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UBS AG - Exchange Offer - Results

Announcement of expiration and final results of exchange offer of certain UBS AG senior unsecured notes - US902674YH70 (144A) and USH7220NAN06; US902674XN57 (144A) and USH7220NAG54


12 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via UBS


"Zurich, 13 October 2023 – UBS AG today announced the expiration and final results of the previously announced offers by UBS AG, acting through its London branch (the “Issuer”), to exchange any and all of each series of its outstanding notes listed under “Title of Original Notes” below (collectively, the “Original Notes”) for a like principal amount of the corresponding series of new notes listed under “Title of Exchange Notes” below (collectively, the “Exchange Notes”). We refer to each of these offers as an “Exchange Offer” and together as the “Exchange Offers.”


The Exchange Offers expired at one minute after 11:59 p.m., New York City time, on 12 October 2023 (such date, in respect of each Exchange Offer, the “Expiration Date”). The following table indicates, among other things, the aggregate principal amount of each series of Original Notes validly tendered (and not validly withdrawn) and accepted for exchange as of the Expiration Date:"

"As the aggregate principal amount of each series of Exchange Notes to be issued on the applicable Settlement Date in exchange for the corresponding series of Original Notes is greater than $500,000,000, the Minimum Size Condition (as defined in the Prospectus (as defined below)) with respect to each Exchange Offer has been satisfied. Issuance of the Exchange Notes and cancellation of the Original Notes validly tendered and accepted for exchange is expected to occur on 16 October 2023."


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Announcement of exchange offer of certain UBS AG senior unsecured notes - US902674YH70 (144A) and USH7220NAN06; US902674XN57 (144A) and USH7220NAG54


13 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via UBS


"UBS AG, acting through its London branch (the “Issuer”), is offering to exchange, on the terms and conditions described in the registration statement on Form F-4 (the “Registration Statement”) filed with the US Securities and Exchange Commission (“SEC”) on 24 August 2023:


(i) All of its outstanding 1.250 per cent. Notes due June 2026 (ISIN No. US902674YH70 (144A) and USH7220NAN06 (Reg S); CUSIP No. 902674YH7 (144A) and H7220NAN0 (Reg S)) (the “2026 Original Notes”) for a like principal amount of new 1.250% Notes due June 1, 2026 (the “2026 Exchange Notes”), and


(ii) All of its outstanding 4.500 per cent. Notes due 26 June 2048 (ISIN No. US902674XN57 (144A) and USH7220NAG54 (Reg S); CUSIP No.902674 XN5 (144A) and H7220N AG5 (Reg S)) (the “2048 Original Notes” and together with the 2026 Original Notes, the “Original Notes”) for a like principal amount of new 4.500% Notes due June 26, 2048 (the “2048 Exchange Notes” and together with the 2026 Exchange Notes, the “Exchange Notes”).


We refer to each of these offers as an “Exchange Offer” and together as the “Exchange Offers.”

UBS AG is conducting the Exchange Offers to give existing holders of Original Notes, which have not been registered with the SEC, the option to obtain SEC-registered securities issued by UBS AG, which will also rank pari passu with all other outstanding unsecured and unsubordinated obligations of UBS AG, present and future, except such obligations as are preferred by operation of law."


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****PREVIOUS OFFER BELOW****

 

Announcement of Tender Offer Results (Final Expiration Deadline)


05 APRIL 2023


Full announcement including disclaimers and offer restrictions available via SIX SIS


"ANNOUNCEMENT OF TENDER OFFER RESULTS (FINAL EXPIRATION DEADLINE):


EUR 76,590,000 in aggregate principal amount of 2028 Notes and EUR 143,340,000 in aggregate principal amount of 2032 Notes (such 2028 Notes and 2032 Notes, the Final Settlement Notes ) were validly tendered pursuant to the applicable Offer and accepted for purchase after the Early Expiration Deadline but on or prior to the Final Expiration Deadline. Payment of the Purchase Consideration and the Accrued Interest Payment in respect of the Final Settlement Notes will occur on 6 April 2023 (the Final Settlement Date ). Final Settlement Notes repurchased by the Issuer pursuant to the Offers will be cancelled. As previously announced on 29 March 2023, EUR 377,106,000 in aggregate principal amount of 2028 Notes and EUR 129,525,000 in aggregate principal amount of 2032 Notes (such 2028 Notes and 2032 Notes, the Early Settlement Notes ) were validly tendered pursuant to the applicable Offer and accepted for purchase on or before the Early Expiration Deadline. As previously announced on 3 April 2023, the Early Settlement Notes were purchased by the Issuer and cancelled on 31 March 2023. After giving effect to the purchase by the Issuer and cancellation of the Final Settlement Notes, EUR 1,046,304,000 in aggregate principal amount of 2028 Notes and EUR 977,135,000 in aggregate principal amount of 2032 Notes will remain outstanding."

 

Announcement of tender offer results by UBS Group AG of certain debt securities (


29 MARCH 2023


Full announcement including disclaimers and offer restrictions available via SIX SIS


"ANNOUNCEMENT OF TENDER OFFER RESULTS (EARLY EXPIRATION DEADLINE): EUR 377,106,000 in aggregate principal amount of 2028 Notes were validly tendered pursuant to the applicable Offer and accepted for purchase on or before the Early Expiration Deadline (such 2028 Notes, the Early Settlement 2028 Notes ). EUR 129,525,000 in aggregate principal amount of 2032 Notes were validly tendered pursuant to the applicable Offer and accepted for purchase on or before the Early Expiration Deadline (such 2032 Notes, the Early Settlement 2032 Notes and together with the Early Settlement 2028 Notes, the Early Settlement Notes ). Payment of the Purchase Consideration and the Accrued Interest Payment in respect of the Early Settlement Notes will occur on 31 March 2023 (i.e., the Early Settlement Date). Early Settlement Notes repurchased by the Issuer pursuant to the Offers will be cancelled."

 

Announcement of tender offer by UBS Group AG of certain debt securities (see table below)


22 MARCH 2023


Full announcement including disclaimers and offer restrictions available via SIX SIS



ANNOUNCEMENT OF THE TENDER OFFER:


Pursuant to and in accordance with Condition 13 (Notices) of the applicable Terms and Conditions, the Issuer hereby notifies the holders of Notes that it has announced today invitations to holders of Notes to tender their Notes for purchase for cash, subject to the terms and conditions described in the Tender Offer Memorandum dated 22 March 2023 (the Tender Offer Memorandum ) (each such invitation an Offer and together, the Offers ).


RATIONALE:


The Notes were recently issued on 17 March 2023 (the Issue Date ). Whilst the Issuer has been in compliance with all of its obligations relating to the Notes since the Issue Date, the Issuer is offering to purchase the Notes at their respective re-offer price in light of the exceptional corporate actions announced on 19 March 2023, shortly after the Issue Date. The Issuer has decided to launch this exercise as a result of a prudent assessment of these recent developments and the Issuer's long-term commitment to its credit investors.


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Swiss Security Number ISIN Common Code Description of Notes Aggregate Principal Amount Outstanding


125.591.500 CH1255915006 260025775 4.625 per cent. Fixed Rate/Fixed Rate Callable Senior Notes due March 2028 EUR 1,500,000,000


125.591.501 CH1255915014 260025856 4.750 per cent. Fixed Rate/Fixed Rate Callable Senior Notes due March 2032 EUR 1,250,000,000

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