By Devika Patel and Cristal Cody
Knoxville, Tenn., Feb. 2 – UBS Group AG priced $1.5 billion of 4.375% perpetual AT1 capital notes at par with a reset margin of Treasuries plus 331.3 bps, on Monday, according to a market source.
Initial price talk was in the 5% area.
UBS Securities LLC was the bookrunner.
The investment bank and financial services company is based in Zurich and Basel, Switzerland.
| Issuer: | UBS Group AG
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| Description: | AT1 capital notes
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| Amount: | $1.5 billion
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| Maturity: | Perpetual
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| Bookrunner: | UBS Securities LLC
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| Coupon: | 4.375%
|
| Price: | Par
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| Reset margin: | Treasuries plus 331.3 bps
|
| Call: | Non-callable until Feb. 10, 2031
|
| Trade date: | Feb. 1
|
| Guidance: | 5% area
|
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