By Toni Weeks
San Diego, June 28 - UBS AG, Jersey Branch priced $1.5 million of fixed-to-floating-rate notes due June 29, 2021 linked to the Consumer Price Index, according to an 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first year. After that, the rate will be equal to the year-over-year change in the Consumer Price Index plus 115 basis points, subject to a maximum interest rate of 7%.
Interest is payable semiannually and cannot be less than zero.
The payout at maturity will be par plus the final interest payment.
UBS Securities LLC will be the agent.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $1.5 million
|
| Maturity: | June 29, 2021
|
| Coupon: | 4% for one year; after that, year-over-year change in the Consumer Price Index plus 115 bps, floor of 0%, cap of 7%, payable semiannually
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Underwriter: | UBS Securities LLC
|
| Fees: | None
|
| Cusip: | 90261JHE6
|
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