UBS Limited UBI Pre-Stabilisation Notice

  UBS Limited - UBI Pre-Stabilisation Notice

RNS Number : 2963P
UBS Limited
23 October 2012




Pre-Stabilisation Announcement

The following is a suggested form of an RIS announcement to satisfy the
requirements of Article 8(4) and 9(1) of Commission Regulation 2273/2003 for
pre-stabilisation announcement. It is not intended as legal advice.



It assumes an offering of (non-convertible) debt securities (without a
greenshoe option) where the securities being offered are to be listed in the
UK and are to be admitted to trading on a 'regulated market' in the UK.



Note:

¨ Additional selling restrictions or legends may be required to
comply with laws applicable to a particular offering of securities.

¨ References to the Co-ordinating Stabilising Manager are to the
manager which is making the announcements for the managers in the syndicate,
if any, which have been appointed stabilising managers.

23^rd October 2012

Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.

Unione di Banche Italiane ScpA

Stabilisation Notice



UBS Investment Bank (contact: Mark Wheatcroft / Aya Suzuki / Aubelia Louedin;
telephone: +44 20 7567 2477) hereby gives notice that the Stabilising
Manager(s) named below may stabilise the offer of the following securities in
accordance with Commission Regulation (EC) No. 2273/2003 implementing the
Market Abuse Directive (2003/6/EC).

The securities: [1]


Issuer:                                                                                           Unione di
                                                                                                  Banche
                                                                                                  Italiane ScpA
Guarantor (if any):     
Aggregate nominal amount:                 [EUR tbc]
Description: Senior
                                                                                                  unsecured,
                                                                                                  Fixed. RegS
                                                                                                  Notes
Offer                                                                                             [100.00]
price:
Other offer terms: [2]                                                                            


Stabilisation:
Stabilising Manager(s):[3]                                                                      UBS
                                                                                                  Investment
                                                                                                  Bank

                                                                                                  Agents:

                                                                                                  ING

                                                                                                  Natixis

                                                                                                  Nomura

                                                                                                  Societe
                                                                                                  Generale CIB
Stabilisation period expected to start on: [4]                                                    [23^rd
                                                                                                  October 2012]
                                                                                                 [the date of
                                                                                                  this
                                                                                                  announcement]
Stabilisation period expected to end no later than: [5]                                           [22^nd
                                                                                                  November
                                                                                                  2012] (30
                                                                                                  days after
                                                                                                  the proposed
                                                                                                  issue date of
                                                                                                  the
                                                                                                  securities)
                                                                                                  [6]

                                                                                                  
Maximum size of over-allotment facility: [7]                                                      [7.5% of the
                                                                                                  aggregate
                                                                                                 nominal
                                                                                                  amount stated
                                                                                                  above.]



In connection with the offer of the above securities, the Stabilising
Manager(s) may over-allot the securities or effect transactions with a view to
supporting the market price of the securities at a level higher than that
which might otherwise prevail. However, there is no assurance that the
Stabilising Manager(s) will take any stabilisation action and any
stabilisation action, if begun, may be ended at any time. [8]



This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or
dispose of any securities of the Issuer in any jurisdiction.



This announcement and the offer of the securities to which it relates are only
addressed to and directed at persons outside the United Kingdom and persons in
the United Kingdom who have professional experience in matters related to
investments or who are high net worth persons within article 12(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and
must not be acted on or relied on by other persons in the United Kingdom. [9]



In addition, if and to the extent that this announcement is communicated in,
or the offer of the securities to which it relates is made in, any EEA Member
State that has implemented Directive 2003/71/EC (together with any applicable
implementing measures in any Member State, the "Prospectus Directive") before
the publication of a prospectus in relation to the securities which has been
approved by the competent authority in that Member State in accordance with
the Prospectus Directive (or which has been approved by a competent authority
in another Member State and notified to the competent authority in that Member
State in accordance with the Prospectus Directive), this announcement and the
offer are only addressed to and directed at persons in that Member State who
are qualified investors within the meaning of the Prospectus Directive (or who
are other persons to whom the offer may lawfully be addressed) and must not be
acted on or relied on by other persons in that Member State. [10]



This announcement is not an offer of securities for sale into the United
States. The securities have not been, and will not be, registered under the
United States Securities Act of 1933 and may not be offered or sold in the
United States absent registration or an exemption from registration. There
will be no public offer of securities in the United States. END



------------------------------------------------------------------------------

[1] Article 8(4) of the Regulation requires disclosure of the terms of the
offer (including the spread to the benchmark, if any, once it has been fixed).

[2] For example, in a convertible offering, include conversion price. Delete
if inapplicable.

[3] Article 9(1)(d) requires disclosure of the identity of the stabilisation
managers.

[4] Article 9(1)(c) requires disclosure of the beginning of the stabilisation
period.

[5] Article 9(1)(c) requires disclosure of the end of the stabilisation
period.

[6] Alternatively, if shorter, the stabilisation period must end no later than
60 days after the date of the allotment.

[7] Article 9(1)(e) requires disclosure of the existence and maximum size of
any overallotment facility. The disclosure should reflect the terms of the
underwriting/dealer



agreement.

[8] Article 9(1)(a) of the Regulation requires disclosure of the fact that
stabilisation may be undertaken, that there is no assurance that it will be
undertaken and that it may be



stopped at any time.

[9] Article 12(4)(a) and (b) and (5) of the Financial Promotion Order. In
addition, in order to rely on the safe harbour under article 12(3), the
communication should not be referred



to in, or be directly accessible from, any other communication made to or
directed at other kinds of persons in the UK by the co-ordinating stabilising
manager (article 12(4)(c) and (6)(c) Financial Promotion Order) and the
co-ordinating stabilising manager should have in place proper systems and
procedures to prevent recipients in the UK (other than those to whom the
communication might otherwise lawfully have been made by the co-ordinating
stabilising manager or a member of its group) engaging in investment activity
to which the announcement relates with the co-ordinating stabilising manager
or a member of its group (article 12(4)(e) Financial Promotion Order).

[10] Article 3(2) Prospectus Directive.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


STAEAXEDADXAFEF -0- Oct/23/2012 07:44 GMT