On 6 October 2023 UBS Switzerland Ltd has established a CHF 20 billion program for the issuance of Covered Bonds issued by UBS Switzerland Ltd and guaranteed by UBS Hypotheken Schweiz Ltd. The Covered Bonds issued under the program will be indirectly backed by a portfolio of mortgages from UBS Switzerland Ltd’s domestic mortgage pool.

On 18 October 2023, UBS Switzerland Ltd successfully closed its inaugural issuance of Covered Bonds under the program in an aggregate principal amount of CHF 820 million, consisting of CHF 350 million Covered Bonds with a coupon of 1.820% due October 2026 and CHF 470 million Covered Bonds with a coupon of 2.035% due October 2033. The Covered Bonds are governed by Swiss law, have been provisionally admitted to trading on SIX Swiss Exchange and application for definitive admission to trading and listing will be made.