BBVA · Banco Bilbao Vizcaya Argentaria, S.A.

Banco Bilbao Vizcaya Argentaria, S.A. completed a $1.25 billion debt offering of senior non-preferred fixed rate notes, providing long-term funding at a 4.968% coupon maturing in 2031. The pricing agreement dated April 30, 2026, incorporates an underwriting agreement with representatives including Barclays Capital Inc., BBVA Securities Inc., and others committing to purchase specific principal amounts totaling $1.25 billion, with BBVA on a best efforts basis to procure purchasers. The notes issue under a Fourth Supplemental Indenture dated May 8, 2026, to the Senior Non-Preferred Debt Securities Indenture dated July 31, 2025, with The Bank of New York Mellon as trustee, paying agent, and transfer agent. Key terms include a price to public of 100.000% (par plus accrued interest), underwriter purchase at 99.720%, minimum denomination of $200,000, and delivery on May 8, 2026, in New York. The notes are listed on the New York Stock Exchange and subject to Spanish bail-in power, with exclusive Madrid court jurisdiction for bail-in disputes. Legal opinions from Davis Polk & Wardwell LLP (U.S.) and J&A Garrigues (Spanish counsel) confirm validity under respective laws. Selling restrictions emphasize institutional targeting, barring retail in key jurisdictions, aligning with regulatory compliance for this complex instrument.