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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 31, 2018

 

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 offices)

 

Indicate by check mark whether the registrants file or will file annual reports under cover of Form 20‑F or Form 40-F.

 

 

Form 20-F                       Form 40-F 

 

 

 

 


UBS AG produces regular annual and quarterly reports, which are submitted to the SEC under Forms 20-F and 6-K, respectively. These reports are prepared in accordance with International Financial Reporting Standards (IFRS). SEC regulations require certain additional disclosures to be included in registration statements relating to offerings of securities. Certain of this additional disclosure follows herein, and should be read in conjunction with the annual report on Form 20-F for the year ended 31 December 2017 of UBS Group AG and UBS AG, filed with the SEC on 9 March 2018, as well as UBS AG's first quarter 2018 report, submitted to the SEC on Form 6-K on 27 April 2018, UBS AG's second quarter 2018 report, submitted to the SEC on Form 6-K on 27 July 2018, and UBS AG's third quarter 2018 report, submitted to the SEC on Form 6-K on 31 October 2018.

 

  



 

Capitalization of UBS AG

 

The following table presents the consolidated capitalization of UBS AG in accordance with IFRS in Swiss francs, the presentation currency of UBS AG, and translated into US dollars.

 

 

 

As of

 

 

30.9.18

 

30.6.18

in million

 

CHF

USD

 

CHF

USD

Debt:

 

 

 

 

 

 

Short term debt issued¹

 

75,928

77,371

 

69,906

70,524

Long term debt issued²

 

81,715

83,268

 

85,873

86,631

Total debt issued

 

157,643

160,639

 

155,779

157,155

Equity attributable to UBS AG shareholders

 

50,136

51,089

 

49,961

50,403

Equity attributable to non-controlling interests

 

38

39

 

60

61

Total capitalization

 

207,817

211,766

 

205,800

207,618

1 Short-term debt issued is comprised of debt issued measured at amortized cost and debt issued designated at fair value by UBS AG and its subsidiaries with a remaining contractual maturity of less than one year without considering any early redemption features.    2 Long-term debt issued is comprised of debt issued measured at amortized cost and debt issued designated at fair value by UBS AG and its subsidiaries with a remaining contractual maturity of more than one year without considering any early redemption features.

 

Swiss franc (CHF) amounts as of 30 September 2018 have been translated into US dollars (USD) at the rate of CHF 1 = USD 1.01900 (the exchange rate in effect as of 30 September 2018), and CHF amounts as of 30 June 2018 have been translated into USD at the rate of CHF 1 = USD 1.00884 (the exchange rate in effect as of 30 June 2018).


Ratio of Earnings to Fixed Charges of UBS AG

 

The following table sets forth UBS AG’s ratio of earnings to fixed charges on an IFRS basis for the periods indicated. The ratios are calculated based on earnings from continuing operations.

 

 

 

For the quarter ended

 

For the year ended

CHF million, except for ratio

 

30.9.18

 

31.12.17

 

31.12.16

 

31.12.15¹

 

31.12.14

 

31.12.13

Pre-tax earnings from continuing operations

 

1,528

 

4,977

 

4,009

 

5,349

 

2,424

 

3,287

Add: Fixed charges

 

2,651

 

7,865

 

7,998

 

7,153

 

7,293

 

8,030

Pre-tax earnings before fixed charges

 

4,180

 

12,842

 

12,007

 

12,502

 

9,717

 

11,317

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

     Interest expense

 

2,620

 

7,728

 

7,399

 

6,550

 

6,639

 

7,351

     Other²

 

32

 

137

 

599

 

603

 

653

 

679

Total fixed charges

 

2,651

 

7,865

 

7,998

 

7,153

 

7,293

 

8,030

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges³

 

1.58

 

1.63

 

1.50

 

 1.75 

 

 1.33 

 

 1.41 

1 Upon adoption of the amendments to IAS 1 on 1 January 2018, UBS AG presents interest income and expense from financial instruments measured at amortized cost and fair value through other comprehensive income separately from interest income and expense from financial instruments measured at fair value through profit or loss. Prior periods were amended for this change in presentation. As a consequence, interest expense for the year ended 31 December 2015 increased by CHF 101 million, which resulted in a reduction of the ratio of earnings to fixed charges from 1.76 to 1.75. All other periods presented were not affected by this change in presentation.   2 Other fixed charges relate to the estimated interest component of rental expense.    3 UBS AG redeemed its last outstanding preferred notes in December 2017. A ratio of earnings to combined fixed charges and preference security dividends was not presented for periods prior to 2018 as there were no mandatory preferred share dividends in these periods. Accordingly, the ratio would have equaled the ratio of earnings to fixed charges.


This Form 6-K is hereby incorporated by reference into (1) each of the registration statements of UBS AG on Form F-3 (Registration Number 333-225551) and of UBS Group AG on Form S-8 (Registration Numbers 333-200634; 333-200635; 333-200641; 333-200665; 333-215254; and 333-215255) and into each prospectus outstanding under any of the foregoing registration statements, (2) any outstanding offering circular or similar document issued or authorized by UBS AG that incorporates by reference any Form 6-K’s of UBS AG that are incorporated into its registration statements filed with the SEC, and (3) the base prospectus of Corporate Asset Backed Corporation (“CABCO”) dated June 23, 2004 (Registration Number 333-111572), the Form 8-K of CABCO filed and dated June 23, 2004 (SEC File Number 001-13444), and the Prospectus Supplements relating to the CABCO Series 2004-101 Trust dated May 10, 2004 and May 17, 2004 (Registration Number 033-91744 and 033-91744-05).


SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.

 

 

UBS Group AG

 

 

 

By: _/s/ David Kelly_____________

Name:  David Kelly

Title:     Managing Director

 

 

 

By: _/s/ Ella Campi _____________

Name:  Ella Campi

      Title:    Executive Director

 

 

UBS AG

 

 

 

By: _/s/ David Kelly_____________

Name:  David Kelly

Title:     Managing Director

 

 

 

By: _/s/ Ella Campi _____________

Name:  Ella Campi

      Title:    Executive Director

 

 

 

 

Date:  October 31, 2018