By Jennifer Chiou
New York, Feb. 24 - UBS AG, Jersey Branch priced $3 million of callable step-up fixed-rate notes due Feb. 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5% for 10 years. After that, the rate will step up to 6% for years 11 and 12. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning on Aug. 28, 2011.
UBS Investment Bank is the underwriter.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Callable step-up fixed-rate notes
|
| Amount: | $3 million
|
| Maturity: | Feb. 28, 2023
|
| Coupon: | 5% until Feb. 28, 2021, stepping up to 6% until Feb. 28, 2023; payable semiannually
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning on Aug. 28, 2011
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Underwriter: | UBS Investment Bank
|
| Cusip: | 90261JGK3
|
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