation Date, the Settlement Price (as defined
in the Equity Linked Conditions) on such ST Valuation
Date

"RI Initial Value" means, in respect of a Reference Item,
Initial Closing Price

"Initial Closing Price" means the RI Closing Value of a
Reference Item on the Strike Date

"ST Valuation Date" means each of the Strike Date and
Coupon Valuation Date
17.
Fixed Rate Note Provisions:
Not applicable
18.
Floating Rate Note Provisions:
Not applicable
19.
Specified Interest Amount Note Provisions: Not applicable
20.
Zero Coupon Note Provisions:
Not applicable
5

21.
Index Linked Interest Provisions:
Not applicable
22.
Equity Linked Interest Provisions:
Applicable

(i)
Share:
Repsol SA

(ii)
Share Currency:
EUR

(iii)
ISIN of Share(s):
ES0173516115

(iv)
Screen Page:
Bloomberg Code: REP SQ EQUITY

(v)
Exchange:
Sociedad de Bolsa SIBE

(vi)
Related Exchange(s):
All Exchanges

(vii)
Depositary Receipt provisions:
Not applicable

(viii)
Strike Date:
21 December 2020

(ix)
Averaging:
Not applicable

(x)
Interest Payment Date(s):
See table below

i
Coupon Valuation Dates
Interest Payment Dates
1
22 March 2021
29 March 2021
2
21 June 2021
28 June 2021
3
21 September 2021
28 September 2021
4
21 December 2021
28 December 2021
5
21 March 2022
28 March 2022
6
21 June 2022
28 June 2022
7
21 September 2022
28 September 2022
8
20 December 2022
28 December 2022
9
21 March 2023
28 March 2023
10
21 June 2023
28 June 2023
11
21 September 2023
28 September 2023
12
19 December 2023
28 December 2023

(xi)
Coupon Valuation
See table above
Date(s)/Period(s):

(xii)
Coupon Valuation Time:
Scheduled Closing Time

(xiii)
Observation Date(s):
Not applicable
6

(xiv)
Exchange Business Day:
(Single Share Basis)
(xv)
Scheduled Trading Day:
(Single Share Basis)
(xvi)
Share Correction Period:
As set out in Equity Linked Condition 8
(xvii)
Specified Maximum Days of
Three Scheduled Trading Days
Disruption:
(xviii)
Extraordinary Events:
As per the Equity Linked Conditions
(xix)
Additional Disruption Events:
As per the Equity Linked Conditions
23.
ETF Linked Interest Provisions:
Not applicable
24.
Fund Linked Interest Provisions:
Not applicable
25.
Inflation Linked Interest Provisions:
Not applicable
26.
Foreign Exchange (FX) Rate Linked
Not applicable
Interest Provisions:
27.
Reference Item Rate Linked Interest:
Not applicable
28.
Combination Note Interest:
Not applicable
PROVISIONS RELATING TO REDEMPTION
29.
Final Redemption Amount:
Calculation Amount * Final Payout
30.
Final Payout:
Applicable
Redemption (vii)-Knock-in
(A) If no Knock-in Event has occurred:
100 per cent.; or
(B) If a Knock-in Event has occurred:
no Final Redemption Amount will be payable and
Physical Delivery will apply
31.
Automatic Early Redemption:
Applicable
ST Automatic Early Redemption
(i)
Automatic Early Redemption
In respect of any Automatic Early Redemption Valuation
Event:
Date, the AER Value is: greater than or equal to the
Automatic Early Redemption Trigger
(ii)
AER Value:
RI Value
"RI Value" means, in respect of a Reference Item and an
Automatic Early Redemption Valuation Date, (i) the RI
Closing Value for such Reference Item in respect of such
Automatic Early Redemption Valuation Date, divided by
(ii) the relevant RI Initial Value
7

"RI Closing Value" means, in respect of a Reference Item
and a ST Valuation Date, the Settlement Price (as defined
in the Equity Linked Conditions) on such a ST Valuation
Date

"RI Initial Value" means, in respect of a Reference Item,
Initial Closing Price

"Initial Closing Price" means the RI Closing Value of a
Reference Item on the Strike Date

"ST Valuation Date" means each of the Strike Date and
Automatic Early Redemption Valuation Date

(iii)
Automatic Early Redemption
The Automatic Early Redemption Amount shall be
Amount:
determined in accordance with the following formula:

