UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: October 22, 2019
UBS Group AG
Commission File Number: 1-36764
UBS AG
Commission File Number: 1-15060
(Registrants' Names)
Bahnhofstrasse 45, Zurich, Switzerland, and
Aeschenvorstadt 1, Basel, Switzerland
(Address of principal executive offices)
Indicate by check mark whether the registrants file or will file annual reports under cover of Form 20‑F or Form 40-F.
Form 20-F x Form 40-F o
This Form 6-K consists of the 3Q19 UBS Group AG (consolidated) capital instruments and TLAC-eligible senior unsecured debt information, published today by the registrants, which appears immediately following this page.
UBS Group AG consolidated capital instruments and TLAC-eligible senior unsecured debt
Third quarter 2019
This document provides information about the treatment of capital instruments and other instruments contributing to the total loss-absorbing capacity (TLAC) of UBS Group AG consolidated under the Swiss SRB framework as of 30 September 2019.
Information on the Swiss SRB capital framework and on Swiss SRB going and gone concern requirements that are being phased in until the end of 2019 is provided in the “Capital management” section of our Annual Report 2018, available under “Annual reporting” at www.ubs.com/investors.
1
Capital instruments and TLAC-eligible senior unsecured debt as of 30 September 20191 | ||||||||||
millions, except where indicated |
|
|
| Swiss SRB, incl. transitional arrangements | Swiss SRB as of 1.1.20 |
|
| |||
|
|
|
|
| Going concern | Gone concern2 | Going concern | Gone concern2 |
|
|
No. | Issuer | ISIN | Issue date | Outstanding amount as of 30.9.19 | Amount recognized in regulatory capital as of 30.9.19 | Amount eligible for the gone concern requirement as of 30.9.19 | Amount recognized in regulatory capital as of 30.9.19 | Amount eligible for the gone concern requirement as of 30.9.19 | Maturity date | Optional call date |
Additional tier 1 capital |
|
|
|
|
|
|
|
|
| |
1 | UBS Group Funding (Switzerland) AG3 | CH0271428317 | 19.02.15 | USD 1,250 | 1,248 |
| 1,248 |
| Perpetual | 19.02.20 |
2 | UBS Group AG, Switzerland, or employing subsidiaries4 |
| 31.12.14 | USD 410 | 410 |
| 410 |
| Perpetual | 01.03.20 |
3 | UBS Group AG, Switzerland, or employing subsidiaries4 |
| 31.12.15 | USD 451 | 451 |
| 451 |
| Perpetual | 01.03.21 |
4 | UBS Group Funding (Switzerland) AG3 | CH0317921697 | 21.03.16 | USD 1,500 | 1,492 |
| 1,492 |
| Perpetual | 22.03.21 |
5 | UBS Group Funding (Switzerland) AG3 | CH0331455318 | 10.08.16 | USD 1,100 | 1,088 |
| 1,088 |
| Perpetual | 10.08.21 |
6 | UBS Group AG, Switzerland, or employing subsidiaries4 |
| 31.12.16 | USD 359 | 359 |
| 359 |
| Perpetual | 01.03.22 |
7 | UBS Group Funding (Switzerland) AG3 | CH0400441280 | 31.01.18 | USD 2,000 | 2,055 |
| 2,055 |
| Perpetual | 31.01.23 |
8 | UBS Group AG, Switzerland, or employing subsidiaries4 |
| 31.12.17 | USD 357 | 357 |
| 357 |
| Perpetual | 01.03.23 |
9 | UBS Group Funding (Switzerland) AG3 | CH0447353704 | 28.11.18 | SGD 700 | 519 |
| 519 |
| Perpetual | 28.11.23 |
10 | UBS Group Funding (Switzerland) AG3 | 144A: US90352JAF03 RegS: USH4209UAT37 | 31.01.19 | USD 2,500 | 2,609 |
| 2,609 |
| Perpetual | 31.01.24 |
11 | UBS Group AG, Switzerland, or employing subsidiaries4 |
| 31.12.18 | USD 391 | 391 |
| 391 |
| Perpetual | 01.03.24 |
12 | UBS Group AG | CH0488506673 | 27.08.19 | AUD 700 | 467 |
| 467 |
| Perpetual | 27.08.24 |
