By Angela McDaniels
Tacoma, Wash., April 18 – UBS AG, London Branch priced $10 million of callable step-up notes due April 22, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate per year is 3% for the first 2.5 years, 3.25% for the next three years and 4.25% for the final six months. Interest is payable quarterly.
Beginning Oct. 22, the notes are callable at par quarterly.
The payout at maturity will be par.
UBS Securities LLC and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Callable step-up notes
|
| Amount: | $10 million
|
| Maturity: | April 22, 2025
|
| Coupon: | 3% per year to but excluding Oct. 22, 2021; 3.25% per year from and including Oct. 22, 2021 to but excluding Oct. 22, 2024; 4.25% per year from and including Oct. 22, 2024 to but excluding maturity date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly beginning Oct. 22
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Underwriters: | UBS Securities LLC and UBS Investment Bank
|
| Fees: | 0.53%
|
| Cusip: | 90270KZJ1
|
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