UBS Group AG 6-K, filed Jan 26, 2021
UBS Group AG (UBS)
About this 6-K
UBS Group AG filed this 6-K on January 26, 2021.
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: January 26, 2021
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 4Q20 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
Fourth quarter 2020
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 systemically relevant bank (SRB) framework as of 31 December 2020.
Information on the Swiss SRB capital framework and on Swiss SRB going and gone concern requirements that were phased in until the end of 2019 is provided in the “Capital management” section of our Annual Report 2019, which is available under “Annual reporting” at ubs.com/investors .
Information on the new capital requirements effective from 1 January 2020 is provided in the “Capital management” section of our first quarter 2020 report, which is available under “Quarterly reporting” at ubs.com/investors .
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| Capital instruments and TLAC-eligible senior unsecured debt as<br> of 31 December 20201 | ||||||||
|---|---|---|---|---|---|---|---|---|
| million, except where<br> indicated | **** | **** | **** | Swiss SRB | **** | **** | ||
| **** | **** | **** | **** | **** | Going concern | Gone concern^2^ | **** | **** |
| No. | Issuer | ISIN | Issue date | Outstanding amount as of 31.12.20 | Amount recognized<br><br> <br>in regulatory capital<br><br> <br>as of 31.12.20 | Amount eligible for<br><br> <br>the gone concern requirement<br><br> <br>as of 31.12.20 | Maturity date | First optional call date |
| Additional tier 1 capital | **** | **** | **** | **** | **** | **** | **** | |
| 1 | UBS Group AG, Switzerland, or employing subsidiaries^3^ | 31.12.15 | USD 458 | 458 | **** | Perpetual | 01.03.21 | |
| 2 | UBS Group AG | CH0317921697 | 21.03.16 | USD 1,500 | 1,504 | **** | Perpetual | 22.03.21 |
| 3 | UBS Group AG | CH0331455318 | 10.08.16 | USD 1,100 | 1,106 | **** | Perpetual | 10.08.21 |
| 4 | UBS Group AG, Switzerland, or employing subsidiaries^3^ | 31.12.16 | USD 360 | 360 | **** | Perpetual | 01.03.22 | |
| 5 | UBS Group AG | CH0400441280 | 31.01.18 | USD 2,000 | 2,090 | **** | Perpetual | 31.01.23 |
| 6 | UBS Group AG, Switzerland, or employing subsidiaries^3^ | 31.12.17 | USD 356 | 356 | **** | Perpetual | 01.03.23 | |
| 7 | UBS Group AG | CH0447353704 | 28.11.18 | SGD 700 | 559 | **** | Perpetual | 28.11.23 |
| 8 | UBS Group AG | 144A: US90352JAF03<br><br> <br>RegS: USH4209UAT37 | 31.01.19 | USD 2,500 | 2,674 | **** | Perpetual | 31.01.24 |
| 9 | UBS Group AG, Switzerland, or employing subsidiaries^3^ | 31.12.18 | USD 387 | 387 | **** | Perpetual | 01.03.24 | |
| 10 | UBS Group AG | CH0488506673 | 27.08.19 | AUD 700 | 550 | **** | Perpetual | 27.08.24 |
| 11 | UBS Group AG | CH0495570928 | 04.09.19 | SGD 750 | 590 | **** | Perpetual | 04.09.24 |
| 12 | UBS Group AG, Switzerland, or employing subsidiaries^3^ | 21.02.20 | USD 313 | 313 | **** | Perpetual | 01.03.25 | |
| 13 | UBS Group AG | CH0286864027 | 07.08.15 | USD 1,575 | 1,709 | **** | Perpetual | 07.08.25 |
| 14 | UBS Group AG | CH0506668869 | 13.11.19 | CHF 275 | 311 | **** | Perpetual | 13.11.25 |
| 15 | UBS Group AG | CH0558521263 | 29.07.20 | USD 750 | 742 | **** | Perpetual | 29.07.26 |
| Total high-trigger loss-absorbing<br> additional tier 1 capital | **** | **** | **** | 13,711 | **** | **** | **** | |
| 1 | UBS Group AG | CH0271428309 | 19.02.15 | EUR 1,000 | 1,235 | **** | Perpetual | 19.02.22 |
| 2 | UBS Group AG | CH0271428333 | 19.02.15 | USD 1,250 | 1,341 | **** | Perpetual | 19.02.25 |
| Total low-trigger<br> loss-absorbing additional tier 1 capital4 | **** | **** | **** | 2,577 | **** | **** | **** | |
| Total additional tier 1<br> capital | **** | **** | **** | 16,288 | **** | **** | **** | |
| Tier 2 capital | **** | **** | **** | **** | **** | **** | **** | |
| 1 | UBS AG, Stamford branch | US90261AAB89 | 17.08.12 | 2,000 | 2,053 | 17.08.22 | ||
| 2 | UBS AG | CH0244100266 | 15.05.14 | 2,500 | 2,693 | 15.05.24 | ||
| 3 | UBS AG | CH0236733827 | 13.02.14 | 2,000 | 2,455 | 12.02.26 | 12.02.21 | |
| Total low-trigger<br> loss-absorbing tier 2 capital | **** | **** | **** | **** | 7,201 | **** | **** | |
| 1 | UBS AG, Stamford branch | US870836AC77 | 21.07.95 | 251 | 252 | 15.07.25 | ||
| 2 | UBS AG, Jersey branch | XS0062270581 | 18.12.95 | 61 | 84 | 18.12.25 | ||
| 3 | UBS AG, Stamford branch | US870845AC84 | 03.09.96 | 218 | 208 | 01.09.26 | ||
| Total non-Basel<br> III-compliant tier 2 capital5 | **** | **** | **** | **** | 543 | **** | **** | |
| Total tier 2 capital | **** | **** | **** | **** | 7,744 | **** | **** |
All values are in US Dollars.
