DGAP-Adhoc: UBS AG: UBS announces successful completion of

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News Desk 2018

Dec 17, 2015 at 1:15 AM

DGAP-Adhoc: UBS AG: UBS announces successful completion of public tender offer

UBS AG / Key word(s): Bond 17.12.2015 07:00 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 17 December 2015 News Release UBS announces successful completion of public tender offer UBS has accepted for repurchase certain of its senior and subordinated debt and covered bonds in an aggregate principal amount of approximately CHF 6.1 billion. Zurich/Basel, 17 December 2015 - UBS announces the successful completion of the cash tender offers, announced on 4 December 2015, to re-purchase 17 issues of its senior, subordinated debt and covered bonds with an aggregate principal amount equivalent to approximately CHF 16 billion. 14 securities with an aggregate principal amount equivalent to approximately CHF 6.1 billion were accepted. This transaction is consistent with our proactive approach to optimizing the Group's interest expense, while maintaining our strong liquidity, funding and capital position. We expect to record an expense in the fourth quarter of 2015 related to this transaction of approximately CHF 272 million, which will be recognized as negative other income within Corporate Center - Group Asset and Liability Management and will be treated as an adjusting item in determining the Group's adjusted operating profit/ (loss) before tax. We expect to recover the expense incurred in approximately 1.6 years primarily through reduction of future interest expense from the purchased bonds. The repurchase of the bonds is expected to have an immaterial effect on our CET1 ratio, however the transaction will reduce our BIS Basel III phase-in total capital by approximately CHF 658 million. Some of the subordinated bonds repurchased are currently eligible as Tier 2 under the BIS Basel III phase-in rules, but will not be eligible for Tier 2 capital treatment on a fully-applied basis beginning in 2019 and are not expected to be eligible as loss absorbing capacity under the anticipated revisions to the Swiss "too-big-to-fail" regulation. UBS AG Investor contact Switzerland: +41-44-234 41 00 Media contact Switzerland: +41-44-234 85 00 UK: +44-207-567 47 14 Americas: +1-212-882 58 57 APAC: +852-297-1 82 00 www.ubs.com Cautionary Statement Regarding Forward-Looking Statements This release contains statements that constitute "forward-looking statements". While these statements represent UBS's expectation concerning future developments, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS's expectations. In addition, these results could depend on other factors that we have previously indicated could affect our business and financial performance which are contained in our past and future filings and reports, including those filed with the SEC. More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including UBS's Annual Report on Form 20-F for the year ended 31 December 2014. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. 17.12.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: UBS AG Bahnhofstrasse 45 8001 ZÃ¼rich Switzerland Phone: +41 44 234 11 11 Fax: E-mail: info@ubs.com Internet: www.ubs.com ISIN: CH0024899483, CH0039913899 WKN: UB0BL6 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Open Market in Frankfurt ; SIX End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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