Commentary & Deal Flow

Reoffer: 6NC5: UKT+98bp / 100 / 5.697% 11NC10: MS+112bp / 100 / 4.521%
Benchmark: 6NC5: UKT 0.25% 31-Jul-31 / HR 110% (ISIN: GB00BMGR2809) 11NC10: DBR 3 15-Aug-36 @ 96.82 / B+114.1bp / HR 97%

Tranche 1 (6NC5): Final Books >£2.7bn
Tranche 2 (11NC10): Final Books €6.5bn+

Launched:
6NC5: £1bn @ UKT+98bp - Books >£2.6bn
11NC10: €1.75bn @ MS+112bp - Books >€6.25bn
IPTs: 6NC5: UKT+115a 11NC10: MS+140a

• Issuer: UBS Group AG
• Issuer LEI: 549300SZJ9VS8SGXAN81
• Issuer Rating: A2 (stable) / A- (stable) / A+ (stable) (Moody's / S&P / Fitch)
• Expected Issue Rating: A2 / A- / A+ (Moody's / S&P / Fitch)
• Ranking: Senior Unsecured, Unsubordinated (TLAC)
• Form of Securities: Reg S, Category 2. Uncertificated securities (einfache Wertrechte)
• Size:
  • 6NC5: £1bn
  • 11NC10: €1.75bn
• Maturity Date:
  • 6NC5: 8-Sep-32
  • 11NC10: 8-Sep-37
• Optional Redemption Date:
  • 6NC5: 8-Sep-31
  • 11NC10: 8-Sep-36
• Coupon:
  • 6NC5: 5.697% (annual), Act/Act (ICMA) until Optional Redemption Date. If not redeemed, resets to reset margin + 1yr GBP SONIA MS rate, fixed annually, Act/Act (ICMA)
  • 11NC10: 4.521% FXD Ann Act/Act (ICMA) until Optional Redemption Date. If not redeemed, resets to reset margin + 1yr EUR MS rate, FXD Ann Act/Act (ICMA)
• Reoffer:
  • 6NC5: UKT+98bp / 100 / 5.697%
  • 11NC10: MS+112bp / 100 / 4.521%
• Yield: 5.697% (YTW) (6NC5)
• Benchmark: DBR 3 15-Aug-36 @ 96.82 / B+114.1bp / HR 97% (11NC10)
• Reference Gilt: UKT 0.25% 31-Jul-31 / HR 110% (ISIN: GB00BMGR2809) (6NC5)
• Early Redemption:
  • 6NC5: Issuer Call on the Optional Redemption Date, or anytime upon occurrence of an Ineligibility or Tax Event; at par
  • 11NC10: Issuer Call on the Optional Redemption Date, or anytime upon occurrence of an Ineligibility or Tax Event; at par
• Hedge Deadline:
  • 6NC5: 16:10 UKT
  • 11NC10: 16:20 UKT | 17:20 CET
• Settlement Date: 8-Sep-26 (T+4)
• Denominations:
  • 6NC5: £200,000 + £1,000
  • 11NC10: €200k + €1k
• Listing: SIX Swiss Exchange
• Governing Law: Swiss
• Clearing: SIX SIS, with further clearing through Euroclear/Clearstream
• UK MiFIR / MiFID II Target Market: Manufacturer target market is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) or disclosure document required by the United Kingdom (the "UK") Financial Conduct Authority Product Disclosure Sourcebook has been prepared as not available to retail investors in the European Economic Area (the "EEA") or the UK.
• Sole Global Coordinator and Bookrunners: UBS Investment Bank (B&D)
• Bookrunners: Commerzbank, NORD/LB, Swedbank (11NC10 only)
• Documentation:
  • 6NC5: In accordance with the Issuer's Senior Debt Programme Base Prospectus dated 27-Apr-26 (the "Base Prospectus"), as supplemented by the supplements dated 29-Apr-26, 5-May-26 and 29-Jul-26 (together, the "Prospectus"). SIX Exchange Regulation AG, in its capacity as a review body pursuant to article 52 of the Swiss Financial Services Act of 15-Jun-18, as amended (the "FinSA") (in such capacity, the "Swiss Review Body"), has approved the Base Prospectus as a base prospectus within the meaning of article 45 of the FinSA as of 27-Apr-26. The Pricing Supplement relating to the relevant Notes, which will constitute the final terms within the meaning of article 45(3) of the FinSA, will be filed with the Swiss Review Body and published in accordance with the FinSA. Copies of the Prospectus (including the documents incorporated by reference therein) are, and copies of the Pricing Supplements relating to the Notes will be, available from the Issuer at UBS AG, Investment Bank, Swiss Prospectus Switzerland, P.O. Box, 8098 Zurich, Switzerland (voicemail: +41 44 239 47 03; fax: +41 44 239 69 14; email: swissprospectus@ubs.com). Capitalised terms used and not defined herein have the meanings given to them in the Prospectus and/or the relevant Pricing Supplement.
  • 11NC10: In accordance with the Issuer's Senior Debt Programme Base Prospectus dated 27-Apr-26 (the "Base Prospectus"), as supplemented by the supplements dated 29-Apr-26, 5-May-26 and 29-Jul-26 (together, the "Prospectus"). SIX Exchange Regulation AG, in its capacity as a review body pursuant to article 52 of the Swiss Financial Services Act of 15-Jun-18, as amended (the "FinSA") (in such capacity, the "Swiss Review Body"), has approved the Base Prospectus as a base prospectus within the meaning of article 45 of the FinSA as of 27-Apr-26. The Pricing Supplement relating to the relevant Notes, which will constitute the final terms within the meaning of article 45(3) of the FinSA, will be filed with the Swiss Review Body and published in accordance with the FinSA. Copies of the Prospectus (including the documents incorporated by reference therein) are, and copies of the Pricing Supplements relating to the Notes will be, available from the Issuer at UBS AG, Investment Bank, Swiss Prospectus Switzerland, P.O. Box, 8098 Zurich, Switzerland (voicemail: +41 44 239 47 03; fax: +41 44 239 69 14; email: swissprospectus@ubs.com). Capitalised terms used and not defined herein have the meanings given to them in the Prospectus and/or the relevant Pricing Supplement.
• Schedule: Books open, pricing today
• Books Subject: 12:30 UKT
• Timing: PRICED. ToE 16:49 UKT | 17:49 CET
• FTT: 07:30 UKT 03-Sep-26 | 08:30 CET 03-Sep-26
• ISIN:
  • 6NC5: CH1598620024
  • 11NC10: CH1598620016