UBS Matures Ten ETN Lines as Bern Weighs Softer Capital Yardstick
Published on 11/14/2026 at 13:21 | Editorial boerse-global.de
UBS has set the wind-down machinery in motion for ten of its ETRACS exchange-traded note series, with settlement of all outstanding securities scheduled for 17 and 18 December. The bank flagged the redemption on Thursday, though holders of one line will have to wait a little longer for paperwork: formal notice for BDCZ is not due until 24 November, leaving the announced communication outstanding ahead of its settlement date.
The redemption notice came alongside a separate filing with the US Securities and Exchange Commission. UBS lodged a Form 6-K report with the regulator, an update tied to its F-3 registration statement that supersedes the version dated 9 July.
Capital Relief Hangs on Commission Talks
Closer to home, the lender's capital arithmetic could be in for a rethink. A proposal that surfaced in the large chamber of the Swiss parliament in early November would, according to media reports, let UBS apply more conservative valuation methods when calculating the additional equity it must hold against foreign subsidiaries. The upshot could be a reduction in the roughly USD 16 billion in extra capital the bank has pencilled in — though both the scale of any relief and whether it survives the process remain open. The responsible commission is set to take up the matter on 23 and 24 November.
The broader package of Swiss equity capital rules now heads to the National Council, which is expected to debate it during the winter session.
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Property Fund Fills Its Coffers
On the fundraising front, UBS Fund Management (Switzerland) AG confirmed that the capital increase for the UBS (CH) Property Fund – Direct Mixed Urban, closed on 4 November, was fully subscribed. The vehicle took in roughly CHF 183 million in fresh money.
Investors looking for the next set of hard numbers will have a wait: UBS Group AG has slated its fourth-quarter 2026 results for 3 February 2027.
A Landlord's Change of Heart in Zurich
Meanwhile, the Norwegian sovereign wealth fund has launched a fresh sales process for the Üetlihof in Zurich, a complex where UBS is the long-term tenant. People familiar with the matter told the NZZ that a deal is being targeted before year-end, with both buyer and price still up in the air. UBS's lease at the site runs until 2037, and the bank has described the Üetlihof as an important location.
UBS at a turning point? This analysis reveals what investors need to know now.
Advisor Switch in Connecticut
In wealth management, UBS Wealth Management USA picked up a new recruit on Wednesday: Kelley Hart joined the firm as a financial advisor based in Westport, Connecticut.
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