Legal DealFolio - UBS AG Tier 2 Subordinated Notes Offering

Davis Polk advised UBS Securities LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, RBS Securities Inc. and Wells Fargo Securities, LLC as joint bookrunners on a Section 3(a)(2) exempt offering by UBS AG, acting through its Stamford branch, of $2 billion aggregate principal amount of 7.625% tier 2 subordinated notes due 2022. The notes are subject to a contingent low-trigger write-down resulting in the full write-down of principal amount. The notes represent the first Basel III-compliant contingent capital to be offered in the United States. The Davis Polk corporate team included partner Jeffrey M. Oakes and associates Shane Tintle and Bin Hu. The tax team included partner John D. Paton, associate Adam B. Perry and law clerk Tracy L. Matlock. Partner Luigi L. De Ghenghi provided financial institutions advice. Partner Simon Witty provided English law advice. Members of the Davis Polk team are based in the London and New York offices.

Deal Date:	17-08-2012	Practice Area:	Debt Capital Markets
Deal Title:	UBS AG Tier 2 Subordinated Notes Offering	Industry:	Banks
Description:	Davis Polk advised UBS Securities LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, RBS Securities Inc. and Wells Fargo Securities, LLC as joint bookrunners on a Section 3(a)(2) exempt offering by UBS AG, acting through its Stamford branch, of $2 billion aggregate principal amount of 7.625% tier 2 subordinated notes due 2022. The notes are subject to a contingent low-trigger write-down resulting in the full write-down of principal amount. The notes represent the first Basel III-compliant contingent capital to be offered in the United States. The Davis Polk corporate team included partner Jeffrey M. Oakes and associates Shane Tintle and Bin Hu. The tax team included partner John D. Paton, associate Adam B. Perry and law clerk Tracy L. Matlock. Partner Luigi L. De Ghenghi provided financial institutions advice. Partner Simon Witty provided English law advice. Members of the Davis Polk team are based in the London and New York offices.
Financial Center:	London	Value:	1000.01-5000.00
Advised Party:	Lead Manager	Law Firm	Davis Polk
Issuer Jurisdiction	Switzerland	Listing Jurisdiction	United Kingdom
Classification:	Corporate Bonds Subordinated Debt	Lawyer	Jeffrey M Oakes

Practice Areas -

Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers