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UBS Preferred Funding Trust IV Floating Rate Non-Cum Trust Preferred Securities
Ticker Symbol: UBS-D* CUSIP: 90263W201 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/15/2016
Security has been Called for: Wednesday, June 15, 2016
May 10, 2016 -- UBS today has issued a notice of redemption to the holders of Floating Rate Noncumulative Trust Preferred Securities of UBS Preferred Funding Trust IV, representing a corresponding amount of Floating Rate Noncumulative Company Preferred Securities of UBS Preferred Funding Company LLC IV. Pursuant to the provisions of Section 5.02 of the Amended and Restated Trust Agreement of the UBS Preferred Funding Trust IV, dated as of May 23, 2003, Wilmington Trust Company will redeem from the holders all outstanding Securities, representing $300,000,000 aggregate liquidation preference, on June 15, 2016, upon the redemption of the Preferred Securities in accordance with the Company's Amended and Restated Limited Liability Company Agreement. The Securities will be redeemed for the same amount in cash as the redemption price of the Preferred Securities, which will equal to the sum of:
(i) 100% of the liquidation preference of the Preferred Securities being redeemed;
(ii) an amount equal to unpaid dividends, if any, on the Preferred Securities with respect to the current Dividend Period (whether or not declared) accrued on a daily basis to the Redemption Date; and
(iii)an amount equal to unpaid Definitive Dividends on the Preferred Securities for any prior Dividend Period, without interest and without accumulation of unpaid Non-definitive Dividends on the Preferred Securities for any prior Dividend Period (in each case as defined in and calculated in accordance with the LLC Agreement) (the “Redemption Price”). The Company shall pay the Redemption Price received upon redemption of the Preferred Securities to the Paying Agent for distribution to the holders of the Securities in accordance with the terms of the Trust Agreement.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: UBS Preferred Funding Trust IV, Floating Rate Noncumulative Trust Preferred Securities, representing at corresponding amount of securities of UBS Preferred Funding Company LLC IV, guaranteed by UBS AG (NYSE: UBS) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), liquidation preference $25 per share, redeemable at the issuer's option on or after 6/15/2008 at $25 per share plus declared and unpaid dividends, with no stated maturity, and with noncumulative floating rate distributions paid monthly on the 15th day of each month to holders of record on the first day of the month in which the payment is due. The floating rate will be equal to 0.70% above the one-month LIBOR per annum and reset each month. Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders. The trust's assets consist of the Floating Rate Perpetual Subordinated Deferrable Interest Note which was purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (UBS)
IPO - 5/22/2003 - 12.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $300.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: Bahnhofstrasse 45, Zurich, Switzerland |
| Main Phone Number |
+41-1-234-41-00 |
| Fax Number |
+41-1-234-34-15 |
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Inv Rel Phone Number
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+41-1-234-4360 |
| Address and Phone Numbers |
| U.S. Representative |
UBS New York |
| Address: 1285 Avenue of the Americas, New York, NY 10019 |
| Main Phone Number |
212-821-3000 |
| Fax Number |
212-713-1381 |
| Investor Contact
David P. Walker
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212-713-6142
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Toll Free Phone Number |
Unknown |
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