6-K

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

For the month of March 2023

Commission File Number 001-16429

ABB Ltd

(Translation of registrant’s name into English)

Affolternstrasse 44, CH-8050, Zurich, Switzerland

(Address of principal executive office)

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

☒

Form 40-F

⬜

Indicate by check mark if the registrant

is submitting the Form 6-K in paper

as permitted by Regulation S-T Rule

101(b)(1):

⬜

Note:

Regulation S-T Rule 101(b)(1) only

permits the submission in paper of

a Form 6-K if submitted solely to provide

an attached

annual report to security holders.

Indication by check mark if the registrant

is submitting the Form 6-K in paper

as permitted by Regulation S-T Rule

101(b)(7):

⬜

Note:

Regulation S-T Rule 101(b)(7) only

permits the submission in paper of

a Form 6-K if submitted to furnish a

report or other

document that the registrant foreign

private issuer must furnish

and make public under the laws

of the jurisdiction in which the

registrant is incorporated, domiciled

or legally organized (the registrant’s “home country”), or

under the rules of the home country

exchange on which the registrant’s securities are traded,

as long as the report or other document

is not a press release, is not required

to be and has not been distributed to

the registrant’s security holders, and, if discussing a material

event, has already been

the subject

of a Form 6-K submission or other Commission

filing on EDGAR.

Indicate by check mark whether

the registrant by furnishing the

information contained in this Form is

also thereby furnishing the

information to the Commission pursuant

to Rule 12g3-2(b) under the Securities

Exchange Act of 1934.

Yes

⬜

No

☒

If “Yes” is marked, indicate below the file number assigned to the

registrant in connection with Rule 12g3-2(b):

82-

This Form 6-K consists of the following:

1.

Press release issued by ABB Ltd dated March

31, 2023, titled “ABB launches new

share buyback program of

up to

$1 billion”.

2

—

ZURICH, SWITZERLAND,

MARCH 31,

2023

ABB launches new share buyback

program of up to $1 billion

On April 3, 2023, ABB will launch

its previously announced new

share buyback program of up to $1

billion.

Based on the current ABB share price

this represents a maximum of

approximately 30 million

shares. The

maximum number of shares

that may be repurchased under

this new program on any given

trading day

is 762,196.

This new program is consistent with

ABB’s capital allocation principles

and its capital structure optimization

program targeting to maintain

a strong investment grade

rating. Since July 2020, ABB has

repurchased

about 286 million shares for capital

reduction purposes for a total

amount of approximately $8.6 billion.

The total number of ABB’s issued shares

is 1,964,745,075. This includes

82,742,500 shares that were

repurchased under the share buyback

programs 2021/22 and

2022/23 and remain to be cancelled.

ABB will

use the new capital band approved

at its Annual General Meeting

2023 for cancellation of these

shares. ABB

currently owns approximately 103 million

treasury shares.

The new share buyback program is

for capital reduction purposes

and will be executed on a second

trading

line on the SIX Swiss Exchange

(Valor: 35.767.961; ISIN: CH035 767 961 9). It is planned

to run from

April 3, 2023, until March 20, 2024.

ABB intends to cancel the shares

repurchased under the new program

using the newly introduced capital

band in due course.

The new share buyback program will

be managed by a bank mandated

by ABB that, based on trading

parameters received from ABB, will

make its trading decisions

concerning the timing of share

repurchases

independently of ABB. ABB can

change these parameters outside

of its closed periods and if it is not

in

possession of any inside information.

The purchase price per share will

not exceed the higher of

the price of the last independent

trade on the

ordinary trading line on the SIX

Swiss Exchange and the highest

current independent bid price

on the

ordinary trading line on the SIX

Swiss Exchange. In addition,

customary spreads on purchases

on the

second trading line on the SIX Swiss

Exchange will be paid,

observing the limitations of the Ordinance

on

Financial Market Infrastructures and

Market Conduct in Securities

and Derivatives Trading (FMIO). Payment

for the shares will be made in cash.

The buyback program is being

carried out in accordance with the

Ordinance on Financial Market

Infrastructures and Market Conduct in

Securities and Derivatives

Trading (FMIO), the Market Abuse

Regulation (EU) No 596/2014

and the Commission Delegated

Regulation (EU) No 2016/1052.

Weekly

updates on the program will be published

on ABB’s investor relations website at

https://global.abb/group/en/investors/investor-and-shareholder-resources/share-buybacks

and issued by

press release.

ABB

is a technology leader in electrification

and automation, enabling

a more sustainable and

resource-efficient future. The company’s solutions

connect engineering

know-how and software to optimize

how things are manufactured, moved,

powered and operated.

Building on more than 130 years of

excellence, ABB’s ~105,000 employees

are committed to driving innovations

that accelerate industrial

transformation. www.abb.com

1/2

Important notice about forward-looking

information

This press release includes forward-looking

information and statements concerning

the share buyback

program. These statements are based

on current expectations, estimates

and projections about the factors

that may affect our future performance, and

are generally identifiable

by statements containing words such

as “intends”, “expects,” “plans”, or

similar expressions. However, there are many

risks and uncertainties,

many of which are beyond our control,

that could affect our ability to achieve any

or all of our stated targets.

Factors that could cause such differences

include, among others, business risks

associated with the volatile

global economic environment

and political conditions, changes in

governmental regulations

and currency

exchange rates and such other

factors as may be discussed

from time to time in ABB Ltd’s filings

with the

U.S. Securities and Exchange Commission,

including its Annual Reports

on Form 20-F. Although ABB Ltd

believes that its expectations reflected

in any such forward-looking

statement are based upon reasonable

assumptions, it can give no assurance

that those expectations will be achieved.

—

For more information please

contact:

Media Relations

Phone: +41 43 317 71 11

Email: media.relations@ch.abb.com

Investor Relations

Phone: +41 43 317 71 11

Email: investor.relations@ch.abb.com

ABB Ltd

Affolternstrasse 44

8050 Zurich

Switzerland

ABB LAUNCHES NEW SHARE

BUYBACK PROGRAM OF UP

TO $1 BILLION

2/2

SIGNATURES

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.

ABB LTD

Date: March 31, 2023.

By:

/s/ Ann-Sophie Nordh

Name:

Ann-Sofie Nordh

Title:

Group Senior Vice President and

Head of Investor Relations

Date: March 31, 2023.

By:

/s/ Richard A. Brown

Name:

Richard A. Brown

Title:

Group Senior Vice President and

Chief Counsel Corporate & Finance