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| Capital instruments and TLAC-eligible senior unsecured debt as<br> of 31 December 20201 | ||||||||
|---|---|---|---|---|---|---|---|---|
| million, except where<br> indicated | **** | **** | **** | Swiss SRB | **** | **** | ||
| **** | **** | **** | **** | **** | Going concern | Gone concern^2^ | **** | **** |
| No. | Issuer | ISIN | Issue date | Outstanding amount as of 31.12.20 | Amount recognized<br><br> <br>in regulatory capital<br><br> <br>as of 31.12.20 | Amount eligible for<br><br> <br>the gone concern requirement<br><br> <br>as of 31.12.20 | Maturity date | First optional call date |
| TLAC-eligible senior<br> unsecured debt | **** | **** | **** | **** | **** | **** | **** | |
| 1 | UBS Group AG | 144A: US90351DAE76<br><br> <br>RegS: USG91703AJ00 | 05.04.16 | 1,000 | **** | 14.04.21 | ||
| 2 | UBS Group AG | 144A: US90351DAD93<br><br> <br>RegS: USG91703AH44 | 05.04.16 | 1,8506 | **** | 15.04.21 | ||
| 3 | UBS Group AG | 144A: US90351DAG25<br><br> <br>RegS: USG91703AL55 | 10.08.16 | 500 | 501 | 01.02.22 | ||
| 4 | UBS Group AG | 144A: US90351DAH08<br><br> <br>RegS: USG91703AM39 | 10.08.16 | 2,000 | 1,999 | 01.02.22 | ||
| 5 | UBS Group AG | CH0310451841 | 22.02.16 | CHF 300 | 341 | 22.02.22 | ||
| 6 | UBS Group AG | CH0359915425 | 20.03.17 | 1,750 | 2,137 | 20.09.22 | 20.09.21 | |
| 7 | UBS Group AG | CH0302790123 | 16.11.15 | 1,250 | 1,555 | 16.11.22 | ||
| 8 | UBS Group AG | 144A: US90352JAA16<br><br> <br>RegS: USH4209UAA46 | 23.03.17 | 2,000 | 2,048 | 23.05.23 | 23.05.22 | |
| 9 | UBS Group AG | 144A: US90352JAB98<br><br> <br>RegS: USH4209UAB29 | 23.03.17 | 1,000 | 1,002 | 23.05.23 | 23.05.22 | |
| 10 | UBS Group AG | 144A: US90352JAE38<br><br> <br>RegS: USH4209UAG16 | 15.08.17 | 2,000 | 2,038 | 15.08.23 | 15.08.22 | |
| 11 | UBS Group AG | 144A: US90352JAD54<br><br> <br>RegS: USH4209UAF33 | 15.08.17 | 1,250 | 1,249 | 15.08.23 | 15.08.22 | |
| 12 | UBS Group AG | CH0314209351 | 04.03.16 | 750 | 940 | 04.03.24 | ||
| 13 | UBS Group AG | CH0365501516 | 18.05.17 | CHF 400 | 458 | 18.05.24 | 18.05.23 | |
| 14 | UBS Group AG | CH0445624981 | 09.11.18 | 130,000 | 1,264 | 08.11.24 | 08.11.23 | |
| 15 | UBS Group AG | CH0341440334 | 30.11.16 | 1,250 | 1,561 | 30.11.24 | 30.11.23 | |
| 16 | UBS Group AG | CH0459297435 | 30.01.19 | CHF 400 | 458 | 30.01.25 | 30.01.24 | |
| 17 | UBS Group AG | CH0409606354 | 17.04.18 | 1,750 | 2,207 | 17.04.25 | 17.04.24 | |
| 18 | UBS Group AG | 144A: US90351DAB38<br><br> <br>RegS: USG91703AB73 | 24.09.15 | 2,500 | 2,691 | 24.09.25 | ||
| 19 | UBS Group AG | CH0520042489 | 29.01.20 | 1,500 | 1,842 | 29.01.26 | 29.01.25 | |
| 20 | UBS Group AG | CH0310451858 | 22.02.16 | CHF 150 | 174 | 23.02.26 | ||
| 21 | UBS Group AG | 144A: US90351DAF42<br><br> <br>RegS: USG91703AK72 | 05.04.16 | 2,000 | 2,128 | 15.04.26 | ||
| 22 | UBS Group AG | CH0336602930 | 01.09.16 | 1,250 | 1,578 | 01.09.26 | 01.06.26 |
All values are in US Dollars.
