Supplemental guarantor information required under SEC regulations

6 Months Ended

Jun. 30, 2024

Supplemental Guarantor Information [Line Items]

Condensed Financial Information Of Parent Company Only Disclosure [Text Block]

Note 17 Supplemental guarantor information

In 2015, the Personal & Corporate Banking and Wealth Management businesses booked in Switzerland were

transferred from UBS AG to UBS Switzerland AG through an asset transfer in accordance with the Swiss Merger

Act. Under the terms of the asset transfer agreement, UBS Switzerland AG assumed joint liability for contractual

obligations of UBS AG existing on the asset transfer date, including the full and unconditional guarantee of certain

SEC-registered debt securities issued by UBS AG. The joint liability of UBS Switzerland AG for contractual obligations

of UBS AG decreased in the first half of 2024 by USD

0.5

bn to USD

2.8

bn as of 30 June 2024. The decrease

substantially relates to a combination of contractual maturities, fair value movements and foreign currency effects.

UBS AG, together with UBS Group AG, has fully and unconditionally guaranteed the outstanding SEC-registered

debt securities of Credit Suisse (USA), LLC, which as of 30 June 2024 consisted of a single outstanding issuance

with a balance of USD

742

m maturing in July 2032. Credit Suisse (USA), LLC is an indirect, wholly owned subsidiary

of UBS AG. UBS AG assumed Credit Suisse AG’s obligations under the guarantee as of 31 May 2024 (i.e., the date

of the merger). In accordance with the guarantee, if Credit Suisse (USA), LLC fails to make a timely payment under

the agreements governing such debt securities, the holders of the debt securities may demand payment from either

UBS Group AG or UBS AG, without first proceeding against Credit Suisse (USA), LLC.