UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
Date: October 13, 2023
Commission File Number 1-15060
UBS AG
(Registrant’s Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
Aeschenvorstadt 1, 4051 Basel, Switzerland
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-263376) OF UBS AG AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.
This Form 6-K consists of the media release which appears immediately following this page.
 | Media Relations Tel. +41-44-234 85 00 |
13 October 2023
Announcement of expiration and final results of exchange offer of certain UBS AG senior unsecured notes
Zurich, 13 October 2023 – UBS AG today announced the expiration and final results of the previously announced offers by UBS AG, acting through its London branch (the “Issuer”), to exchange any and all of each series of its outstanding notes listed under “Title of Original Notes” below (collectively, the “Original Notes”) for a like principal amount of the corresponding series of new notes listed under “Title of Exchange Notes” below (collectively, the “Exchange Notes”). We refer to each of these offers as an “Exchange Offer” and together as the “Exchange Offers.”
The Exchange Offers expired at one minute after 11:59 p.m., New York City time, on 12 October 2023 (such date, in respect of each Exchange Offer, the “Expiration Date”). The following table indicates, among other things, the aggregate principal amount of each series of Original Notes validly tendered (and not validly withdrawn) and accepted for exchange as of the Expiration Date:
| Original Notes Tendered and Accepted | ||||||||||||||||||
| Title of Original Notes | ISIN /CUSIP No. of Original Notes | Aggregate Principal Amount Outstanding | Aggregate Principal Amount | Percentage | Title of Exchange Notes | ISIN /CUSIP No. of Exchange Notes | ||||||||||||
| 1.250 per cent. Notes due June 2026 | ISIN: US902674YH70 (144A) and USH7220NAN06 (Reg S) / CUSIP: 902674 YH7 (144A) and H7220N AN0 (Reg S) | $ | 1,000,000,000 | $ | 970,755,000 | 97.08 | % | 1.250% Notes due June 1, 2026 | ISIN: US902674ZZ69 / CUSIP: 902674 ZZ6 | |||||||||
| 4.500 per cent. Notes due 26 June 2048 | ISIN: US902674XN57 (144A) and USH7220NAG54 (Reg S) / CUSIP: 902674 XN5 (144A) and H7220N AG5 (Reg S) | $ | 1,000,000,000 | $ | 999,328,000 | 99.93 | % | 4.500% Notes due June 26, 2048 | ISIN: US902674A263 / CUSIP: 902674 A26 | |||||||||
| UBS AG, News Release, 13 October 2023 | Page 1 of 3 |
| Media Relations Tel. +41-44-234 85 00 |
As the aggregate principal amount of each series of Exchange Notes to be issued on the applicable Settlement Date in exchange for the corresponding series of Original Notes is greater than USD 500,000,000, the Minimum Size Condition (as defined in the Prospectus) with respect to each Exchange Offer has been satisfied.
Issuance of the Exchange Notes and cancellation of the Original Notes validly tendered and accepted for exchange is expected to occur on 16 October 2023.
As previously disclosed, UBS AG conducted the Exchange Offers to give existing holders of Original Notes, which have not been registered with the US Securities and Exchange Commission (the “SEC”), the option to obtain SEC-registered securities issued by UBS AG, which will also rank pari passu with all other outstanding unsecured and unsubordinated obligations of UBS AG, present and future, except such obligations as are preferred by operation of law.
A registration statement on Form F-4 (the “Registration Statement”) was filed with the SEC on 24 August 2023 and declared effective by the SEC on 13 September 2023. The Exchange Offers were made pursuant to the terms and conditions set forth in UBS AG’s prospectus related to the Exchange Offers, dated 13 September 2023 (the “Prospectus”), which forms part of the Registration Statement, and the related Letter of Instruction (the “Letter of Instruction”). Copies of the Prospectus, the Letter of Instruction and other documents filed with the SEC by UBS AG are available to holders of Original Notes free of charge through the website maintained by the SEC at www.sec.gov. Copies of the Prospectus and the Letter of Instruction are available to holders of Original Notes free of charge through the exchange and information agent, Kroll Issuer Services Limited, by calling +44 20 7704 0880 or by emailing ubs@is.kroll.com.
| UBS AG, News Release, 13 October 2023 | Page 2 of 3 |
| Media Relations Tel. +41-44-234 85 00 |
The above is provided for information purposes only. The Exchange Offers were made solely pursuant to the terms and conditions described in the Prospectus and related annexes and Letter of Instruction. This media release shall not constitute an offer to sell or the solicitation of an offer to buy any securities that are part of the Exchange Offers nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. No investment decision relating to securities should be made on the basis of this document. The Exchange Notes will not be listed on any securities exchange.
This media release is intended solely for information purposes and does not constitute or form part of, and may not be construed as, an offer or invitation to sell securities, the solicitation of an offer to underwrite, subscribe for or otherwise acquire securities or a recommendation regarding any securities. The publication of this media release as well as the offer and sale of securities may be subject to restrictions in certain jurisdictions. Persons who might come into possession of this media release must inform themselves about and comply with any applicable legal or regulatory restrictions.
This media release may contain statements that constitute “forward-looking statements,” within the meaning of applicable securities laws. While these forward-looking statements represent UBS AG’s judgments and future expectations concerning the development of UBS AG, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS AG’s expectations. For a discussion of the risks and uncertainties that may affect UBS AG please refer to the "Risk Factors" and other sections of UBS AG’s most recent Annual Report on Form 20-F, quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K. UBS AG 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.
UBS AG
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/media
| UBS AG, News Release, 13 October 2023 | Page 3 of 3 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| UBS AG | |||
| By: | /s/ Ella Campi | ||
Name: Ella Campi Title: Executive Director | |||
| By: | /s/ David Kelly | ||
Name: David Kelly Title: Managing Director | |||
Dated: October 13, 2023