New Issue: UBS London sells $3 billion of senior notes in three tranches

By Devika Patel and Cristal Cody

Knoxville, Tenn., Sept. 6 – UBS AG, London Branch priced $3 billion of senior notes in three tranches (Aa3/A+/ A+) on Tuesday, according to an FWP filing with the Securities and Exchange Commission and a market source.

There were floating-rate notes and two parts of fixed-rate notes.

The company sold $500 million of two-year floaters at SOFR plus 93 basis points at par.

The company priced $1 billion of 5.8% two-year notes at 99.994 to yield 5.803%, or a spread of 85 bps over Treasuries. Initial price talk for the two-year notes was in the Treasuries plus 105 bps area.

There was $1.5 billion of 5.65% five-year notes priced at 99.996 to yield 5.651%, or Treasuries plus 128 bps. Initial price talk for the five-year notes was in the Treasuries plus 150 bps area.

UBS Securities LLC was the bookrunner.

The investment bank and financial services company is based in Zurich and Basel, Switzerland.

Issuer:	UBS AG, London Branch
Amount:	$3 billion
Issue:	Floating-rate senior notes and fixed-rate senior notes
Bookrunner:	UBS Securities LLC
Joint lead managers:	Barclays, BBVA Securities Inc., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, BofA Securities, Inc., CIBC World Markets Corp., Desjardins Securities Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Huntington Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, nabSecurities, LLC, National Bank of Canada Financial Inc., Piraeus Bank SA, Rabo Securities USA, Inc., RB International Markets (USA) LLC, RBC Capital Markets, LLC, Regions Securities LLC, Santander US Capital Markets LLC, Scotia Capital (USA) Inc., SEB Securities, Inc., SG Americas Securities, LLC, TD Securities (USA) LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC
Co-managers:	Academy Securities, Inc., AmeriVet Securities, Inc., Banco Comercial Portugues SA, Blaylock Van, LLC, Cabrera Capital Markets LLC, CastleOak Securities, LP, China CITIC Bank International Ltd., Drexel Hamilton, LLC, KBC Securities USA LLC, R. Seelaus & Co., LLC, Roberts & Ryan, Inc., Korea Development Bank, Tigress Financial Partners LLC and Unicaja Banco SA
Trade date:	Sept. 5
Settlement date:	Sept. 11
Ratings:	Moody’s: Aa3
	S&P: A+
	Fitch: A+
Two-year floaters
Amount:	$500 million
Maturity:	Sept. 11, 2025
Coupon:	SOFR plus 93 bps
Price:	Par
Yield:	SOFR plus 93 bps
Price talk:	SOFR plus equivalent
Cusip:	902674ZX1
Two-year notes
Amount:	$1 billion
Maturity:	Sept. 11, 2025
Coupon:	5.8%
Price:	99.994
Yield:	5.803%
Spread:	Treasuries plus 85 bps
Price talk:	Treasuries plus 105 bps area
Cusip:	902674ZV5
Five-year notes
Amount:	$1.5 billion
Maturity:	Sept. 11, 2028
Coupon:	5.65%
Price:	99.996
Yield:	5.651%
Spread:	Treasuries plus 128 bps
Price talk:	Treasuries plus 150 bps area
Cusip:	902674ZW3

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