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Name | Symbol | Market | Type |
---|---|---|---|
UBS AG FI Enhanced Large Cap Growth | AMEX:FBGX | AMEX | Bond |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 943.29 | 0 | 01:00:00 |
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: August 20, 2024
Commission File Number: 001-15060
UBS AG
(Name of Registrant)
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.
Form 20-F ☒ Form 40-F ☐
This report on Form 6-K shall be deemed to be incorporated by reference into the registration statement of UBS AG on Form F-3 (File No. 333-263376) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
This
Form 6-K consists of an Opinion of Ashurst LLP, special counsel to UBS AG which appears as an exhibit hereto and is incorporated into
this Form 6-K as if set forth in full herein. The Opinion of Ashurst LLP is filed herewith as an exhibit to the Registration Statement
of UBS AG on Form F-3 filed on March 9, 2022, as amended from time to time (File No. 333-263376). 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. EXHIBIT
INDEX Exhibit
5.7 Opinion
of Ashurst LLP [LETTERHEAD
OF ASHURST LLP] Date:
August 20, 2024 UBS
AG Bahnhofstrasse
45 CH-8098
Zurich Switzerland Ladies
and Gentlemen: We
have acted as special counsel to UBS AG (the “Company”) in connection with the proposed sale by the Company and purchase
by UBS Securities LLC (the “Underwriter”) of (i) UBS AG $255,000 Knock-Out Put Warrants with Daily Close Monitoring
Linked to the S&P 500® Index expiring December 27, 2024 and (ii) UBS AG $230,000 Knock-Out Put Warrants with Daily
Close Monitoring Linked to the Nasdaq-100 Index® expiring December 27, 2024 being issued on the date hereof (together,
the “Securities”), pursuant to the terms of the Amended and Restated Distribution Agreement, as may be amended, supplemented
or restated from time to time, dated June 12, 2015, among the Company, UBS Securities LLC and UBS Financial Services Inc., to which the
Underwriter became a party thereunder on the terms and conditions set forth in the accession letter dated June 15, 2015, as may be amended,
supplemented or restated from time to time (together, the “Agreement”). The Securities are being issued pursuant to
the Warrant Indenture, as may be amended, supplemented or restated from time to time, dated as of June 12, 2015 (the “Indenture”),
between the Company and U.S. Bank Trust National Association. In
rendering the opinions set forth below, we have examined and relied upon the originals, copies or specimens, certified or otherwise identified
to our satisfaction, of the Transaction Documents (as defined below) and such certificates, corporate and public records, agreements
and instruments and other documents, including, among other things, the documents delivered on the date hereof, as we have deemed appropriate
as a basis for the opinion expressed below. In such examination, we have assumed the genuineness of all signatures, the authenticity of
all documents, agreements and instruments submitted to us as originals, the conformity to original documents, agreements and instruments
of all documents, agreements and instruments submitted to us as copies or specimens, the authenticity of the originals of such documents,
agreements and instruments submitted to us as copies or specimens, the conformity of the text of each document filed with the Securities
and Exchange Commission (the “Commission”) through the Commission’s Electronic Data Gathering, Analysis and
Retrieval System to the printed document reviewed by us, the accuracy of the matters set forth in the documents, agreements and instruments
we reviewed, and that such documents, agreements and instruments evidence the entire understanding between the parties and have not been
amended, modified or supplemented in any manner material to the opinions expressed herein. As to matters of fact relevant to the opinions
expressed herein, we have relied upon, and assumed the accuracy of, the representations and warranties contained in the Agreement and
the Indenture and we have relied upon certificates and oral or written statements and other information obtained from the Company, the
other parties to the transactions referenced herein, and public officials. Except as expressly set forth herein, we have not undertaken
any independent investigation (including, without limitation, conducting any review, search or investigation of any public files, records
or dockets) to determine the existence or absence of the facts that are material to our opinions, and no inference as to our knowledge
