Investor releases

UBS AG cash tender offers for certain U.S. dollar securities: announcement of final results

Zurich Investor Releases

  

 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO,
OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL

 

16 December 2015 – UBS AG today announced the expiration as of 12:00 p.m., New York City time, on December 15, 2015, of its previously announced cash tender offers (the “Offers”). The Offers were made on the terms and subject to the conditions contained in a tender offer memorandum dated December 4, 2015 (the “Tender Offer Memorandum”) and the notice of guaranteed delivery (the “Notice of Guaranteed Delivery”).
 

Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum.
 

The table below sets forth, among other things, the aggregate principal amount of Securities of each Series validly tendered and accepted for purchase pursuant to the Offers.
 

 
Title of Security
 

 
CUSIP
 

 
ISIN
 

 
Principal Amount Outstanding as of the Commencement of the Offers
 

 
Principal Amount Tendered(1)
 

 
Principal Amount Tendered Using Guaranteed Delivery Procedures
 

 
Total Consideration (per $1,000)
 

Subordinated Dated Tier 2 Notes

5.875% Notes due July 15, 2016(2)

90261XBY7

US90261XBY76

$930,600,000

$282,741,000

$10,650,000
 

$1,027.57

7.375% Notes due June 15, 2017(3)

87083KAM4

US87083KAM45

$300,000,000

$79,601,000
 

$20,000

$1,080.39

7.500 % Notes due July 15, 2025(3)

870836AC7

US870836AC77

$350,000,000

$86,213,000

$13,333,000
 

$1,268.79
 

7.750 % Notes due September 1, 2026(3)

870845AC8

US870845AC84

$300,000,000

$80,008,000

$2,264,000

$1,315.61
 

Senior Unsecured Notes

5.875 % Notes due December 20, 2017(2)

90261XEM0

US90261XEM02

$2,484,645,000

$1,284,479,000

$15,210,000

$1,083.34
 

5.750 % Notes due April 25, 2018(2)

90261XFA5

US90261XFA54

$1,907,380,000

$905,480,000

$125,000
 

$1,089.92

4.875 % Notes due August 4, 2020(2)

90261XGD8

US90261XGD84

$1,974,078,000

$875,250,000

$1,211,000

$1,109.81
 

Covered Bonds

2.250 % Notes due March 30, 2017(4)

90349CAA2

US90349CAA27/
XS0765656276

$2,000,000,000

$1,566,940,000

$72,700,000
 

$1,017.18

Accrued Interest Payment

An amount equal to accrued and unpaid interest will also be paid in respect of all Securities validly tendered and accepted for purchase by the Offeror pursuant to the Offers from, and including, the immediately preceding interest payment date for the relevant Series of Securities to, but excluding, the Settlement Date.

If the Settlement Date occurs on or after a regular record date for the payment of interest on any Series of Securities and on or before the related interest payment date for such Series of Securities, Holders who tender Securities that they held on any such regular record date and which are accepted for purchase pursuant to the relevant Offer, will not receive any accrued and unpaid interest on such Securities on such interest payment date, but instead will receive the Accrued Interest on the Settlement Date.

Settlement

The Total Consideration and Accrued Interest for Securities validly tendered before the Expiration Deadline, and accepted for purchase, will be paid to Holders on the Settlement Date. The Settlement Date is expected to be December 18, 2015.

Concurrent Non-U.S. Tender Offers

On December 4, 2015 the Offeror also invited holders of: (1) certain pound sterling, euro and Italian lira denominated debt securities who are outside the United States to tender those securities for purchase by the Offeror (the “European Offer”); and (2) certain Swiss franc denominated debt securities who are outside the United States to tender those securities for purchase by the Offeror (the “Swiss Offer”). This announcement does not relate to the European Offer or the Swiss Offer.

Further information

Lucid Issuer Services Limited acted as tender agent (the “Tender Agent”) for the purposes of the Offers.

UBS Limited, an affiliate of the Offeror, acted as the Lead Dealer Manager (the “Lead Dealer Manager”) and Australia and New Zealand Banking Group Limited; BB&T Capital Markets, a division of BB&T Securities LLC; BMO Capital Markets Corp.; Daiwa Capital Markets Europe Limited; Danske Bank A/S; DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main; National Australia Bank Limited; RBS Securities Inc.; and Santander Investment Securities Inc. acted as co-dealer managers (each, a “Co-Dealer Manager” and, together with the Lead Dealer Manager, the “Dealer Managers”) in connection with the Offers.

Requests for information in relation to the Offers should be directed to:

LEAD DEALER MANAGER

UBS Limited
1 Finsbury Avenue
London EC2M 2PP
United Kingdom

In the United States:
Toll Free: +1 888 719 4210
Collect: +1 203 719 4210
Email: andrew.cardamone@ubs.com/andrew-w.lee@ubs.com
Attention: Liability Management Group


Outside the United States:
Phone: +1 203 719 8682 / +44 20 7568 4601
Email: mark-t.watkins@ubs.com/torstein.berteig@ubs.com
Attention: Liability Management Group


TENDER AGENT

Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Phone: +44 20 7704 0880
Email: ubs@lucid-is.com
Attention: Paul Kamminga/Thomas Choquet

Disclaimer

This announcement must be read in conjunction with the Tender Offer Memorandum. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement or the Tender Offer Memorandum comes are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about and to observe any such restrictions.