UBS 4 Bond Series Totalling $5 Billion of AT1 Bonds are Now Subject to Equity Conversion Instead of Write-Down in Trigger or Viability Event, UBS Shareholders Approved Amendments at AGM on 24th April 2024 with Change Effective 10th May 2024, 2 Bonds Issued in 2023 November & 2 Bonds Issued in 2024 February
15th May 2024 | Hong Kong
UBS 4 bond series totalling $5 billion of AT1 bonds (Additional Tier-1) are now subject to equity conversion instead of write-down in a trigger or viability event. UBS shareholders had approved the amendments at UBS AGM (Annual General Meeting) on 24th April 2024 with the change effective 10th May 2024. 2 of the UBS bonds were issued in 2023 November & 2 UBS bonds issued in 2024 February. UBS (13/5/24): “Following shareholder approval of the creation of conversion capital and amendments to the Articles of Association at UBS Group AG’s Annual General Meeting on 24 April 2024, a Conversion Capital Availability Event, as defined in the terms and conditions of the relevant instrument, occurred on 10 May 2024 for the below listed four series of UBS Group AG Additional Tier 1 instruments. As a result, as from such date, these instruments are subject to equity conversion (and no longer subject to write-down) upon the occurrence of a trigger event or a viability event.” See below for more info:
“ UBS 4 Bond Series Totalling $5 Billion of AT1 Bonds are Now Subject to Equity Conversion Instead of Write-Down in Trigger or Viability Event, UBS Shareholders Approved Amendments at AGM on 24th April 2024 with Change Effective 10th May 2024, 2 Bonds Issued in 2023 November & 2 Bonds Issued in 2024 February “
UBS 4 Bond Series Totalling $5 Billion of AT1 Bonds are Now Subject to Equity Conversion Instead of Write-Down in Trigger or Viability Event, UBS Shareholders Approved Amendments at AGM on 24th April 2024 with Change Effective 10th May 2024, 2 Bonds Issued in 2023 November & 2 Bonds Issued in 2024 February
ISIN | CUSIP | Issuance Date | Title of Instrument | Aggregate Principal Amount Outstanding |
US902613BE74 / USH42097ER43 (144A / Reg S) |
902613 BE7 / H42097 ER4 (144A / Reg S) |
13 November 2023 | 9.250 per cent. Tier 1 Capital Notes |
USD 1,750,000,000 |
US902613BF40 / USH42097ES26 (144A / Reg S) |
902613 BF4 / H42097 ES2 (144A / Reg S) |
13 November 2023 | 9.250 per cent. Tier 1 Capital Notes |
USD 1,750,000,000 |
US902613BK35 / USH42097EW38 (144A / Reg S) |
902613 BK3 / H42097 EW3 (144A / Reg S) |
12 February 2024 | 7.750 per cent. Tier 1 Capital Notes |
USD 1,000,000,000 |
CH1325807860 | N/A | 21 February 2024 | 5.750 per cent. Tier 1 Capital Notes |
SGD 650,000,000 |
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