Bond BBVA Banco 1.875% ( ES0205067475 ) in EUR

BBVA Banco

100 % ⇌

Spain

ES0205067475 ( in EUR )

1.875% per year ( payment 1 time a year)

27/10/2025

Prospectus brochure of the bond BBVA ES0205067475 en EUR 1.875%, maturity 27/10/2025

25 000 EUR

3 575 000 EUR

27/10/2025 ( In 2 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 ES0205067475, pays a coupon of 1.875% per year.
The coupons are paid 1 time per year and the Bond maturity is 27/10/2025

FINAL TERMS
26 October 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 182 EUR 3,575,000 Equity Linked Instalment Notes due 2025 (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2017/1129 (as amended or superseded).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 supplement to it dated 6 August 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:
182
(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 3,575,000
2

(Number of issued notes: 143).

(ii)
Tranche:
EUR 3,575,000
5.
Issue Price:
100 per cent. of the Aggregate Nominal Amount
6.
(i)
Specified Denomination(s):
EUR 25,000

(ii)
Minimum Subscription Amount:
Not applicable

(iii)
Calculation Amount:
EUR 25,000 (the "Original Calculation Amount")
minus, for the purposes of any calculation by reference to
the Calculation Amount on any day, the sum of the
Instalment Amounts paid prior to the relevant day
7.
(i)
Issue Date:
26 October 2020

(ii)
Interest Commencement Date:
Not Applicable

(iii)
Trade Date:
23 September 2020
8.
Maturity Date:
27 October 2025 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
Specified Interest Amount (see paragraph 19 below)
10.
Redemption Basis:
Equity Linked Redemption
Instalment (see paragraph 44 below)
11.
Reference Item(s):
See paragraph 36(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
3

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
Knock-in Determination Day

(ii)
Knock-in Barrier:
50 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
17.
Fixed Rate Note Provisions:
Not applicable
18.
Floating Rate Note Provisions:
Not applicable
19.
Specified Interest Amount Note Provisions: Not applicable
(i)
Specified Interest Amount(s):
In respect of the Specified Interest Payment Date
falling on 26 October 2021, EUR 468,75 per
Calculation Amount
In respect of each Specified Interest Payment Date
from and including 26 October 2022 to and including
27 October 2025, EUR 75 per Calculation Amount
(ii)
Specified Interest Payment Date(s):
26 October 2021, 26 October 2022, 26 October 2023, 28
October 2024 and 27 October 2025, as adjusted in
accordance with the Business Day Convention
(iii)
Specified Interest Amount Multiplier:
Not applicable
4

(iv)
Business Day Convention
Modified Following Business Day Convention
20.
Zero Coupon Note Provisions:
Not applicable
21.
Index Linked Interest Provisions:
Not applicable
22.
Equity Linked Interest Provisions:
Not applicable
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 (xi)-Barrier and Knock-in

(A) If the Final Redemption Condition is satisfied in respect
of the Redemption Valuation Date:

102.25 per cent.; or

(B) If the Final Redemption Condition is not satisfied in
respect of the Redemption Valuation Date and no Knock-in
Event has occurred:

100 per cent.; or

(C) If the Final Redemption Condition is not satisfied in
respect of the Redemption Valuation Date and a Knock-in
Event has occurred:

FR Value
Where:

"Final Redemption Condition" means, in respect of the
Redemption Valuation Date, that the Final Redemption
Value on such Redemption Valuation Date, as determined
by the Calculation Agent is equal to or greater than the
Final Redemption Condition Level

"Final Redemption Value" means in respect of the
Redemption Valuation Date, RI Value.

"Final Redemption Condition Level" means 100 per cent
5

"RI Value" means, in respect of a Reference Item and the
Redemption Valuation Date, (i) the RI Closing Value for
such Reference Item in respect of such Redemption
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
Redemption Valuation Date
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

"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:
6

j
Automatic Early
Automatic Early
Automatic Early
AER Percentage
Redemption Valuation Redemption Dates
Redemption Trigger(%)
Dates
1
19 October 2021
26 October 2021
100
100.675
2
19 October 2022
26 October 2022
100
102.25
3
19 October 2023
26 October 2023
100
102.25
4
21 October 2024
28 October 2024
100
102.25

