By Taylor Fox
New York, Aug. 10 – UBS AG London Branch priced $50 million of fixed- to floating-rate notes due Aug. 4, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1% for first year, then a rate equal to Libor, subject to a floor of zero. Interest is payable quarterly.
The payout at maturity will be par.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG London Branch
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Issue: | Fixed- to floating-rate notes
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Amount: | $50 million
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Maturity: | Aug. 4, 2023
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Coupon: | 1% for first year, then a rate equal Libor, subject to a floor of zero; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | July 31
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Settlement date: | Aug. 4
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 0.2%
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Cusip: | 90276BFG3
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