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: July 29, 2014

Commission File Number: 1-15060

 

 

UBS AG

(Registrant’s Name)

 

 

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  x             Form 40-F  ¨

 

 

 


UBS AG (“UBS”) produces regular quarterly reports, which are submitted to the SEC under Form 6-K. 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 UBS’ annual report on Form 20-F for the year ended 31 December 2013, filed with the SEC on 14 March 2014, as well as UBS’s first quarter 2014 report and second quarter report, submitted to the SEC on Forms 6-K on 6 May 2014 and 29 July 2014, respectively.

Capitalization of UBS

The following table presents the consolidated capitalization of UBS in accordance with International Financial Reporting Standards (IFRS) and translated into US dollars.

Capitalization of UBS

 

     As of  
     30.6.14      31.3.14  

in million

   CHF      USD      CHF      USD  

Debt

           

Short term debt issued 1

     47,687         53,775         44,468         50,305   

Long term debt issued 2

     93,272         105,181         91,793         103,840   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total debt issued

     140,959         158,956         136,261         154,145   
  

 

 

    

 

 

    

 

 

    

 

 

 

Equity attributable to UBS shareholders

     49,532         55,856         49,023         55,457   

Equity attributable to preferred note holders

     1,879         2,119         1,877         2,124   

Equity attributable to non-controlling interests

     39         44         36         41   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total capitalization

     192,409         216,975         187,197         211,767   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

1 Short-term debt issued is comprised of debt issued (held at amortized cost) and financial liabilities designated at fair value issued by UBS with a remaining maturity of less than one year.
2 Long-term debt issued is comprised of debt issued (held at amortized cost) and financial liabilities designated at fair value issued by UBS with a remaining maturity of more than one year.

Swiss franc (CHF) amounts as of 30 June 2014 have been translated into U.S. dollars (USD) at the rate of CHF 1 = USD 1.12768 (the exchange rate in effect as of 30 June 2014), and CHF amounts as of 31 March 2014 have been translated into U.S. dollars (USD) at the rate of CHF 1 = USD 1.13125 (the exchange rate in effect as of 31 March 2014).


Ratio of Earnings to Fixed Charges

The following table sets forth UBS’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. Ratios of earnings to fixed charges and preferred share dividends are not presented as there were no mandatory preferred share dividends in any of the periods indicated.

 

     For the
quarter ended
     For the year ended  

CHF million, except for ratio

   30.6.14      31.12.13      31.12.12     31.12.11      31.12.10      31.12.09  

Pre-tax earnings from continuing operations

     1,220         3,287         (1,851     5,025         6,983         (3,138

Add: Fixed charges

     2,253         8,030         10,688        11,831         13,471         17,939   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Pre-tax earnings before fixed charges

     3,473         11,317         8,836        16,856         20,454         14,801   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Fixed charges:

                

Interest expense

     2,095         7,351         9,990        11,143         12,657         17,016   

Other1

     158         679         698        688         814         923   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Total fixed charges

     2,253         8,030         10,688        11,831         13,471         17,939   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Ratio of earnings to fixed charges2

     1.54         1.41         0.83        1.42         1.52         0.83   

 

1 Other fixed charges relate to the interest component of rental expense.
2 A ratio of earnings to combined fixed charges and preference security dividend requirements is not presented as it equals 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 333-178960) and Form S-8 (Registration Numbers 333-49210; 333-49212; 333-127183; 333-127184; 333-162798; 333-162799; 333-162800; 333-178539; 333-178540; 333-178541; and 333-178543) 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 registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

UBS AG
By:  

/s/ David Kelly

  Name: David Kelly
  Title: Managing Director
By:  

/s/ Sarah M. Starkweather

  Name: Sarah M. Starkweather
  Title: Executive Director

Date: July 29, 2014