(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

(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
Telefonica SA

(ii)
Share Currency:
EUR

(iii)
ISIN of Share(s):
ES0178430E18

(iv)
Screen Page:
TEF SQ <Equity>

(v)
Exchange:
Sociedad de Bolsa SIBE

(vi)
Related Exchange(s):
All Exchanges

(vii)
Depositary Receipt provisions:
Not applicable

(viii) Strike Date:
19 October 2020

(ix)
Averaging:
Not applicable

(x)
Redemption Valuation Date(s):
20 October 2025
7

(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
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:

(i)
Instalment Amounts:
Provided that an Automatic Early Redemption Event has
not occurred on the Automatic Early Redemption Valuation
Date falling on 26 October 2021:
Instalment Amount 1: EUR 17,500 per Calculation
Amount
Provided that an Automatic Early Redemption Event has
not occurred on any Automatic Early Redemption
Valuation Date falling on 26 October 2022, 26 October
2023 or 28 October 2024:
Instalment Amount 2: an amount per Calculation Amount
equal to the Final Redemption Amount

(ii)
Instalment Dates:
Instalment Date 1: 26 October 2021
Instalment Date 2: Maturity Date
45.
Provisions applicable to Physical
Not applicable
Delivery:
46.
Provisions applicable to Partly Paid
Not applicable
Notes:
47.
Variation of Settlement:
The Issuer does not have the option to vary settlement in
respect of the Notes as set out in General Condition 5(b)(ii)
8

48.
Payment Disruption Event:
Not applicable
GENERAL PROVISIONS APPLICABLE TO THE NOTES
49.
Form of Notes:
Book-Entry Notes: Uncertificated, dematerialised book
entry form notes (anotaciones en cuenta) registered with
Iberclear as managing entity of the Central Registry
50.
New Global Note:
No
51.
(i) Financial Centre(s):
Not applicable
(ii) Additional Business Centre(s):
Not applicable
52.
Talons for future Coupons or Receipts to No
be attached to definitive Notes (and dates
on which such Talons mature):
53.
Redenomination, renominalisation and
Not applicable
reconventioning provisions:
54.
Prohibition of Sales to EEA Retail
Not applicable
Investors:
55.
Sales outside EEA only:
Not applicable
RESPONSIBILITY
The Issuer and the Guarantor accept responsibility for the information contained in these Final Terms and declare
that the information contained in these Final Terms is, to the best of their knowledge, in accordance with the facts
and contains no omission likely to affect its import.
Signed on behalf of the Issuer:
Signed on behalf of the Guarantor:
By:________________________
By:________________________
Duly authorised
Duly authorised
9

PART B-OTHER INFORMATION
1 Listing and Admission to trading
Application has been made for the Notes to be admitted to trading on AIAF
2 Ratings
Ratings:
The Notes have not been rated.
3 Interests of Natural and Legal Persons Involved in the Issue
(i)
Save for any fee paid to the Dealer (if applicable, such fee shall be as set out in
the paragraph below) and/or any fee or other inducement paid to the distributor (if
any), so far as the Issuer is aware no person involved in the offer of the Notes has
an interest material to the offer. For specific and detailed information on the
nature and quantity of the fee or inducement paid to the distributor (if any) the
investor should contact the distributor.
(ii)
Dealer commission: Not applicable
4 Estimated Net Proceeds and Total Expenses
(i)
Reasons for the Offer:
See "Use of Proceeds" wording in the Base
Prospectus
(ii)
Estimated net proceeds:
EUR 3,575,000
(iii)
Estimated total expenses: The estimated total expenses that can be determined
as of the issue date are up to EUR 3,000 consisting of
listing fees, such expenses exclude certain out-of
pocket expenses incurred or to be incurred by or on
behalf of the issuer in connection with the admission
to trading
5 Performance of Shares, Explanation of Effect on Value of Investment and Other Information concerning
the Underlying
The past and future performance, the volatility and background information about each Share can be obtained from
the corresponding Bloomberg Screen Page as set out in paragraph 36(iv) above.
For a description of any adjustments and disruption events that may affect a Reference Item and any adjustment
rules in relation to events concerning a Reference Item (if applicable) please see Annex 3 (Additional Terms and
Conditions for Equity Linked Notes) in the Issuer's Base Prospectus.
The Issuer does not intend to provide post-issuance information.
6 Operational Information
(i)
ISIN Code:
ES0205067475
(ii)
Common Code:
Not applicable
10