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: October 28, 2016
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 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 x Form 40-F o
This Form 6-K consists of the 3Q16 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
Third quarter 2016
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 SRB framework as of 30 September 2016.
® Refer to the UBS Group third quarter 2016 report, available under “Quarterly reporting” at www.ubs.com/investors for more information on the Swiss SRB requirements
1
Eligible capital and instruments contributing to our
loss-absorbing capacity
In addition to CET1 capital, our capital instruments and instruments contributing to our loss-absorbing capacity include:
– Loss-absorbing additional tier 1 (AT1) capital (high- and low-trigger)
– Loss-absorbing tier 2 capital (high- and low-trigger)
– Phase-out hybrid tier 1 capital
– Phase-out tier 2 capital
– TLAC-eligible senior unsecured debt
Under the Swiss SRB rules, going concern capital includes CET1 and high-trigger AT1 capital.
Under the transitional rules for the Swiss SRB framework, existing low-trigger AT1 capital instruments will remain available to meet the going concern capital requirements until their first call date, even if the first call date is after 31 December 2019. From their first call date, existing low-trigger AT1 capital instruments may be used to meet the gone concern requirements.
Outstanding low- and high-trigger tier 2 instruments will also remain available to meet the going concern capital requirements until the earlier of their maturity or first call date or 31 December 2019. From 1 January 2020, these instruments may be used to meet the gone concern requirements until one year before maturity, with a haircut of 50% applied in the last year of eligibility.
Phase-out hybrid tier 1 and phase-out tier 2 capital instruments are no longer subject to phase-out under the Swiss SRB framework applicable as of 1 July 2016. They may be eligible to meet the gone concern requirements until one year prior to maturity, with a haircut of 50% applied in the last year of eligibility. Treatment of these instruments is subject to final agreement with FINMA.
TLAC-eligible senior unsecured debt is eligible to meet the gone concern requirements.
2
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Capital instruments and TLAC-eligible senior unsecured debt¹ |
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CHF million, except where indicated |
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No. |
Issuer |
ISIN |
Issue date |
Outstanding amount as of 30.9.16 |
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Additional tier 1 capital |
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1 |
UBS Group AG, Switzerland, or employing subsidiaries² |
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31.12.14 |
CHF 459 |
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2 |
UBS Group AG, Switzerland |
CH0271428317 |
19.02.15 |
USD 1,250 |
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3 |
UBS Group AG, Switzerland |
CH0286864027 |
07.08.15 |
USD 1,575 |
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4 |
UBS Group AG, Switzerland, or employing subsidiaries² |
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31.12.15 |
CHF 509 |
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5 |
UBS Group AG, Switzerland |
CH0317921697 |
21.03.16 |
USD 1,500 |
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6 |
UBS Group AG, Switzerland |
CH0331455318 |
10.08.16 |
USD 1,100 |
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Total high-trigger loss-absorbing additional tier 1 capital |
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1 |
UBS Group AG, Switzerland |
CH0271428309 |
19.02.15 |
EUR 1,000 |
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2 |
UBS Group AG, Switzerland |
CH0271428333 |
19.02.15 |
USD 1,250 |
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Total low-trigger loss-absorbing additional tier 1 capital³ |
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Total additional tier 1 capital |
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Phase-out hybrid tier 1 capital⁴ |
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1 |
UBS Capital Securities (Jersey) Ltd |
XS0336744650 |
21.12.07 |
EUR 600 |
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Total phase-out hybrid tier 1 capital |
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Tier 2 capital |
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1 |
UBS Group AG, Switzerland, or employing subsidiaries² |
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31.12.12 |
CHF 421 |
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2 |
UBS Group AG, Switzerland, or employing subsidiaries² |
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31.12.13 |
CHF 463 |
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Total high-trigger loss-absorbing tier 2 capital⁵ |
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1 |
UBS AG, Switzerland, Jersey branch |
XS0747231362 |
22.02.12 |
USD 2,000 |
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2 |
UBS AG, Switzerland, Stamford branch |
US90261AAB89 |
17.08.12 |
USD 2,000 |
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3 |
UBS AG, Switzerland |
CH0214139930 |
22.05.13 |
USD 1,500 |
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4 |
UBS AG, Switzerland |
CH0236733827 |
13.02.14 |
EUR 2,000 |
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5 |
UBS AG, Switzerland |
CH0244100266 |
15.05.14 |
USD 2,500 |
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Total low-trigger loss-absorbing tier 2 capital⁵ |
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1 |
UBS AG, Switzerland, New York branch |
US870836AC77 |
21.07.95 |
USD 251 |
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2 |
UBS AG, Switzerland, Jersey branch |
XS0062270581 |
18.12.95 |
GBP 61 |
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3 |
UBS AG, Switzerland, New York branch |
US870845AC84 |
03.09.96 |
USD 218 |
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4 |
UBS AG, Switzerland, Jersey branch |
XS0331313055 |
19.11.07 |
GBP 130 |
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5 |
UBS AG, Switzerland |
CH0035789210 |
27.12.07 |
CHF 192 |
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Total phase-out tier 2 capital⁴ |
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Total tier 2 capital |
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TLAC-eligible senior unsecured debt |
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1 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAA54 |
24.09.15 |
USD 1,500 |
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2 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAB38 |
24.09.15 |
USD 2,500 |
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3 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAC11 |
24.09.15 |
USD 300 |
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4 |
UBS Group Funding (Jersey) Limited - Jersey |
CH0302790123 |
16.11.15 |
EUR 1,250 |
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5 |
UBS Group Funding (Jersey) Limited - Jersey |
CH0310451841 |
22.02.16 |
CHF 300 |
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6 |
UBS Group Funding (Jersey) Limited - Jersey |
CH0310451858 |
22.02.16 |
CHF 150 |
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7 |
UBS Group Funding (Jersey) Limited - Jersey |
CH0314209351 |
04.03.16 |
EUR 750 |
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8 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAD93 |
05.04.16 |
USD 2,000 |
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9 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAE76 |
05.04.16 |
USD 1,000 |
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10 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAF42 |
05.04.16 |
USD 2,000 |
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11 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAG25 |
10.08.16 |
USD 500 |
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12 |
UBS Group Funding (Jersey) Limited - Jersey |
US90351DAH08 |
10.08.16 |
USD 2,000 |
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13 |
UBS Group Funding (Jersey) Limited - Jersey |
CH0336602930 |
01.09.16 |
EUR 1,250 |
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Total TLAC-eligible senior unsecured debt |
