Report of Foreign Issuer (6-k)
January 27 2017 - 7:08AM
Edgar (US Regulatory)
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 27, 2017
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.
This Form 6-K consists of the 4Q16 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 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 31 December 2016. Information on our Swiss
SRB going and gone concern requirements that are being phased in between 2016
and 2019 is available in our second quarter 2016 report. Details on our Swiss
SRB going and gone concern requirements and additional information as of 31
December 2016 will be disclosed in our Annual Report 2016, which will be
published on 10 March 2017.
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)
–
Non-Basel III-compliant tier 1 and 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, outstanding 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 (i) their maturity or first call date or (ii)
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.
Non-Basel III-compliant tier 1 and tier 2
capital are no longer subject to phase-out under the Swiss SRB framework
applicable as of 1 July 2016. They are 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.
TLAC-eligible senior unsecured debt is
eligible to meet the gone concern requirements.
|
Capital instruments and
TLAC-eligible senior unsecured debt¹
|
|
CHF million, except where
indicated
|
|
|
|
|
|
|
|
|
|
|
No.
|
Issuer
|
ISIN
|
Issue date
|
Outstanding amount as of 31.12.16
|
|
Additional tier 1 capital
|
|
|
|
|
1
|
UBS Group AG, Switzerland, or employing subsidiaries²
|
|
31.12.14
|
CHF 463
|
|
2
|
UBS Group AG, Switzerland
|
CH0271428317
|
19.02.15
|
USD 1,250
|
|
3
|
UBS Group AG, Switzerland
|
CH0286864027
|
07.08.15
|
USD 1,575
|
|
4
|
UBS Group AG, Switzerland, or employing subsidiaries²
|
|
31.12.15
|
CHF 517
|
|
5
|
UBS Group AG, Switzerland
|
CH0317921697
|
21.03.16
|
USD 1,500
|
|
6
|
UBS Group AG, Switzerland
|
CH0331455318
|
10.08.16
|
USD 1,100
|
|
7
|
UBS Group AG, Switzerland, or employing subsidiaries²
|
|
31.12.16
|
CHF 399
|
|
Total high-trigger
loss-absorbing additional tier 1 capital
|
|
|
|
|
1
|
UBS Group AG, Switzerland
|
CH0271428309
|
19.02.15
|
EUR 1,000
|
|
2
|
UBS Group AG, Switzerland
|
CH0271428333
|
19.02.15
|
USD 1,250
|
|
Total low-trigger
loss-absorbing additional tier 1 capital³
|
|
|
|
|
Total additional tier 1
capital
|
|
|
|
|
|
|
|
|
|
|
Non-Basel III-compliant tier
1 capital⁴
|
|
|
|
|
1
|
UBS Capital Securities (Jersey) Ltd
|
XS0336744650
|
21.12.07
|
EUR 600
|
|
Total non-Basel
III-compliant tier 1 capital
|
|
|
|
|
|
|
|
|
|
|
Tier 2 capital
|
|
|
|
|
1
|
UBS Group AG, Switzerland, or employing subsidiaries²
|
|
31.12.12
|
CHF 424
|
|
2
|
UBS Group AG, Switzerland, or employing subsidiaries²
|
|
31.12.13
|
CHF 467
|
|
Total high-trigger
loss-absorbing tier 2 capital⁵
|
|
|
|
|
1
|
UBS AG, Switzerland, Jersey branch
|
XS0747231362
|
22.02.12
|
USD 2,000
|
|
2
|
UBS AG, Switzerland, Stamford branch
|
US90261AAB89
|
17.08.12
|
USD 2,000
|
|
3
|
UBS AG, Switzerland
|
CH0214139930
|
22.05.13
|
USD 1,500
|
|
4
|
UBS AG, Switzerland
|
CH0236733827
|
13.02.14
|
EUR 2,000
|
|
5
|
UBS AG, Switzerland
|
CH0244100266
|
15.05.14
|
USD 2,500
|
|
Total low-trigger
loss-absorbing tier 2 capital⁵
|
|
|
|
|
1
|
UBS AG, Switzerland, New York branch
|
US870836AC77
|
21.07.95
|
USD 251
|
|
2
|
UBS AG, Switzerland, Jersey branch
|
XS0062270581
|
18.12.95
|
GBP 61
|
|
3
|
UBS AG, Switzerland, New York branch
|
US870845AC84
|
03.09.96
|
USD 218
|
|
4
|
UBS AG, Switzerland, New York branch
|
US87083KAM45
|
20.06.97
|
USD 220
|
|
5
|
UBS AG, Switzerland, Jersey branch
|
XS0331313055
|
19.11.07
|
GBP 130
|
|
6
|
UBS AG, Switzerland
|
CH0035789210
|
27.12.07
|
CHF 192
|
|
Total non-Basel
III-compliant tier 2 capital⁴
|
|
|
|
|
Total tier 2 capital
|
|
|
|
|
|
|
|
|
|
|
TLAC-eligible senior
unsecured debt
|
|
|
|
|
1
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAA54
|
24.09.15
|
USD 1,500
|
|
2
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAB38
|
24.09.15
|
USD 2,500
|
|
3
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAC11
|
24.09.15
|
USD 300
|
|
4
|
UBS Group Funding (Jersey) Limited - Jersey
|
CH0302790123
|
16.11.15
|
EUR 1,250
|
|
5
|
UBS Group Funding (Jersey) Limited - Jersey
|
CH0310451841
|
22.02.16
|
CHF 300
|
|
6
|
UBS Group Funding (Jersey) Limited - Jersey
|
CH0310451858
|
22.02.16
|
CHF 150
|
|
7
|
UBS Group Funding (Jersey) Limited - Jersey
|
CH0314209351
|
04.03.16
|
EUR 750
|
|
8
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAD93
|
05.04.16
|
USD 2,000
|
|
9
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAE76
|
05.04.16
|
USD 1,000
|
|
10
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAF42
|
05.04.16
|
USD 2,000
|
|
11
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAG25
|
10.08.16
|
USD 500
|
|
12
|
UBS Group Funding (Jersey) Limited - Jersey
|
US90351DAH08
|
10.08.16
|
USD 2,000
|
|
13
|
UBS Group Funding (Jersey) Limited - Jersey
|
CH0336602930
|
01.09.16
|
EUR 1,250
|
|
14
|
UBS Group Funding (Jersey) Limited - Jersey
|
CH0341440334
|
30.11.16
|
EUR 1,250
|
|
Total TLAC-eligible senior
unsecured debt
|
|
|
|
|
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 31 December 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 of 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 Non-Basel III-compliant tier 1 and tier 2
capital instruments qualify as gone concern instruments. Under the Swiss SRB
rules, these instruments are no longer subject to phase-out. Instruments with
a maturity date are 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. 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 of the Swiss SRB framework until
the earlier of (i) their maturity or first call date or (ii) 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.
