UBS Said to Sell Contingent Capital Notes in Dollars This Week

UBS AG (UBSN) plans to sell contingent capital notes in dollars this week, according to two people with knowledge of the sale.

The dollar-denominated notes will mature in February 2022 and are callable from February 2017, the people said. The securities are permanently written down if the bank’s capital falls below a certain level.

BNP Paribas SA, Commerzbank AG, Deutsche Bank AG and Societe Generale SA are managing the deal with UBS.

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