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1 Refer to "Capital instruments" under "Bondholder information" at www.ubs.com/investors for more information on the key features and the terms and conditions of the capital instruments included in the above table as of 30 September 2016. 2 Relates to deferred contingent capital plan (DCCP) awards. 3 Outstanding low-trigger loss-absorbing additional tier 1 capital instruments will remain available to meet the going concern requirements under the transitional rules for the Swiss SRB framework until their first call date, even if the first call date is after 31 December 2019. From their first call date, they may be used to meet the gone concern requirements. 4 Phase-out hybrid tier 1 capital and phase-out tier 2 capital may still qualify as gone concern instruments. Under the Swiss SRB rules, these instruments are no longer subject to phase-out. Instruments with a maturity may be eligible to meet the gone concern requirements until one year prior to maturity, with a haircut of 50% applied in the last year of eligibility. The treatment of these instruments is subject to final agreement with FINMA. 5 Outstanding high- and low-trigger loss-absorbing tier 2 capital instruments will remain available to meet the going concern requirements under the transitional rules for the Swiss SRB framework until the earlier of their maturity or first call date or 31 December 2019. From 1 January 2020, these instruments may be used to meet the gone concern requirements until one year before maturity, with a haircut of 50% applied in the last year of eligibility. |
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3
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Swiss SRB incl. transitional arrangements (phase-in) |
Swiss SRB as of 1.1.20 (fully applied) |
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Going concern |
Gone concern |
Going concern |
Gone concern |
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Amount recognized in regulatory capital as of 30.9.16 |
Amount eligible for the gone concern requirement as of 30.9.16 |
Amount recognized in regulatory capital as of 30.9.16 |
Amount eligible for the gone concern requirement as of 30.9.16 |
Maturity date |
Optional call date |
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459 |
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459 |
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Perpetual |
01.03.20 |
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1,234 |
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1,234 |
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Perpetual |
19.02.20 |
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1,633 |
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1,633 |
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Perpetual |
07.08.25 |
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509 |
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509 |
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Perpetual |
01.03.21 |
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1,459 |
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1,459 |
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Perpetual |
22.03.21 |
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1,062 |
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1,062 |
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Perpetual |
10.08.21 |
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6,356 |
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6,356 |
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1,118 |
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1,118 |
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Perpetual |
19.02.22 |
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1,274 |
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1,274 |
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Perpetual |
19.02.25 |
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2,392 |
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2,392 |
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8,749 |
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8,749 |
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654 |
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654 |
Perpetual |
21.12.17 |
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654 |
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654 |
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421 |
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211 |
01.03.18 |
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463 |
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463 |
01.03.19 |
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884 |
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674 |
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1,942 |
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1,942 |
22.02.22 |
22.02.17 |
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1,980 |
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1,980 |
17.08.22 |
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1,452 |
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1,452 |
22.05.23 |
22.05.18 |
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2,307 |
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2,307 |
12.02.26 |
12.02.21 |
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2,650 |
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2,650 |
12.05.24 |
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10,332 |
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10,332 |
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243 |
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243 |
15.07.25 |
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77 |
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77 |
18.12.25 |
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192 |
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192 |
01.09.26 |
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164 |
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164 |
19.11.24 |
19.11.19 |
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96 |
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96 |
27.12.17 |
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772 |
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772 |
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11,216 |
772 |
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11,777 |
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1,477 |
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1,477 |
24.09.20 |
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2,571 |
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2,571 |
24.09.25 |
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291 |
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291 |
24.09.20 |
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1,399 |
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1,399 |
16.11.22 |
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304 |
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304 |
22.02.22 |
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153 |
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153 |
23.02.26 |
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830 |
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830 |
04.03.24 |
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1,949 |
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1,949 |
15.04.21 |
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970 |
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970 |
14.04.21 |
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1,983 |
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1,983 |
15.04.26 |
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485 |
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485 |
01.02.22 |
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1,933 |
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1,933 |
01.02.22 |
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1,353 |
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1,353 |
01.09.26 |
01.06.26 |
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15,698 |
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15,698 |
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4
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 third quarter 2016 report and its Annual Report 2015 for additional information. These reports are available at www.ubs.com/investors.
Rounding | Numbers presented throughout this document may not add up precisely to the totals provided in the tables and text. Percentages, percent changes and absolute variances are calculated on the basis of rounded figures displayed in the tables and text and may not precisely reflect the percentages, percent changes and absolute variances that would be derived based on figures that are not rounded.
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.
5
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.
UBS Group AG
By: _/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By: _/s/ Sarah M. Starkweather_____
Name: Sarah M. Starkweather
Title: Executive Director
UBS AG
By: _/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By: _/s/ Sarah M. Starkweather ____
Name: Sarah M. Starkweather
Title: Executive Director
Date: October 28, 2016