Dodd-Frank Disclosures

In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, prior to entering into a swap transaction , a Swap Dealer must provide several disclosures to a counterparty who is not a Swap Dealer, Major Swap Participant, Security Based Swap Dealer or Major Security Based Swap Participant. Under the requirements of Rule 23.431 of the Commodity Futures Trading Commission (“CFTC”) under the Business Conduct Standards for Swap Dealers and Major Swap Participants, 77 Fed. Reg. 9734, a Swap Dealer must  disclose the material risks of the particular swap, which may include market, credit, liquidity, foreign currency, legal, operational, and any other applicable risks. In addition, a Swap Dealer must disclose the material characteristics of the particular swap, including the Material Economic Terms (METs) of the swap, the terms relating to the operation of the swap and the rights and obligations of the parties during the terms of the swap.

This website will be updated regularly with various Risk Disclosures and static Material Economic Terms (METs) and is accessible to all clients.

General UBS AG Disclosures

Swap Dealers are required to provide a notice to each counterparty that contains the physical address, email or other widely available electronic address and telephone number of the department of the Swap Dealer to which any complaints may be directed.  Swap counterparties of UBS AG may direct complaints via email to SH-RIR-Compliance@ubs.com or via phone to (203) 719-5590.

ISDA Risk Disclosures

ISDA created standard industry documentation, such as general and product specific risk disclosures, to assist regulated swap entities in satisfying  their on-going regulatory requirements and to allow other entities to continue trading with regulated swap entities. The following disclosures are meant to capture  general risks of swap transactions related to the following asset classes: interest rates, foreign exchange rates and currencies, credit instruments, asset-backed instruments, equities and commodities. The latest published documents are attached below:

Material Economic Terms (METs) Disclosures
UBS AG

Disclosure statement regarding transaction terms

This Disclosure Statement describes the manner in which the terms of any Transaction that UBS AG (“we”) may enter into with you will be determined. The term “Transaction” has the meaning set forth in the General Disclosure Statement for Transactions that we have provided to you.

Before entering into any Transaction, you should conduct a thorough and independent evaluation of the terms of the Transaction in light of your particular circumstances and the nature and extent of your exposure to, and willingness to incur, risk.  You should also consider whether the Transaction is appropriate for you in light of your experience, objectives, financial and operational resources and other relevant circumstances.  Unless expressly agreed in writing, we are not providing you with legal, financial, tax, accounting or other advice in connection with any Transaction.

The terms of any Transaction that you and we enter into will be set forth in the confirmation or other agreement evidencing the Transaction, including any terms incorporated by reference therein.  Subject to the exceptions described below, any Transaction that you and we enter into will have the terms that you and we expressly agree upon (orally, via email or in any other manner) in connection with the Transaction and other terms determined as follows:

(1) Specified prior transaction, form confirmation or terms spreadsheet.  If we notify you that the Transaction will have the terms set forth in a specified prior transaction, form confirmation or terms spreadsheet, the Transaction will have such terms, subject to any express agreement between you and us in connection with the Transaction.

(2) Master confirmation agreement.  If (1) does not apply and you and we are party to a master confirmation agreement that governs the Transaction, the Transaction will have the terms set forth in the master confirmation agreement, subject to any express agreement between you and us in connection with the Transaction.

(3) Unspecified prior transaction.  If neither (1) nor (2) applies and you and we have previously entered into a transaction of the same type, the Transaction will have the terms set forth in the most recent transaction of the same type that you and we entered into, subject to any express agreement between you and us in connection with the Transaction.

(4) Unspecified form confirmation or terms spreadsheet.  If none of (1), (2) or (3) applies and the Transaction is of a type that is covered by a form confirmation and/or a terms spreadsheet that is available on this site, then the Transaction will have the terms set forth in the form confirmation and/or terms spreadsheet, as applicable, subject to any express agreement between you and us in connection with the Transaction.  In the event of any inconsistency between a form confirmation and a terms spreadsheet that relate to the same type of transaction, the terms set forth in the terms spreadsheet control.

The description above of the manner in which the terms of any Transaction that you and we enter into will be determined is subject to the following important exceptions.

