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UBS marketing US dollar PNC 2021 Additional Tier 1 bond - lead
March 14, 2016 / 8:30 AM / 2 years ago

UBS marketing US dollar PNC 2021 Additional Tier 1 bond - lead

LONDON, March 14 (IFR) - UBS Group AG is marketing a perpetual non-call 2021 Additional Tier 1 bond at 7%-7.125%, according to a lead.

The Swiss lender’s investment bank is lead manager for the transaction, which is denominated in US dollars and in a Reg S format and will be priced later today.

Under the terms of the deal, the bonds will be written down if the bank’s Common Equity Tier 1 ratio falls below 7%. (Reporting by Alice Gledhill, Editing by Helene Durand)

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