concerning such facts should be drawn from our reliance on the representations of the Company and others in connection with the preparation
and delivery of this letter. In
particular, we have examined and relied upon: (a) the Company’s Registration Statement on Form F-3 (File No. 333-263376) (the “Registration
Statement”), including the Prospectus dated May 27, 2022, the Index Supplement dated May 27, 2022 and the applicable Final
Prospectus Supplement dated August 15, 2024 relating to the Securities, (b) the Indenture, (c) the applicable Warrant Certificate dated
as of the date hereof representing the Securities, (d) UBS AG Group Treasurer and Group Chief Financial Officer Resolutions dated January
26, 2022 as amended by the Resolutions of the UBS AG Group Treasurer dated August 31, 2023, related to the Company’s warrant program
and (e) the Officers’ Certificate dated June 12, 2015, delivered pursuant to Section 301 of the Indenture related to the establishment
of a series of warrants of the Company entitled “Universal Warrants”. Items
(a) to (e) above are referred to in this letter as the “Transaction Documents”. We
have also assumed (x) the legal capacity of all natural persons and (y) (except to the extent expressly opined on herein) that all documents,
agreements and instruments have been duly authorized, executed and delivered by all parties thereto, that all such parties are validly
existing and in good standing under the laws of their respective jurisdictions of organization, that all such parties had the power and
legal right to execute and deliver all such documents, agreements and instruments, and that such documents, agreements and instruments
are legal, valid and binding obligations of such parties, enforceable against such parties in accordance with their respective terms.
Insofar as this opinion involves matters governed by Swiss law, we assumed, without independent inquiry or investigation, the validity
of the matters opined on by Homburger AG, Swiss legal counsel for the Company, in its opinion dated August 13, 2024 filed on that date
with the Commission via Form 6-K with the Commission as Exhibit 5.3 to the Registration Statement. As used herein, “to our knowledge”, “known to us” or words of similar import mean the actual knowledge, without independent investigation, of any lawyer in our
firm actively involved in representing the Company with respect to the transactions contemplated by the Agreement. We
express no opinion concerning the laws of any jurisdiction other than the laws of the State of New York and applicable federal laws of
the United States of America. Based
upon and subject to the foregoing, we are of the opinion that assuming the Securities have been duly authorized and executed by the Company
and duly authenticated and delivered by the Trustee in the manner contemplated in the Indenture and paid for by and sold to the Underwriter
pursuant to the Agreement, the Securities will be valid and binding obligations of the Company, enforceable against the Company in accordance
with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, receivership or other
laws relating to or affecting creditors’ rights generally, and to general principles of equity (regardless of whether enforcement
is sought in a proceeding at law or in equity), and subject to the effect of laws that may limit the waiver of rights or benefits under
or defenses with respect to applicable usury laws. As
special counsel, we hereby consent to the filing of this letter as an exhibit to a Current Report on Form 6-K to be incorporated
by reference in the Registration Statement as it relates to the Securities and, as special counsel, we hereby consent to the reference
to Ashurst LLP and the discussion of our opinion set forth under the heading “Validity of the Warrants.” This consent is
not to be construed as an admission that we are a person whose consent is required to be filed with the Registration Statement under
the provisions of the Securities Act of 1933, as amended. In
addition, we disclaim any obligation to update this letter or communicate with or advise you as to any changes in fact or law, or otherwise. Very
truly yours, /s/
Ashurst LLP Ashurst
LLP
Date:
August 20, 2024
UBS AG
By:
/s/
Timothy Geller
Name:
Timothy
Geller
Title:
Executive
Director
By:
/s/
Chris Cook
Name:
Chris
Cook
Title:
Managing
Director
Exhibit
Description
of Exhibit
5.7
Opinion
of Ashurst LLP, as special products counsel to UBS AG
23.11
Consent of Ashurst LLP (included in Exhibit 5.7 herein)
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