The investment-grade offering comprised three tranches

Davis Polk advised the representative of the underwriters in connection with an SEC-registered offering by UBS AG of $1 billion aggregate principal amount of 5.800% fixed-rate senior notes due 2025, $1.5 billion aggregate principal amount of 5.650% fixed-rate senior notes due 2028 and $500 million aggregate principal amount of floating-rate senior notes due 2025.

UBS is a leading and truly global wealth manager with focused asset management and investment banking capabilities, and the leading universal bank in Switzerland. UBS enables people, institutions and corporations to achieve their goals by providing financial advice and solutions.

The Davis Polk corporate team included partner Shane Tintle and associates Tyler X. Senackerib and Joshua Kim. The tax team included partner Corey M. Goodman and associates Charles Collier and Justin Corvino. The U.K. corporate team included partner Dan Hirschovits and European counsel John Taylor. Members of the Davis Polk team are based in the New York and London offices.