UBS Launches Cash Tender Offers to Buy Back Up to $6 Billion in Notes

UBS Group AG (NYSE: UBS) announced on September 2, 2026 that it is commencing nine concurrent and separate offers to purchase a series of outstanding notes, on the terms set out in an offer to purchase dated the same day.

The notes were originally issued by Credit Suisse Group AG, which merged into UBS Group AG on June 12, 2023. By operation of law, UBS assumed Credit Suisse's obligations as issuer under each series of notes. The offers cover instruments including 7.375% Fixed Rate Reset Senior Callable Notes due 2033, 9.016% Fixed Rate/Floating Rate Senior Callable Notes due 2033 and 7.750% Fixed Rate Reset Senior Callable Notes due 2029, among others.

UBS said the offers form part of its proactive management of funding and total loss-absorbing capacity, aimed at optimizing interest expense. Assuming all outstanding Any and All Notes are tendered and accepted, the aggregate total consideration is expected to be around $6 billion, while the Maximum Purchase Consideration for the Maximum Purchase Offers is capped at $2 billion. The offers are not subject to a minimum tender amount or a financing condition.

The offers are scheduled to expire at 5:00 p.m. Eastern time on September 10, 2026, unless extended or earlier terminated, with the same deadline for valid withdrawals. Settlement is expected to be the second business day after the expiration date, on or around September 14, 2026. Holders whose notes are accepted will also receive accrued and unpaid interest in cash. Separately from the offers, UBS said it intends to continue issuing senior unsecured liabilities across major currency markets.