UBS Preferred Funding Trust IV Issues Notice of Redemption
May 10 2016 - 4:29PM
Business Wire
UBS today has issued a notice of redemption to the holders of
Floating Rate Noncumulative Trust Preferred Securities (the
“Securities”) of UBS Preferred Funding
Trust IV (the “Trust”),
representing a corresponding amount of Floating Rate Noncumulative
Company Preferred Securities (the “Preferred
Securities”) of UBS Preferred Funding Company LLC IV (the
“Company”).
Pursuant to the provisions of Section 5.02 of the Amended and
Restated Trust Agreement of the UBS Preferred Funding
Trust IV, dated as of May 23, 2003 (the “Trust Agreement”), Wilmington Trust Company will
redeem from the holders all outstanding Securities, representing
$300,000,000 aggregate liquidation preference, on June 15, 2016
(the “Redemption Date), upon the
redemption of the Preferred Securities in accordance with the
Company's Amended and Restated Limited Liability Company Agreement
(the “LLC Agreement”).
The Securities will be redeemed for the same amount in cash as
the redemption price of the Preferred Securities, which will equal
to the sum of:
(i) 100% of the liquidation preference of the
Preferred Securities being redeemed; (ii) an amount equal to unpaid
dividends, if any, on the Preferred Securities with respect to the
current Dividend Period (whether or not declared) accrued on a
daily basis to the Redemption Date; and (iii)
an amount equal to unpaid Definitive
Dividends on the Preferred Securities for any prior Dividend
Period, without interest and without accumulation of unpaid
Non-definitive Dividends on the Preferred Securities for any prior
Dividend Period (in each case as defined in and calculated in
accordance with the LLC Agreement) (the “Redemption Price”). The Company shall pay the
Redemption Price received upon redemption of the Preferred
Securities to the Paying Agent for distribution to the holders of
the Securities in accordance with the terms of the Trust
Agreement.
Payment on the Securities will be made upon surrender of the
Securities to the Paying Agent, Michael H. Wass at Wilmington Trust
Company. The Securities called for redemption must be surrendered
to the Paying Agent to collect the Redemption Price.
Upon redemption, the Securities will be canceled and interest on
the Securities will cease to accrue on and after the Redemption
Date. Capitalized terms used herein but not otherwise defined
herein shall have the meanings assigned thereto in the Trust
Agreement or the LLC Agreement, as applicable.
Amounts may be deducted and withheld from the Redemption Price
as required by U.S. federal tax law. When presenting Securities,
investors must provide the applicable withholding agent with a
properly completed and executed IRS Form W-9 or applicable IRS
Forms W-8, as the case may be.
About UBS
UBS is committed to providing wealthy, institutional and
corporate clients worldwide, as well as private clients in
Switzerland, with superior financial advice and solutions while
generating attractive and sustainable returns for shareholders. Its
strategy centers on its Wealth Management and Wealth Management
Americas businesses and its leading universal bank in Switzerland,
complemented by its Asset Management business and its Investment
Bank. These businesses share three key characteristics: they
benefit from a strong competitive position in their targeted
markets, are capital-efficient, and offer a superior structural
growth and profitability outlook. UBS's strategy builds on the
strengths of all of its businesses and focuses its efforts on areas
in which it excels, while seeking to capitalize on the compelling
growth prospects in the businesses and regions in which it
operates. Capital strength is the foundation of its success.
UBS is present in all major financial centers worldwide. It has
offices in more than 50 countries, with about 35% of its employees
working in the Americas, 36% in Switzerland, 17% in the rest of
Europe, the Middle East and Africa and 12% in Asia Pacific. UBS
Group AG employs about 60,000 people around the world. Its shares
are listed on the SIX Swiss Exchange and the New York Stock
Exchange (NYSE).
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version on businesswire.com: http://www.businesswire.com/news/home/20160510006899/en/
Media:UBSGregg Rosenberg,
+1-212-713-8842Gregg.rosenberg@ubs.com
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