UBS AG Cash Tender Offers for Certain U.S. Dollar Securities: Announcement of Final Results

/EINPresswire.com/ -- ZURICH, SWITZERLAND -- (Marketwired) -- 12/16/15 -- 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

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
---------------------------------------- --------- -------------
Subordinated Dated Tier 2 Notes
5.875% Notes due July 15, 2016(2)        90261XBY7  US90261XBY76
7.375% Notes due June 15, 2017(3)        87083KAM4  US87083KAM45
7.500 % Notes due July 15, 2025(3)       870836AC7  US870836AC77
7.750 % Notes due September 1, 2026(3)   870845AC8  US870845AC84
Senior Unsecured Notes
5.875 % Notes due December 20, 2017(2)   90261XEM0  US90261XEM02
5.750 % Notes due April 25, 2018(2)      90261XFA5  US90261XFA54
4.875 % Notes due August 4, 2020(2)      90261XGD8  US90261XGD84
Covered Bonds
2.250 % Notes due March 30, 2017(4)      90349CAA2 US90349CAA27/
                                                    XS0765656276



                                         Principal Amount
                                        Outstanding as of
                                         the Commencement  Principal Amount
            Title of Security             of the Offers      Tendered(1)
--------------------------------------------------------- -----------------
Subordinated Dated Tier 2 Notes
5.875% Notes due July 15, 2016(2)          $930,600,000      $282,741,000
7.375% Notes due June 15, 2017(3)          $300,000,000      $79,601,000
7.500 % Notes due July 15, 2025(3)         $350,000,000      $86,213,000
7.750 % Notes due September 1, 2026(3)     $300,000,000      $80,008,000
Senior Unsecured Notes
5.875 % Notes due December 20, 2017(2)    $2,484,645,000    $1,284,479,000
5.750 % Notes due April 25, 2018(2)       $1,907,380,000     $905,480,000
4.875 % Notes due August 4, 2020(2)       $1,974,078,000     $875,250,000
Covered Bonds
2.250 % Notes due March 30, 2017(4)       $2,000,000,000    $1,566,940,000



                                           Principal Amount
                                            Tendered Using        Total
                                         Guaranteed Delivery  Consideration
            Title of Security                 Procedures       (per $1,000)
------------------------------------------------------------- -------------
Subordinated Dated Tier 2 Notes
5.875% Notes due July 15, 2016(2)            $10,650,000        $1,027.57
7.375% Notes due June 15, 2017(3)              $20,000          $1,080.39
7.500 % Notes due July 15, 2025(3)           $13,333,000        $1,268.79
7.750 % Notes due September 1, 2026(3)        $2,264,000        $1,315.61
Senior Unsecured Notes
5.875 % Notes due December 20, 2017(2)       $15,210,000        $1,083.34
5.750 % Notes due April 25, 2018(2)            $125,000         $1,089.92
4.875 % Notes due August 4, 2020(2)           $1,211,000        $1,109.81
Covered Bonds
2.250 % Notes due March 30, 2017(4)          $72,700,000        $1,017.18

(1) Excluding principal amounts tendered using guaranteed delivery procedures.
(2) Issued by UBS AG acting through its Stamford Branch.
(3) Originally issued by Swiss Bank Corporation (currently, UBS AG) acting through its New York Branch.
(4) Issued by UBS AG acting through its London Branch.

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:               Outside the United States:
      Toll Free: +1 888 719 4210        Tel: +1 203 719 8682 / +44 20 7568
       Collect: +1 203 719 4210                        4601
   Email: andrew.cardamone@ubs.com/       Email: mark-t.watkins@ubs.com/
         andrew-w.lee@ubs.com                torstein.berteig@ubs.com
Attention: Liability Management Group  Attention: Liability Management Group

                                TENDER AGENT
                        Lucid Issuer Services Limited
                               Tankerton Works
                               12 Argyle Walk
                               London WC1H 8HA
                               United Kingdom
                            Tel: +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.

Contacts:
RNS
Customer Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com

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