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Commentary & Deal Flow

Related Parents

UBS Group AG

Related Issuers

UBS AG (Stamford Branch)

by Chris Reich

Mar 11, 2026 1:21 PM ET

LAUNCH: UBS AG/Stamford US$3bn 3nc2 / S6nc5 3-Pt Sr Notes

IGC European Market: Deal Flow - GeneralIGC US Market: Deal Flow - General

UBS AG, acting through its Stamford branch (UBS) exp Aa2/A+/A+ US$3bn 3(a)2 exempt 3-part sr notes (3nc2 fixed to float and/or FRN due 3/16/29 and short 6nc5 fixed to float due 2/16/32). Floating Rate commencement Date: 3nc2: 3/16/28, S6nc5: 2/16/31. UBS (B&D) sole books. Special Redemption: At the Issuer's option, in whole but not in part, on the occurrence of certain tax events, on the terms and subject to the provisions described under "Description of Notes We May Offer – Optional Tax Redemption" in the Offering Circular. Pricing 3/11. Settle 3/16 (T+3).

IPTs: 3nc2 T+95 area and SOFR equiv, S6nc5 T+115 area.

GUIDANCE: 3nc2 FXD T+67#, 3nc2 FRN SOFR+81#, 6nc5 T+85#.

LAUNCHED:
$500m 3nc2 FRN at SOFR+81.
$1.25bn 3nc2 FTF at T+67.
$1.25bn 6nc5 FTF at T+85.

OTHER:

Interest Payment Frequency	Fixed Rate: Semi-Annual March 16 and September 16 in each year, from (and including) September [16], 2026 to (and including) the Floating Rate Commencement Date Floating Rate: Quarterly	Floating Rate: Quarterly March 16, June 16, September 16 and December 16 in each year, from (and including) June 16, 2026 to (and including) the Maturity Date, subject, except for the Interest Payment Date falling on the Maturity Date, to adjustment according to the modified following business day convention	Fixed Rate: Semi-Annual February 16 and August 16 in each year, from (and including) August 16, 2026 (short first coupon) to (and including) the Floating Rate Commencement Date Floating Rate: Quarterly
CUSIP	90261A AG7	90261A AF9	90261A AH5
ISIN	US90261AAG76	US90261AAF93	US90261AAH59
Tranche Size	USD Benchmark
Optional Redemption	Par Call: 1 year prior to maturity
Special Redemption	At the Issuer's option, in whole but not in part, on the occurrence of certain tax events, on the terms and subject to the provisions described under "Description of Notes We May Offer – Optional Tax Redemption" in the Offering Circular
Settlement	March [16], 2026 (T+[3])
Denominations	USD 250k with USD 1k increments thereafter
Documentation	In accordance with the Offering Circular dated August 30, 2024 (the “Base Offering Circular”), as supplemented and amended by the applicable preliminary pricing supplement dated March [11], 2026 (together with the Base Offering Circular, the “Offering Circular”)
Listing	None