• BBVA will issue EUR 1 billion of contingent convertible preference shares, excluding shareholders’ preemptive subscription rights.
• The securities may convert into newly issued ordinary shares and are not being offered to retail investors.
• They will carry a discretionary annual payment of 6.5% from Nov. 18, 2026, through May 17, 2034.
• From May 18, 2034, the rate will reset at 333.4 basis points above the five-year mid-swap rate.
• Closing is scheduled for Nov. 18, 2026.
• The securities are expected to qualify as Additional Tier 1 capital.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BBVA - Banco Bilbao Vizcaya Argentaria SA published the original content used to generate this news brief on November 11, 2026, and is solely responsible for the information contained therein.