13 | UBS Group AG | CH0495570928 | 04.09.19 | SGD 750 | 538 |
| 538 |
| Perpetual | 04.09.24 |
14 | UBS Group Funding (Switzerland) AG3 | CH0286864027 | 07.08.15 | USD 1,575 | 1,642 |
| 1,642 |
| Perpetual | 07.08.25 |
Total high-trigger loss-absorbing additional tier 1 capital |
|
|
| 13,625 |
| 13,625 |
|
|
| |
1 | UBS Group Funding (Switzerland) AG3 | CH0271428309 | 19.02.15 | EUR 1,000 | 1,115 |
| 1,115 |
| Perpetual | 19.02.22 |
2 | UBS Group Funding (Switzerland) AG3 | CH0271428333 | 19.02.15 | USD 1,250 | 1,289 |
| 1,289 |
| Perpetual | 19.02.25 |
Total low-trigger loss-absorbing additional tier 1 capital5 |
|
|
| 2,404 |
| 2,404 |
|
|
| |
Total additional tier 1 capital |
|
|
| 16,029 |
| 16,029 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
Tier 2 capital |
|
|
|
|
|
|
|
|
| |
1 | UBS AG, Stamford branch | US90261AAB89 | 17.08.12 | USD 2,000 | 805 | 1,208 |
| 2,014 | 17.08.22 |
|
2 | UBS AG | CH0244100266 | 15.05.14 | USD 2,500 | 2,098 | 524 |
| 2,622 | 15.05.24 |
|
3 | UBS AG | CH0236733827 | 13.02.14 | EUR 2,000 | 2,237 |
|
| 2,237 | 12.02.26 | 12.02.21 |
Total low-trigger loss-absorbing tier 2 capital6 |
|
|
| 5,140 | 1,733 |
| 6,873 |
|
| |
1 | UBS AG, Jersey branch8 | XS0331313055 | 19.11.07 | GBP 130 |
|
|
|
| 19.11.19 | 19.11.19 |
2 | UBS AG, New York branch | US870836AC77 | 21.07.95 | USD 251 |
| 252 |
| 252 | 15.07.25 |
|
3 | UBS AG, Jersey branch | XS0062270581 | 18.12.95 | GBP 61 |
| 75 |
| 75 | 18.12.25 |
|
4 | UBS AG, New York branch | US870845AC84 | 03.09.96 | USD 218 |
| 207 |
| 207 | 01.09.26 |
|
Total non-Basel III-compliant tier 2 capital7 |
|
|
|
| 534 |
| 534 |
|
| |
Total tier 2 capital |
|
|
| 5,140 | 2,267 |
| 7,407 |
|
| |
2
Capital instruments and TLAC-eligible senior unsecured debt as of 30 September 20191 | ||||||||||
millions, except where indicated |
|
|
| Swiss SRB, incl. transitional arrangements | Swiss SRB as of 1.1.20 |
|
| |||
|
|
|
|
| Going concern | Gone concern2 | Going concern | Gone concern2 |
|
|
No. | Issuer | ISIN | Issue date | Outstanding amount as of 30.9.19 | Amount recognized in regulatory capital as of 30.9.19 | Amount eligible for the gone concern requirement as of 30.9.19 | Amount recognized in regulatory capital as of 30.9.19 | Amount eligible for the gone concern requirement as of 30.9.19 | Maturity date | Optional call date |
TLAC-eligible senior unsecured debt |
|
|
|
|
|
|
|
|
| |
1 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAA54 RegS: USG91703AA90 | 24.09.15 | USD 1,500 |
|
|
|
| 24.09.20 |
|
2 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAC11 RegS: USG91703AC56 | 24.09.15 | USD 300 |
|
|
|
| 24.09.20 |
|
3 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAE76 RegS: USG91703AJ00 | 05.04.16 | USD 1,000 |
| 498 |
| 498 | 14.04.21 |
|
4 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAD93 RegS: USG91703AH44 | 05.04.16 | USD 2,000 |
| 979 |
| 979 | 15.04.21 |
|
5 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAG25 RegS: USG91703AL55 | 10.08.16 | USD 500 |
| 474 |
| 474 | 01.02.22 |
|
6 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAH08 RegS: USG91703AM39 | 10.08.16 | USD 2,000 |
| 1,968 |
| 1,968 | 01.02.22 |
|
7 | UBS Group Funding (Switzerland) AG3 | CH0310451841 | 22.02.16 | CHF 300 |
| 304 |
| 304 | 22.02.22 |
|
8 | UBS Group Funding (Switzerland) AG3 | CH0359915425 | 20.03.17 | EUR 1,750 |
| 1,896 |
| 1,896 | 20.09.22 | 20.09.21 |
9 | UBS Group Funding (Switzerland) AG3 | CH0302790123 | 16.11.15 | EUR 1,250 |