|
|
Swiss SRB incl. transitional arrangements (phase-in)
|
Swiss SRB as of 1.1.20 (fully applied)
|
|
|
|
Going concern
|
Gone concern
|
Going concern
|
Gone concern
|
|
|
|
Amount recognized
in regulatory capital
as of 31.12.16
|
Amount eligible for
the gone concern requirement
as of 31.12.16
|
Amount recognized
in regulatory capital
as of 31.12.16
|
Amount eligible for
the gone concern requirement
as of 31.12.16
|
Maturity date
|
Optional call date
|
|
|
|
|
|
|
|
|
463
|
|
463
|
|
Perpetual
|
01.03.20
|
|
1,266
|
|
1,266
|
|
Perpetual
|
19.02.20
|
|
1,598
|
|
1,598
|
|
Perpetual
|
07.08.25
|
|
517
|
|
517
|
|
Perpetual
|
01.03.21
|
|
1,489
|
|
1,489
|
|
Perpetual
|
22.03.21
|
|
1,075
|
|
1,075
|
|
Perpetual
|
10.08.21
|
|
399
|
|
399
|
|
Perpetual
|
01.03.22
|
|
6,809
|
|
6,809
|
|
|
|
|
1,087
|
|
1,087
|
|
Perpetual
|
19.02.22
|
|
1,256
|
|
1,256
|
|
Perpetual
|
19.02.25
|
|
2,342
|
|
2,342
|
|
|
|
|
9,151
|
|
9,151
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
642
|
|
642
|
Perpetual
|
21.12.17
|
|
|
642
|
|
642
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
424
|
|
|
212
|
01.03.18
|
|
|
467
|
|
|
467
|
01.03.19
|
|
|
891
|
|
|
679
|
|
|
|
2,034
|
|
|
2,034
|
22.02.22
|
22.02.17
|
|
1,985
|
|
|
1,985
|
17.08.22
|
|
|
1,515
|
|
|
1,515
|
22.05.23
|
22.05.18
|
|
2,254
|
|
|
2,254
|
12.02.26
|
12.02.21
|
|
2,614
|
|
|
2,614
|
15.05.24
|
|
|
10,402
|
|
|
10,402
|
|
|
|
|
255
|
|
255
|
15.07.25
|
|
|
|
76
|
|
76
|
18.12.25
|
|
|
|
204
|
|
204
|
01.09.26
|
|
|
|
0
|
|
0
|
15.06.17
|
|
|
|
163
|
|
163
|
19.11.24
|
19.11.19
|
|
|
0
|
|
0
|
27.12.17
|
|
|
|
698
|
|
698
|
|
|
|
11,293
|
698
|
|
11,779
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,503
|
|
1,503
|
24.09.20
|
|
|
|
2,524
|
|
2,524
|
24.09.25
|
|
|
|
304
|
|
304
|
24.09.20
|
|
|
|
1,357
|
|
1,357
|
16.11.22
|
|
|
|
299
|
|
299
|
22.02.22
|
|
|
|
148
|
|
148
|
23.02.26
|
|
|
|
799
|
|
799
|
04.03.24
|
|
|
|
1,955
|
|
1,955
|
15.04.21
|
|
|
|
1,008
|
|
1,008
|
14.04.21
|
|
|
|
1,930
|
|
1,930
|
15.04.26
|
|
|
|
508
|
|
508
|
01.02.22
|
|
|
|
1,941
|
|
1,941
|
01.02.22
|
|
|
|
1,285
|
|
1,285
|
01.09.26
|
01.06.26
|
|
|
1,327
|
|
1,327
|
30.11.24
|
30.11.23
|
|
|
16,890
|
|
16,890
|
|
|
|
|
|
|
|
|
|
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 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.
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: January 27, 2017
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