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UBS plans callable step-up fixed-rate notes with a 5% initial rate
By Toni Weeks
San Diego, March 2 - UBS AG, Jersey Branch plans to price callable step-up fixed-rate notes due March 23, 2026, according to an FWP filing with the Securities and Exchange Commission.
The coupon is initially 5%. It will step up to 5.35% on March 23, 2019 and to 7% on March 23, 2024. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Sept. 23, 2011, the notes will be callable at par on any interest payment date.
The notes (Cusip: 90261JGP2) are expected to settle on March 23.
UBS Securities LLC is the agent.
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