| 1,403 |
| 1,403 | 16.11.22 |
|
10 | UBS Group Funding (Switzerland) AG3 | 144A: US90352JAA16 RegS: USH4209UAA46 | 23.03.17 | USD 2,000 |
| 2,023 |
| 2,023 | 23.05.23 | 23.05.22 |
11 | UBS Group Funding (Switzerland) AG3 | 144A: US90352JAB98 RegS: USH4209UAB29 | 23.03.17 | USD 1,000 |
| 1,002 |
| 1,002 | 23.05.23 | 23.05.22 |
12 | UBS Group Funding (Switzerland) AG3 | 144A: US90352JAE38 RegS: USH4209UAG16 | 15.08.17 | USD 2,000 |
| 2,006 |
| 2,006 | 15.08.23 | 15.08.22 |
13 | UBS Group Funding (Switzerland) AG3 | 144A: US90352JAD54 RegS: USH4209UAF33 | 15.08.17 | USD 1,250 |
| 1,246 |
| 1,246 | 15.08.23 | 15.08.22 |
14 | UBS Group Funding (Switzerland) AG3 | CH0314209351 | 04.03.16 | EUR 750 |
| 842 |
| 842 | 04.03.24 |
|
15 | UBS Group Funding (Switzerland) AG3 | CH0365501516 | 18.05.17 | CHF 400 |
| 410 |
| 410 | 18.05.24 | 18.05.23 |
16 | UBS Group Funding (Switzerland) AG3 | CH0445624981 | 09.11.18 | JPY 130,000 |
| 1,215 |
| 1,215 | 08.11.24 | 08.11.23 |
17 | UBS Group Funding (Switzerland) AG3 | CH0341440334 | 30.11.16 | EUR 1,250 |
| 1,403 |
| 1,403 | 30.11.24 | 30.11.23 |
18 | UBS Group Funding (Switzerland) AG3 | CH0459297435 | 30.01.19 | CHF 400 |
| 409 |
| 409 | 30.01.25 | 30.01.24 |
19 | UBS Group Funding (Switzerland) AG3 | CH0409606354 | 17.04.18 | EUR 1,750 |
| 1,986 |
| 1,986 | 17.04.25 | 17.04.24 |
20 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAB38 RegS: USG91703AB73 | 24.09.15 | USD 2,500 |
| 2,596 |
| 2,596 | 24.09.25 |
|
21 | UBS Group Funding (Switzerland) AG3 | CH0310451858 | 22.02.16 | CHF 150 |
| 156 |
| 156 | 23.02.26 |
|
22 | UBS Group Funding (Switzerland) AG3 | 144A: US90351DAF42 RegS: USG91703AK72 | 05.04.16 | USD 2,000 |
| 2,022 |
| 2,022 | 15.04.26 |
|
23 | UBS Group Funding (Switzerland) AG3 | CH0336602930 | 01.09.16 | EUR 1,250 |
| 1,408 |
| 1,408 | 01.09.26 | 01.06.26 |
24 | UBS Group Funding (Switzerland) AG3 | 144A: US90352JAC71 RegS: USH4209UAC02 | 23.03.17 | USD 2,000 |
| 2,127 |
| 2,127 | 23.03.28 | 23.03.27 |
3
Capital instruments and TLAC-eligible senior unsecured debt as of 30 September 20191 | ||||||||||
millions, except where indicated |
|
|
| Swiss SRB, incl. transitional arrangements | Swiss SRB as of 1.1.20 |
|
| |||
|
|
|
|
| Going concern | Gone concern2 | Going concern | Gone concern2 |
|
|
No. | Issuer | ISIN | Issue date | Outstanding amount as of 30.9.19 | Amount recognized in regulatory capital as of 30.9.19 | Amount eligible for the gone concern requirement as of 30.9.19 | Amount recognized in regulatory capital as of 30.9.19 | Amount eligible for the gone concern requirement as of 30.9.19 | Maturity date | Optional call date |
25 | UBS Group Funding (Switzerland) AG3 | CH0445624999 | 09.11.18 | JPY 20,000 |
| 190 |
| 190 | 09.11.28 | 09.11.27 |
26 | UBS Group AG | 144A: US902613AA61 RegS: USH42097AZ05 | 13.08.19 | USD 1,500 |
| 1,507 |
| 1,507 | 13.08.30 | 13.08.29 |
Total TLAC-eligible senior unsecured debt |
|
|
|
| 30,069 |
| 30,069 |
|
| |
