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UBS plans to price 12-year callable step-up notes with 5% initial rate
By Angela McDaniels
Tacoma, Wash., Feb. 15 - UBS AG, Jersey Branch plans to price callable step-up fixed-rate notes due Feb. 28, 2023, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 5% for years one through 10 and 6% for years 11 and 12. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date.
The notes (Cusip: 90261JGK3) will settle Feb. 28.
UBS Securities LLC is the underwriter.
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