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UBS to price callable step-up notes due 2022 with 2.5% initial rate
By Susanna Moon
Chicago, Sept. 20 - UBS AG, Jersey Branch plans to price callable step-up fixed-rate notes due Oct. 5, 2022, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 2.5% for the first six years, stepping up to 3% on Oct. 5, 2018 and to 4.5% on Oct. 5, 2020. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date.
UBS Securities LLC is the underwriter.
The notes will price on Oct. 2 and settle on Oct. 5.
The Cusip number is 90261JKV4.
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