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UBS plans to price 15-year callable step-up notes with 3% initial rate
By Susanna Moon
Chicago, Aug. 6 - UBS AG, Jersey Branch plans to price callable step-up fixed-rate notes due Aug. 23, 2027, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 3% for the first six years. After that, the rate will step up to 3.5% on Aug. 23, 2018, to 4% on Aug. 23, 2022 and to 5% on Aug. 23, 2025. Interest is 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 Aug. 20 and settle on Aug. 23.
The Cusip number is 90261JKP7.
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