Bonds and Rating

ISINs:
CH0292984439; callable for the first time on 23 November 2022
CH0255893098; callable for the first time on 17 October 2024

Date: 4 January 2022

Taking in account the fact that CHF LIBOR settings do no longer take place and in accordance with the recommendations issued by the National Working Group on Swiss Franc Reference Rates, the Issuer announces that with immediate effect it will interpretate the terms and conditions of its outstanding subordinated debt instruments listed above as if the LIBOR mid swap market rates had been replaced by the SARON Compound mid swap market rates for the purpose of the calculation of the reset interest rate in case the issuer chooses not to call the respective subordinated instrument on the first call date.

To compensate, in such cases, investors for the structural difference between SARON Compound and LIBOR mid swap market rates, a spread adjustment in line with the ISDA 2020 IBOR Fallbacks Protocol shall be made. For the subordinated instruments listed above, referring to a 5 year mid swap rate, such spread adjustment amounts to 0.0741% over the subsequent reset (fixed) interest rate. Such spread adjustment rate shall be included in the calculation of the reset interest rate in accordance with the prevailing terms and conditions. The initial margin remains unchanged as per the Terms & Conditions of the respective instrument.
The calculation of subsequent reset (fixed) interest rate is relevant only if and when the issuer chooses not to call the respective subordinated debt instrument on the first or any subsequent call date.

This Official Notice including more information is available on the website of SIX.

ID: 320434
Date: 19.09.2024
Type: Further notice
Issuer: UBS AG
ISIN: CH0579132959
Title: LIBOR transition: Interpretation of the coupon reset clause in respect of a subordinated Swiss Franc debt instrument issued by Helvetia Schweizerische Versicherungsgesellschaft AG

ISINs: CH0579132959; callable for the first time on 26 May 2028

Date: 19 September 2024

This notice is to read as if CH0579132959 was included in the official notice ID 269383 published on 4 January 2022 https://www.ser-ag.com/en/resources/notifications-market-participants/official-notices.html#/notice-details/269383,, i.e.

Taking in account the fact that CHF LIBOR settings do no longer take place and in accordance with the recommendations issued by the National Working Group on Swiss Franc Reference Rates, the Issuer announces that with immediate effect it will interpretate the terms and conditions of its outstanding subordinated debt instrument listed above as if the LIBOR mid swap market rates had been replaced by the SARON Compound mid swap market rates for the purpose of the calculation of the reset interest rate in case the issuer chooses not to call the subordinated instrument on the first call date.

To compensate, in such cases, investors for the structural difference between SARON Compound and LIBOR mid swap market rates, a spread adjustment in line with the ISDA 2020 IBOR Fallbacks Protocol shall be made. For the subordinated instrument listed above, referring to a 5 year mid swap rate, such spread adjustment amounts to 0.0741% over the subsequent reset (fixed) interest rate. Such spread adjustment rate shall be included in the calculation of the reset interest rate in accordance with the prevailing terms and conditions. The initial margin remains unchanged as per the Terms & Conditions of the instrument.

The calculation of subsequent reset (fixed) interest rate is relevant only if and when the issuer chooses not to call the subordinated debt instrument on the first or any subsequent call date.

This Official Notice including more information is available on the website of SIX