By Lisa Mayntz and Cristal Cody
Chicago, Feb. 3 – UBS Group AG sold $2 billion of notes due Feb. 11, 2032 with an initial fixed coupon of 2.095% at a spread of Treasuries plus 100 basis points, according to a market source.
Initial price talk was in the area of Treasuries plus 125 bps to 130 bps.
The notes have 10 years of call protection, and the rate resets to Treasuries plus 100 bps.
UBS Securities LLC was the bookrunner.
The investment bank and financial services company is based in Zurich and Basel, Switzerland.
| Issuer: | UBS Group AG
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| Description: | Notes
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| Amount: | $2 billion
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| Maturity: | Feb. 11, 2032
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| Bookrunner: | UBS Securities LLC
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| Coupon: | 2.095% initial rate; resets to a coupon based on Treasuries plus 100 bps
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| Spread: | Treasuries plus 100 bps
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| Reset margin: | Treasuries plus 100 bps
|
| Call: | Non-callable for 10 years
|
| Trade date: | Feb. 2
|
| Guidance: | Treasuries plus 125 bps to 130 bps
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