(A) If you and we enter into a Transaction that is cleared through a clearinghouse or executed through a trading platform that prescribes the terms of the Transaction, the Transaction will have the terms specified by the applicable clearinghouse or trading platform and, subject to the rules of the clearinghouse or trading platform, any additional terms that you and we expressly agree upon in connection with the Transaction.

(B) If you and we enter into a Transaction for “give-up” to a third party, the terms of the Transaction will be subject to the terms of any agreement with that third party.

Important Notice

This web page contains links to forms of confirmations and spreadsheets of material economic terms relating to a variety of types of transactions (“Transactions”) that UBS AG (“we”) may enter into with counterparties from time to time.  Any confirmation or other documentation we directly provide to you in respect of an actual or potential Transaction will supersede the information on this website and, to the extent inconsistent, such confirmation or other documentation will control.  In addition, the agreed upon terms of any Transaction that we enter into with you will be set forth in the confirmation or other agreement that you and we enter into with respect to that Transaction and may differ materially from the terms set forth in the forms and spreadsheets available on or through this web page.  By making this web page available, we are not indicating that we are willing to enter into any Transaction with any counterparty on any terms.

The information compiled herein has been assembled by MarkitSERV LTD, which is the owner of such compilation of data, and has licensed it to UBS AG for distribution to you. Any redistribution by you of this data, whether or not for a fee, to third parties is strictly prohibited. The files herein are password protected, please contact your UBS AG representative for access.

The information below are UBS forms of confirmation specific to CMS Products (Cap/Floor/Swap), Zero Coupon Callable Accreters, Spread Options/CMS Steepener, Libor CDRAN/ Libor Range Accruals, Callable Inverse Floaters, Callable CMS Spread Options, Callable CMS Spread Range Accruals, CMS Spread Range Accruals, Government Asset Swap and Inflation Swap.

The information compiled herein has been assembled by MarkitSERV LTD, which is the owner of such compilation of data, and has licensed it to UBS AG for distribution to you. Any redistribution by you of this data, whether or not for a fee, to third parties is strictly prohibited. The files herein are password protected, please contact your UBS AG representative for access.

EMTA Template Terms for Non-Deliverable FX Forward Transactions, Non-Deliverable Currency Option Transactions and Non-Deliverable Cross Currency Transactions. 
http://www.emta.org/ndftt.aspx

The International Swaps and Derivatives Association, Inc. ("ISDA") holds copyright on certain ISDA Documents and such works may not be reproduced or distributed without ISDA's written permission, except the ISDA Master Agreements, ISDA Credit Support Documents and standardized general and product specific risk disclosures published by ISDA, which may be reproduced and distributed solely for use in documenting specific commercial transactions. In no event may any copyright or trademark notice be removed.

Use of ISDA documentation instruments appearing on this site or in ISDA's Library of Interactive ISDA Documentation and OL Plus service containing IDSA documentation ("ISDA Content") to document transactions should be undertaken only after securing appropriate legal advice on its provisions. ISDA makes no warranty, express or implied, concerning the respective instruments' suitability for use in any particular transaction and bears no responsibility or liability whatsoever, whether in tort or in contract, in respect of any use of these instruments.

ISDA, its officers, directors, employees, subcontractors, agents, successors or assigns (collectively "Covered Parties") shall not be liable to UBS or any of its counterparties (each referred to herein as a "Client") for any loss, injury, claim, liability or damage of any kind whatsoever resulting from, arising out of or in any way related to: (a) any errors in or omissions from the ISDA Content; (b) the Client's use of the ISDA Content; (c) the Client's use of any equipment or software in connection with the ISDA Content; or (d) any delay or failure in performance. The aggregate liability of ISDA, its officers, directors, employees, subcontractors, agents, successors or assigned (collectively, the "Covered Parties") to a Client in connection with any other claim arising out of or relating to the ISDA Content shall not exceed $500.00, which right shall be in lieu of all other remedies that the Client may have against ISDA. In no event shall the Covered Parties be liable for any special, indirect, incidental or consequential damages of any kind whatsoever (including, without limitation, attorneys' fees), lost profits or lost savings in any way due to, resulting from or arising in connection with the ISDA Content contained therein, regardless of any negligence of the Covered Parties. The files herein are password protected, please contact your UBS AG representative for access.

2006 Supplements to the ISDA Definitions