New Issue: UBS prices $20.76 million of callable step-up notes with 5.6% initial rate

By Wendy Van Sickle

Columbus, Ohio, July 12 – UBS AG, London Branch priced $20.76 million of callable step-up notes due June 30, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 5.6% initially, stepping up to 5.8% on June 30, 2024 and to 6% on June 30, 2025. Interest is payable semiannually.

The notes are callable at par on any quarterly redemption date after one year.

The payout at maturity will be par.

UBS Securities LLC and UBS Investment Bank are the underwriters.

Issuer:	UBS AG, London Branch
Issue:	Callable step-up notes
Amount:	$20,763,000
Maturity:	June 30, 2026
Coupon:	5.6% initially, stepping up to 5.8% on June 30, 2024 and to 6% on June 30, 2025; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	Callable at par on any quarterly redemption date after one year
Pricing date:	June 28
Settlement date:	June 30
Underwriters:	UBS Securities LLC and UBS Investment Bank
Fees:	0.3982%
Cusip:	90279GRN1

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