UBS AG LONDON BRANCH - Notification of Final Redemption and the Automatic Early Termination for the UBS Actively Managed Certificate linked to Biggles Worldwide Flexible Portfolio
What this filing means
UBS AG, London Branch has notified holders of the UBS Actively Managed Certificate linked to Biggles Worldwide Flexible Portfolio (ISIN ZAE000342317, code BIGGLS) that the product will be redeemed early and terminated automatically. The Reference Portfolio Advisor is no longer intending to advise on and maintain the Reference Portfolio, so the underlying portfolio converts entirely to cash at the close of 11 November 2026. The indicative Reference Portfolio Value is ZAR 110.78 per note; the final amount is set by the Calculation Agent.
The company that ran the portfolio behind this UBS certificate has decided to stop running it, so the product is being closed. The portfolio will be converted entirely to cash at the close of 11 November 2026, and holders will receive the scheduled payment on 18 November 2026. The ZAR 110.78 per note shown here is only an indicative value — the final amount is calculated under the product's terms, so it can still move before payment.
Bear case
- Missing evidence: the filing provides an indicative Reference Portfolio Value of ZAR 110.78 per note but does not state the final Redemption Amount, which the Calculation Agent determines under the Terms.
AI-generated summary by SENS-AI, based on the original JSE SENS filing.
SENS-AI conclusion
A wind-up notice, not a market signal. The economics are mechanical: the portfolio goes to cash, trading stops, and holders are paid a final amount calculated under the Terms. The one number a holder cares about — the final Redemption Amount — is not in this filing; only an indicative value of ZAR 110.78 per note is given. So what: nothing here changes a view on any underlying business; the payment date and the final amount announcement are what settle the outcome for holders.
The final Redemption Amount, due to be announced by 08:00 on 13 November 2026, is where holders learn what they will actually be paid.
Evidence from the filing
The advisor's withdrawal is the stated cause of termination.
“The Reference Portfolio Advisor has advised that they are no longer intending to advise on and maintain the Reference Portfolio.”
The portfolio is converted to cash in full.
“The underlying portfolio will be converted to cash in its entirety as of Wednesday, 11 November 2026 (end of day close).”
Only an indicative value is given, not the final amount.
“The indicative Reference Portfolio Value (“RPV”) as at date of this announcement is ZAR 110.78 per note.”
The final amount is calculated by the Calculation Agent under the Terms.
“Each Portfolio Note entitles the investor to receive on the Payment Date an amount in the Settlement Currency, as calculated by the Calculation Agent, according to the terms and conditions outlined in the Terms.”
Payment is scheduled for 18 November 2026.
“Payment Date Wednesday, 18 November 2026”
Related filings
Other Debt Notice
- THE STANDARD BANK OF SOUTH AFRICA LIMITED - Financial Instrument Early Redemption Announcement
- PRESCIENT MANAGEMENT COMPANY (RF) PROPRIETARY LIMITED - Partial Redemption of PIPETF Securities
- NEDBANK GROUP LIMITED - NGT118 - Interest Payment Notification
- SOUTH AFRICAN SECURITISATION PROGRAMME (RF) LIMITED - Interest Payment Notifications
- NEW DEVELOPMENT BANK - NDBB02 Interest Payment Notification