NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA. OTHER RESTRICTIONS APPLY AS SET OUT IN THE TENDER OFFER MEMORANDUM DATED 4 DECEMBER 2015
16 December 2015 – UBS AG ("UBS" or the "Company") announces today the results of its invitation to Holders of the CHF subordinated notes referred to below issued by UBS to tender any and all of the following notes for cash (the "Tender Offers").
The Tender Offers commenced on 4 December 2015 and expired at 6:00 p.m. (CET) on 15 December 2015.
Results
The total amount of UBS Notes the Company has accepted for purchase is CHF 149,920,000 in respect of the UBS CHF 2016 Notes (as defined below) and CHF 193,230,000 in respect of the UBS CHF 2017 Notes (as defined below).
CHF 550,000,000 3.125% subordinated notes due 28 June 2016 ("UBS CHF 2016 Notes") (ISIN CH0025852440)
Amount Outstanding at Commencement of Tender Offers: | CHF 434,005,000 |
Repurchase Price: | CHF 5,097.50 per CHF 5,000 / 101.950% |
Accrued Interest: | CHF 75.52 per CHF 5,000 / 1.510% |
Total Consideration: | CHF 5,173.02 per CHF 5,000 / 103.460% |
Amount of UBS CHF 2016 Notes Accepted for Purchase: | CHF 149,920,000 |
CHF 400,000,000 4.125% subordinated notes due 27 December 2017 ("UBS CHF 2017 Notes") (ISIN CH0035789210)
Amount Outstanding at Commencement of Tender Offers: | CHF 385,340,000 |
Repurchase Price: | CHF 5,450.00 per CHF 5,000 / 109.000% |
Accrued Interest: | CHF 203.39 per CHF 5,000 / 4.068% |
Total Consideration | CHF 5,653.39 per CHF 5,000 / 113.068% |
Amount of UBS CHF 2017 Notes Accepted for Purchase: | CHF 193,230,000 |
(all notes together, the "UBS Notes").
Accrued Interest for UBS Notes above is subject to withholding tax and assumes settlement date of 22 December 2015.
Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Tender Offer Memorandum.
Concurrent Non-CHF Tender Offers
On 4 December 2015, UBS also invited holders of certain U.S. dollar, pound sterling, euro and Italian lira denominated debt securities to tender those securities for purchase (the “Non-CHF Tender Offers”). This announcement relates to the Tender Offers solely but not to the Non-CHF Tender Offers.
Sole Dealer Manager contact information
UBS Limited
Mark T. Watkins / Torstein Berteig
Liability Management Group
Phone: +1 203 719 8682 / +44 20 7568 4601
E-mail: mark-t.watkins@ubs.com / torstein.berteig@ubs.com
Tender Agent contact information
Lucid Issuer Services Limited
Paul Kamminga / Thomas Choquet (both speak German and English)
Phone: + 44 20 7704 0880
E-mail: ubs@lucid-is.com
Offer Restrictions
This announcement does not constitute an invitation to participate in the Tender Offers in any jurisdiction in which, or to any person to or from which, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by each of the Offeror, the Sole Dealer Manager and the Tender Agent to inform themselves about, and to observe, any such restrictions.
No action has been or will be taken in any jurisdiction in relation to the Tender Offers that would permit a public offering of securities in any such jurisdiction.
This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum dated 4 December 2015 contain important information which must be read carefully before any decision is made with respect to the Offers. If any holder of Securities is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the Offers. None of the Offeror, the Dealer Managers, the Tender Agent and any person who controls, or is a director, officer, employee or agent of such persons, or any affiliate of such persons, makes any recommendation as to whether holders of Securities should participate in the Offers.