1 Refer to “Capital and total loss-absorbing capacity instruments” under “Bondholder information” at www.ubs.com/investors for more information on the key features and the terms and conditions of the capital instruments included in the above table. Instruments are listed according to their maturity or optional call date. 2 Instruments available to meet gone concern requirements are eligible until one year before maturity, with a haircut of 50% applied in the last year of eligibility. 3 The instruments issued by UBS Group Funding (Switzerland) AG (including the instruments originally issued by UBS Group AG, Switzerland and transferred in May 2018 to UBS Group Funding (Switzerland) AG) as well as the TLAC issued by UBS Group Funding (Switzerland) AG were transferred to UBS Group AG as issuer on 11 October 2019. 4 Relates to deferred contingent capital plan (DCCP) awards. DCCP instruments qualifying as tier 2 capital are eligible for regulatory capital purposes until 31 December of the year prior to maturity. 5 Outstanding low-trigger loss-absorbing additional tier 1 capital instruments are available under the transitional rules of the Swiss SRB framework to meet the going concern requirements until their first call date, even if the first call date is after 31 December 2019. As of their first call date, these instruments are eligible to meet the gone concern requirements. 6 Outstanding high- and low-trigger loss-absorbing tier 2 capital instruments are available under the transitional rules of the Swiss SRB framework to meet the going concern requirements until the earlier of (i) their maturity or first call date or (ii) 31 December 2019, and to meet gone concern requirements thereafter. Outstanding low-trigger loss-absorbing tier 2 capital instruments are subject to amortization starting five years prior to their maturity, with the amortized portion qualifying as gone concern loss-absorbing capacity. 7 Non-Basel III-compliant tier 2 capital instruments qualify as gone concern instruments. 8 This instrument was called at its optional call date, and is therefore no longer eligible as capital instrument given the residual tenure is less than two years. | ||||||||||
4
Notice to investors | This document and the information contained herein are provided solely for information purposes, and are not to be construed as solicitation of an offer to buy or sell any securities or other financial instruments in Switzerland, the United States or any other jurisdiction. No investment decision relating to securities of or relating to UBS Group AG, UBS AG or their affiliates should be made on the basis of this document. Refer to UBS’s third quarter 2019 report and its Annual Report 2018 for additional information. These reports are available at www.ubs.com/investors.
Rounding | Numbers presented throughout this report may not add up precisely to the totals provided in the tables and text. Percentages, percent changes, and adjusted results are calculated on the basis of unrounded figures. Information about absolute changes between reporting periods, which is provided in text and that can be derived from figures displayed in the tables, is calculated on a rounded basis.
Tables | Within tables, blank fields generally indicate that the field is not applicable or not meaningful, or that information is not available as of the relevant date or for the relevant period. Zero values generally indicate that the respective figure is zero on an actual or rounded basis. Percentage changes are presented as a mathematical calculation of the change between periods.
5
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.
UBS Group AG
By: _/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By: _/s/ Ella Campi _____
Name: Ella Campi
Title: Executive Director
UBS AG
By: _/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By: _/s/ Ella Campi _____
Name: Ella Campi
Title: Executive Director
Date: October 22, 2019