Calculation Amount * AER Percentage

(iv)
Automatic Early Redemption
See table below
Trigger:
j
Automatic Early
Automatic Early
Automatic Early
AER Percentage
Redemption Valuation
Redemption Dates
Redemption Trigger(%)
Dates
1
22 March 2021
29 March 2021
100
100
2
21 June 2021
28 June 2021
100
100
3
21 September 2021
28 September 2021
100
100
4
21 December 2021
28 December 2021
100
100
5
21 March 2022
28 March 2022
100
100
6
21 June 2022
28 June 2022
100
100
7
21 September 2022
28 September 2022
100
100
8
20 December 2022
28 December 2022
100
100
9
21 March 2023
28 March 2023
100
100
10
21 June 2023
28 June 2023
100
100
11
21 September 2023
28 September 2023
100
100

(v)
Automatic Early Redemption
Not applicable
Range:

(vi)
AER Percentage:
See table above

(vii)
Automatic Early Redemption
See table above
Date(s):

(viii)
AER Additional Rate:
Not applicable
8

(ix)
Automatic Early Redemption
See table above
Valuation Date(s):

(x)
Automatic Early Redemption
Scheduled Closing Time
Valuation Time:

(xi)
Averaging:
Not applicable
32.
Issuer Call Option:
Not applicable
33.
Noteholder Put:
Not applicable
34.
Early Redemption Amount:
As set out in General Condition 6
35.
Index Linked Redemption:
Not applicable
36.
Equity Linked Redemption:
Applicable

(i)
Share
See paragraph 22(i) above

(ii)
Share Currency:
See paragraph 22(ii) above

(iii)
ISIN of Share(s):
See paragraph 22(iii) above

(iv)
Screen Page:
See paragraph 22(iv) above

(v)
Exchange:
See paragraph 22(v) above

(vi)
Related Exchange(s):
All Exchanges

(vii)
Depositary Receipt provisions:
Not applicable

(viii)
Strike Date:
See paragraph 22(viii) above

(ix)
Averaging:
Not applicable

(x)
Redemption Valuation Date(s):
19 December 2023

(xi)
Valuation Time:
Scheduled Closing Time

(xii)
Observation Date(s):
Not applicable

(xiii)
Exchange Business Day:
(Single Share Basis)

(xiv)
Scheduled Trading Day:
(Single Share Basis)

(xv)
Share Correction Period:
As set out in Equity Linked Condition 8

(xvi)
Specified Maximum Days of
Three Scheduled Trading Days
Disruption:

(xvii) Extraordinary Events:
As per the Equity Linked Conditions

(xviii) Additional Disruption Events:
As per the Equity Linked Conditions
37.
ETF Linked Redemption:
Not applicable
38.
Fund Linked Redemption:
Not applicable
39.
Inflation Linked Redemption:
Not applicable
9

40.
Credit Linked Interest/Redemption:
Not applicable
41.
Foreign Exchange (FX) Rate Linked
Not applicable
Redemption:
42.
Reference Item Rate Linked
Not applicable
Redemption:
43.
Combination Note Redemption:
Not applicable
44.
Provisions applicable to Instalment
Not applicable
Notes:
45.
Provisions applicable to Physical
Applicable
Delivery:

(i)
Entitlement Amount:
An amount per Calculation Amount equal to:

Calculation Amount / Performing RI Strike Price

The Entitlement Amount will be rounded down to the
nearest unit of each Relevant Asset capable of being
delivered (the "Equity Element") and in lieu thereof the
Issuer will pay a residual amount (the "Residual Amount")
equal to:

(Entitlement Amount Equity Element) * Physical
Delivery Price

Where,

"Performing RI Strike Price" means in respect of the
Redemption Valuation Date, the RI Initial Value in respect
of the Reference Item

"Physical Delivery Price" means, in respect of the
Redemption Valuation Date, the RI Closing Value in
respect of the Reference Item

"RI Closing Value" means, in respect of a Reference Item
and a ST Valuation Date, the Settlement Price (as defined
in the Equity Linked Conditions) on such a ST Valuation
Date

"Initial Closing Price" means the RI Closing Value of a
Reference Item on the Strike Date

"ST Valuation Date" means each of the Strike Date and
Redemption Valuation Date

"RI Initial Value" means, in respect of a Reference Item,
Initial Closing Price

(ii)
Relevant Asset(s):
The Reference Item

(iii)
Unwind Costs:
Not applicable
10