REG - Banco Bil.Viz.Argent - Buyback Execution

Banco Bilbao Vizcaya Argentaria SAAnnouncement

19/11/2021 16:55

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RNS Number : 0276T  Banco Bilbao Vizcaya Argentaria SA  19 November 2021

Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA" or the "Company"), in compliance
with the Spanish Securities Market legislation, hereby proceeds to notify the
following:

 

INSIDE INFORMATION

 

Further to the notice of Inside Information of 29 October 2021, with
registration number 1127 (the "Initial II")(( 1 )), BBVA hereby gives notice
of the execution of the First Tranche, which will be carried out within the
scope of the Program Scheme of up to 3,500 million euros(( 2 )), and in
accordance with Regulation (EU) No. 596/2014 of the European Parliament and of
the Council of 16 April 2014 on market abuse and Commission Delegated
Regulation (EU) No. 2016/1052, of 8 March 2016, (the "Regulations"), under the
terms and conditions detailed below:

 Purpose:                     To reduce BBVA's share capital by means of the redemption of the shares
                              acquired in executing the First Tranche.
 Maximum cash amount:         The maximum cash amount of the First Tranche will be 1,500 million euros.
 Maximum number of shares:    The maximum number of BBVA shares to be acquired in executing the First
                              Tranche will not exceed 637,770,016, representing, approximately, 9.6% of
                              BBVA's share capital as of the date of this notice.
 Start of the First Tranche:  The First Tranche will start on 22 November 2021.
 End of the First Tranche:    The First Tranche will end neither before 16 February 2022 nor later than 5
                              April 2022 and, in any event, when within such period the maximum cash amount
                              is reached or the maximum number of shares is acquired.

                              However, the Company reserves the right to temporarily suspend the First
                              Tranche or to early terminate it in the event of any circumstance that so
                              advises or requires.
 Trading venues:              The acquisitions under the First Tranche will be made on the Spanish
                              Electronic Trading Interconnection System - Continuous Market, as well as on
                              DXE Europe, Turquoise Europe and Aquis Exchange.
 Manager:                     The First Tranche will be executed externally through J.P. Morgan AG, who will
                              make its decisions concerning the timing of the purchases of the BBVA shares
                              independently of the Company.
 Other conditions:            The own shares will be purchased observing in all cases the conditions and the
                              limits established in the Regulations. In particular, shares purchased on any
                              trading day may not exceed 25% of the average daily volume of the shares on
                              the trading venue on which the purchase is made, and the average daily volume
                              of each trading venue will be that corresponding to the twenty trading days
                              prior to the date of each purchase.

The share purchases made, as well as the interruption or termination of the
First Tranche, will be duly reported to the Spanish National Securities Market
Commission and the appropriate authorities in accordance with the Regulations.

 

Madrid, 19 November 2021

 

(( 1 )) The terms First Tranche and Program Scheme will have the same meaning
as established in the Initial II.

 

(( 2 )) In accordance with the authorization granted by the European Central
Bank, the Program Scheme has a maximum amount of 3,500 million euros, and
shares may be repurchased up to 10% of BBVA's share capital, during a maximum
term of one year from the publication of the Initial II.

 

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