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”). For further information please download the release.

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.

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 Group AG and UBS AG