6-K 1 newsrelease6k20250505.htm newsrelease6k20250505
 
 
 
 
 
 
 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE
 
ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: May 5, 2025
UBS Group AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
(Address of principal executive office)
Commission File Number: 1-36764
UBS AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
Aeschenvorstadt 1, 4051 Basel, Switzerland
 
(Address of principal executive offices)
Commission File Number: 1-15060
 
Indicate by check mark whether the registrants file or will file annual
 
reports under cover of Form
20-F or Form 40-
F.
Form 20-F
 
☒
 
Form 40-F
 
☐
 
This Form 6-K consists of the news release, which appears immediately
 
following this page.
newsrelease6k20250505p3i0
Media Relations
Tel. +41-44-234 85 00
Investor Relations
Tel. +41-44-234 41 00
UBS Group AG and UBS AG, News release, 5 May
 
2025
 
Page 1
5 May 2025
News release
Ad hoc announcement pursuant to article 53 of the SIX Exchange Regulation Listing Rules
Credit Suisse Services AG Resolves Tax
 
Matter with DOJ, Will Pay USD 511m
On 5 May 2025, Credit Suisse Services AG entered into an agreement with the United States
Department of Justice (DOJ) to settle a long-running tax-related investigation into Credit Suisse’s
implementation of its 2014 plea agreement, relating to its legacy cross-border business with US
taxpayers booked in Switzerland, which began before UBS acquired Credit Suisse. Credit Suisse Services
AG pleaded guilty to one count of conspiracy to aid and assist in the preparation
 
of false income tax
returns and will pay an aggregate of USD 371.9m. Credit Suisse Services AG also contemporaneously
entered into a non-prosecution agreement regarding US taxpayers booked in the legacy Credit Suisse
Singapore booking center and will pay an aggregate of USD 138.7m.
UBS was not involved in the underlying conduct and has zero tolerance for tax evasion.
With this resolution, UBS is pleased to have resolved another of Credit Suisse's legacy issues,
 
in line with
UBS’s intention to resolve legacy matters at pace in a fair and balanced way
 
and in the best interest of all
its stakeholders.
In the second quarter of 2025, UBS Group AG expects to recognize a credit from the partial release of
the contingent liability established with the acquisition of Credit Suisse as part of
 
the purchase price
allocation process. UBS AG expects to record a charge in the second quarter in relation to this resolution.
Media contact
Switzerland:
 
+41-44-234 85 00
UK:
 
+44-207-567 47 14
Americas:
 
+1-212-882 58 58
APAC:
 
+852-297-1 82 00
Investor contact
Switzerland
 
+41 44 234 41 00
Americas
 
+1 212 882 57 34
www.ubs.com/media
This media release contains statements that constitute “forward-looking statements”, including but not limited to
management’s outlook for UBS’s financial performance, statements relating to the anticipated effect of transactions and
strategic initiatives on UBS’s business and future development and goals or intentions to achieve climate, sustainability and other
social objectives. While these forward-looking statements represent UBS’s judgments, expectations and objectives concerning the
matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to
differ materially from UBS’s expectations. UBS’s business and financial performance could be affected by other factors identified
in our past and future filings and reports, including those filed with the SEC. More detailed information about those factors is set
forth in documents furnished by UBS and filings made by UBS with the SEC, including the Risk Factors included in the Annual
Report of UBS Group AG report for 2024 filed on Form 20-F.
 
UBS is not under any obligation to (and expressly disclaims any
obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or
otherwise.
 
This
 
Form
 
6-K
 
is
 
hereby
 
incorporated
 
by
 
reference
 
into
 
(1)
 
each
 
of
 
the
 
registration
 
statements
 
on
 
Form
 
F-3
(Registration
 
Number
 
333-283672),
 
and
 
on
 
Form
 
S-8
 
(Registration
 
Numbers
 
333-200634;
 
333-200635;
 
333-
200641; 333-200665;
 
333-215254; 333-215255;
 
333-228653; 333-230312;
 
333-249143 and
 
333-272975), and
 
into
each
 
prospectus
 
outstanding
 
under
 
any
 
of
 
the
 
foregoing
 
registration
 
statements,
 
(2)
 
any
 
outstanding
 
offering
circular or
 
similar document
 
issued or
 
authorized by
 
UBS AG
 
that incorporates
 
by reference
 
any Forms
 
6-K of
UBS AG that
 
are incorporated into
 
its registration
 
statements filed with
 
the SEC,
 
and (3)
 
the base
 
prospectus of
Corporate Asset
 
Backed Corporation
 
(“CABCO”) dated
 
June
 
23,
 
2004 (Registration
 
Number 333-111572),
 
the
Form
 
8-K
 
of
 
CABCO
 
filed
 
and
 
dated
 
June
 
23,
 
2004
 
(SEC
 
File
 
Number
 
001-13444),
 
and
 
the
 
Prospectus
Supplements relating to the
 
CABCO Series 2004-101 Trust
 
dated May 10, 2004
 
and May 17,
 
2004 (Registration
Number 033-91744 and 033-91744-05).
 
 
 
 
 
SIGNATURES
Pursuant to the requirements
 
of the Securities Exchange
 
Act of 1934, the
 
registrants have duly caused this
 
report
to be signed on their behalf by the undersigned, thereunto duly authorized.
UBS Group AG
 
By: _/s/ David Kelly______________
Name:
 
David Kelly
Title:
 
Managing Director
By: _/s/ Ella Copetti-Campi_________
Name:
 
Ella Copetti-Campi
Title:
 
Executive Director
 
UBS AG
By: _/s/ David Kelly______________
Name:
 
David Kelly
 
Title:
 
Managing Director
By: _/s/ Ella Copetti-Campi________
Name:
 
Ella Copetti-Campi
Title:
 
Executive Director
Date:
 
May 5, 2025