By Cristal Cody
Tupelo, Miss., Aug. 6 – UBS Group AG (A-/A+) priced $1.5 billion of 3.126% fixed-to-floating rate notes due Aug. 13, 2030 on Tuesday at a spread of 140 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 155 bps area.
The rate on the notes will reset to a floating rate of Libor plus 146.76 bps after the initial fixed-rate period.
UBS Securities LLC was the bookrunner.
The investment bank and financial services company is based in Zurich and Basel, Switzerland.
| Issuer: | UBS Group AG
|
| Amount: | $1.5 billion
|
| Maturity: | Aug. 13, 2030
|
| Description: | Fixed-to-floating rate notes
|
| Bookrunner: | UBS Securities LLC
|
| Coupon: | 3.126%; resets to Libor plus 146.76 bps after initial fixed-rate period
|
| Spread: | Treasuries plus 140 bps
|
| Trade date: | Aug. 6
|
| Ratings: | S&P: A-
|
| Fitch: A+
|
| Price guidance: | Treasuries plus 155 bps area
|
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