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UBS to price 10-year callable step-up notes with 3.5% initial rate
By Jennifer Chiou
New York, March 20 - UBS AG, Jersey Branch plans to price callable step-up fixed-rate notes due April 13, 2022, according to an FWP with the Securities and Exchange Commission.
The coupon is 3.5% for the first five years. It will step up to 4.25% on April 13, 2017 and to 5.5% on April 13, 2020. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning on Oct. 13, 2012.
The notes (Cusip: 90261JJH7) will settle on April 13.
UBS Securities LLC is the agent.
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