Remuneration of structured deposits

Characteristics of deposit

Name of deposit	Depósito Dual Rentabilidade Europa BBVA
Institution	BANCO BILBAO VIZCAYA ARGENTARIA, S.A., SUCURSAL EM PORTUGAL
Start date	31-10-2014
Maturity date	31-10-2017
Term	3 years
Underlying market	Shares
Currency	EUR
Document	Rentabilidade Europa BBVA.pdf

Remuneration of deposit

Rate of return on maturity date
Rate of return	See components

Component 1
Type:	Fix
Start date:	31-10-2014
Maturity date :	30-01-2015
Underlying market:	Fixed interest rate
Rate of return :	4,000%

Component 2
Type:	Indexed
Start date:	31-10-2014
Maturity date :	31-10-2017
Underlying market:	Shares
Rate of return :	1,312%