UBS talks three-year covered bonds, pricing expected Thursday

By Andrea Heisinger

New York, March 21- UBS AG is in Thursday's market with a sale of three-year covered bonds (Aaa//AAA), an informed source said.

Initial price talk is in the mid-swaps plus 30 basis points to 32 bps range.

Pricing is being done under Rule 144A and Regulation S.

Bookrunners are Barclays, Lloyds Securities, Inc., RBC Capital Markets LLC, Santander Investment Securities Inc., UBS Securities LLC and Wells Fargo Securities LLC.

UBS did a $1.5 billion sale of 1.875% three-year covered bonds in the U.S. market on Jan. 19, 2012 at a spread of mid-swaps plus 135 bps.

The financial services company is based in Basel and Zurich, Switzerland.

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