31st Aug 2006 16:47
Merrill Lynch Intl (DTG) Syndicate31 August 2006 Company Merrill Lynch InternationalTIDMHeadline Stabilisation NoticeReleased 31st August 2006Number 31st August 2006 Not for distribution, directly or indirectly, in or into the United States orany jurisdiction in which such distribution would be unlawful. BBVA International Preferred S.A. Unipersonal Stabilisation Notice Merrill Lynch International (contact: Clive Self; telephone: 0207 995-3966)hereby gives notice that the Stabilising Manager(s) named below may stabilisethe offer of the following securities in accordance with Commission Regulation(EC) No. 2273/2003 implementing the Market Abuse Directive (2003/6/EC). The securities: Issuer: BBVA International Preferred S.A. Unipersonal Guarantor (if any): BBVA S.A. Aggregate nominal amount: EURO 500 million Description: 4.952% Perpetual Fixed/FRN Rate Tier 1 Notes (Callable, First Call 20th September 2016) Offer price: 100.00% ISIN: XS0266971745 Stabilisation:Stabilising Manager(s): Merrill Lynch International (London) (Stabilising Co-ordinator) Barclays Capital (London) BBVA (Spain) JP Morgan (London) Stabilisation period expected The date of this announcementto start on: Stabilisation period expected 20th October, 2006 (30 days after the proposed issue date of theto end no later than: securities) Maximum size of over-allotment 5% of the aggregate nominal amount stated above.facility: In connection with the offer of the above securities, the Stabilising Manager(s)may over-allot the securities or effect transactions with a view to supportingthe market price of the securities at a level higher than that which mightotherwise prevail. However, there is no assurance that the Stabilising Manager(s) will take any stabilisation action and any stabilisation action, if begun,may be ended at any time. This announcement is for information purposes only and does not constitute aninvitation or offer to underwrite, subscribe for or otherwise acquire or disposeof any securities of the Issuer in any jurisdiction. This announcement and the offer of the securities to which it relates are onlyaddressed to and directed at persons outside the United Kingdom and persons inthe United Kingdom who have professional experience in matters related toinvestments or who are high net worth persons within article 12(5) of theFinancial Services and Markets Act 2000 (Financial Promotion) Order 2005 andmust not be acted on or relied on by other persons in the United Kingdom. In addition, if and to the extent that this announcement is communicated in, orthe offer of the securities to which it relates is made in, any EEA Member Statethat has implemented Directive 2003/71/EC (together with any applicableimplementing measures in any Member State, the "Prospectus Directive") beforethe publication of a prospectus in relation to the securities which has beenapproved by the competent authority in that Member State in accordance with theProspectus Directive (or which has been approved by a competent authority inanother Member State and notified to the competent authority in that MemberState in accordance with the Prospectus Directive), this announcement and theoffer are only addressed to and directed at persons in that Member State who arequalified investors within the meaning of the Prospectus Directive (or who areother persons to whom the offer may lawfully be addressed) and must not be actedon or relied on by other persons in that Member State. This announcement is not an offer of securities for sale into the United States.The securities have not been, and will not be, registered under the UnitedStates Securities Act of 1933 and may not be offered or sold in the UnitedStates absent registration or an exemption from registration. There will be nopublic offer of securities in the United States. END London Stock Exchange plc is not responsible for and does not check content onthis Website. Website users are responsible for checking content. Any newsitem (including any prospectus) which is addressed solely to the persons andcountries specified therein should not be relied upon other than by such personsand/or outside the specified countries. Terms and conditions, includingrestrictions on use and distribution apply. (c)2005 London Stock Exchange plc. All rights reserved This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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