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| Capital instruments and TLAC-eligible senior unsecured debt as<br> of 31 December 20201 | ||||||||
|---|---|---|---|---|---|---|---|---|
| million, except where<br> indicated | **** | **** | **** | Swiss SRB | **** | **** | ||
| **** | **** | **** | **** | **** | Going concern | Gone concern^2^ | **** | **** |
| No. | Issuer | ISIN | Issue date | Outstanding amount as of 31.12.20 | Amount recognized<br><br> <br>in regulatory capital<br><br> <br>as of 31.12.20 | Amount eligible for<br><br> <br>the gone concern requirement<br><br> <br>as of 31.12.20 | Maturity date | First optional call date |
| 23 | UBS Group AG | 144A: US90352JAC71<br><br> <br>RegS: USH4209UAC02 | 23.03.17 | 2,000 | 2,232 | 23.03.28 | 23.03.27 | |
| 24 | UBS Group AG | CH0445624999 | 09.11.18 | 20,000 | 197 | 09.11.28 | 09.11.27 | |
| 25 | UBS Group AG | 144A: US902613AA61<br><br> <br>RegS: USH42097AZ05 | 13.08.19 | 1,500 | 1,603 | 13.08.30 | 13.08.29 | |
| 27 | UBS Group AG | CH0506668844 | 04.11.19 | 146.27 | 154 ^8^ | 04.11.49 | 04.11.22 | |
| 28 | UBS Group AG | CH0521617321 | 04.03.20 | 123.67 | 133 ^8^ | 04.03.50 | 04.03.25 | |
| 29 | UBS Group AG | CH0535271214 | 14.04.20 | 205.77 | 190 ^8^ | 14.04.50 | 14.04.25 | |
| 30 | UBS Group AG | CH0547243250 | 22.05.20 | 102.17 | 92 ^8^ | 22.05.50 | 22.05.25 | |
| 31 | UBS Group AG | CH0543827189 | 27.05.20 | 510.47 | 468 ^8^ | 27.05.50 | 27.05.25 | |
| 32 | UBS Group AG | 144A: US902613AB45<br><br> <br>RegS: USH42097BS52 | 30.07.20 | 1,300 | 1,300 | 30.07.24 | 30.07.23 | |
| 33 | UBS Group AG | 144A: US902613AC28<br><br> <br>RegS: USH42097BT36 | 30.07.20 | 1,300 | 1,293 | 30.01.27 | 30.01.26 | |
| 34 | UBS Group AG | CH0558521271 | 18.08.20 | AUD 36.37 | 27 ^8^ | 18.08.35 | 18.08.30 | |
| 35 | UBS Group AG | CH0561923860 | 22.09.20 | 55.47 | 52 ^8^ | 22.09.50 | 22.09.23 | |
| 36 | UBS Group AG | CH0576402181 | 05.11.20 | 1,500 | 1,816 | 05.11.28 | 05.11.27 | |
| 37 | UBS Group AG | CH0579132942 | 24.11.20 | 40 | 40 ^8^ | 24.11.35 | 24.11.23 | |
| 38 | UBS Group AG | CH0581183594 | 03.12.20 | AUD 45 | 34 ^8^ | 03.12.35 | 03.12.23 | |
| Total TLAC-eligible senior<br> unsecured debt | **** | **** | **** | **** | 37,801 | **** | **** | |
| 1 Refer to “Capital and total loss-absorbing capacity<br> instruments” under “Bondholder information” at ubs.com/investors for more<br> information about the key features and the terms and conditions of the<br> capital instruments included in the table above. Instruments are listed<br> according to their maturity and optional call date, if applicable. <br> 2 According to the eligibility criteria as per the Capital Adequacy<br> Ordinance applicable as of 1 January 2020, instruments available to meet gone<br> concern requirements remain eligible until one year before maturity without a<br> haircut of 50% in the last year of eligibility. 3 Relates to deferred<br> contingent capital plan (DCCP) awards. 4 Includes outstanding<br> low-trigger loss-absorbing additional tier 1 (AT1) capital instruments, which<br> are available under the Swiss SRB framework to meet the going concern<br> requirements until their first call date. As of their first call date, these<br> instruments are eligible to meet the gone concern requirements. 5<br> Non-Basel III-compliant tier 2 capital instruments qualify as gone concern<br> instruments. 6 Nominal reduced to 1.85 billion following a partial<br> cancellation of 0.15 billion of the original 2 billion notional<br> amount announced on 8 December 2020. 7 Information corresponds to the<br> amortized face amount as of 31 December 2020, and therefore includes the<br> applicable accrual yield. 8 The eligible amounts presented are adjusted<br> for own credit related gains / losses. |
All values are in US Dollars.
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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 fourth quarter 2020 report and its Annual Report 2019 for additional information. These reports are available at ubs.com/investors.
Rounding | Numbers presented throughout this report may not add up precisely to the totals provided in the tables and text. Percentages and percent changes are calculated on the basis of unrounded figures. Information about absolute changes between reporting periods, which is provided in text and which 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.
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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: January 26, 2021