Obligation BBVA Banco 5.7% ( XS1587857498 ) en USD

BBVA Banco

100 % ⇌

Espagne

XS1587857498 ( en USD )

5.7% par an ( paiement semestriel )

31/03/2032

Prospectus brochure de l'obligation BBVA XS1587857498 en USD 5.7%, échéance 31/03/2032

200 000 USD

120 000 000 USD

30/09/2025 ( Dans 144 jours )

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 USD, avec le code ISIN XS1587857498, paye un coupon de 5.7% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 31/03/2032

FINAL TERMS
24 March 2017

Banco Bilbao Vizcaya Argentaria, S.A.
Issue of USD 120,000,000 5.700 per cent. Tier 2 Subordinated Notes due March 2032
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 25 November 2016 and the supplements to
it dated 16 December 2016, 23 December 2016, 1 February 2017, 14 February 2017 and 24 February
2017 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:
148
(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:
United States Dollars ("USD")
4.
Aggregate Nominal Amount:

(a)
Series:
USD 120,000,000
(b)
Tranche:
USD 120,000,000
5.
Issue Price:
100 per cent. of the Aggregate Nominal
Amount
6.
(a)
Specified Denominations:
USD 200,000 and integral multiples of
USD 200,000 thereafter
(b)
Calculation Amount (in relation to USD 200,000
calculation of interest in global form see
Conditions):
7.
(a)
Issue Date:
31 March 2017
(b)
Interest Commencement Date:
Issue Date

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31 March 2032, subject to adjustment,
8.
Maturity Date:
for the purposes of making payment only
and not for interest accrual purposes, in
accordance with the Business Day
Convention specified below
9.
Interest Basis:
5.700 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 per
cent. of their nominal amount
11.
Change of Interest Basis:
Not Applicable
12.
Put/Call Options:
See paragraph 18 below
13.
(a)
Status of the Notes:
Subordinated
(b)
Status of Subordinated Notes:
Tier 2 Subordinated
(c)
Date approval for issuance of Notes Not Applicable
obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
14.
Fixed Rate Note Provisions
Applicable
(a)
Rate of Interest:
5.700 per cent. per annum payable semi-
annually in arrear on each Interest
Payment Date
(b)
Interest Payment Date(s):
31 March and 30 September in each year
beginning with the first Interest Payment
Date on 30 September 2017 and ending on
the final Interest Payment Date on the
Maturity Date, subject to adjustment for
the purposes of making payment only and
not for interest accrual purposes, in
accordance with the Following Business
Day Convention
(c)
Fixed Coupon Amount(s) for Notes in USD 5,700 per Calculation Amount
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

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(f)
Determination Date(s):
31 March and 30 September in each year
15.
Fixed Reset Provisions:
Not Applicable
16.
Floating Rate Note Provisions
Not Applicable
17.
Zero Coupon Note Provisions
Not Applicable
PROVISIONS RELATING TO REDEMPTION

18.
Issuer Call
Applicable

(a)
Optional Redemption Date(s):
Subject to the Applicable Banking
Regulations then in force and subject to
the prior consent of the Regulators, the
Notes may be redeemed at the option of
the Issuer on any Interest Payment Date
falling on or after the Interest Payment
Date falling in March 2027. Condition
6(c) applies.
(b)
Optional Redemption Amount:
USD 200,000 per Calculation Amount
(c)
If redeemable in part:
(i)
Minimum
Redemption
Not Applicable
Amount:
(ii)
Maximum
Redemption
Not Applicable
Amount:
(d)
Notice periods:
Minimum period: 30 days

Maximum period: 60 days
19.
Investor Put
Not Applicable
20.
Final Redemption Amount:
USD 200,000 per Calculation Amount
21.
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
22.
Form of Notes:
Bearer Notes:

Temporary Bearer Global Note
exchangeable for a Permanent Bearer
Global Note which is exchangeable for

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Definitive Notes only upon an Exchange
Event excluding the exchange event
described in paragraph (iii) of the
definition in the Permanent Global Note
23.
New Global Note (NGN):
Applicable
24.
Additional Financial Centre(s):
London and TARGET2
25.
Talons for future Coupons to be attached to No
Definitive Bearer Notes:
26.
Condition 16 applies:
Yes
27.
Eligible Liabilities Event (Senior Subordinated Not Applicable (for so long as the Notes
Notes):
qualify as Tier 2 Instruments)
28.
RMB Currency Event:
Not Applicable
29.
Spot Rate (if different from that set out in Not Applicable
Condition 5(h)):
30.
Party responsible for calculating the Spot Rate:
Not Applicable
31.
Relevant Currency (if different from that in Not Applicable
Condition 5(h)):
32.
RMB Settlement Centre(s)

Not Applicable

Signed on behalf of the Issuer:

By:
............................................................................
Duly authorised

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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 31 March 2017.
(b)
Estimate of total expenses GBP 4,020
related to admission to trading:
2.
RATINGS

The Notes to be issued are expected to be rated:
Standard & Poor's Credit Market Services
Europe Limited: BBB-
Moody's Investors Services España, S.A.: Baa3
Fitch Ratings España, S.A.U.: BBB+

3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
So far as the Issuer is aware, no person involved in the issue of the Notes has an interest
material to the offer. The Manager 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 only)

Indication of yield:
5.700 per cent. per annum

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:
XS1587857498
(b)
Common Code:
158785749
(c)
CUSIP:
Not Applicable
(d)
Any clearing system(s) other Not Applicable
than Euroclear Bank S.A./N.V.,
Clearstream Banking, S.A. and
the Depository Trust Company

- 5-

and the relevant identification
number(s):
(e)
Delivery:
Delivery against payment
(f)
Names and addresses of Not Applicable
additional Paying Agent(s) (if
any):

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Document Outline

#1">FINAL TERMS