UBS is to redeem a bond of over $1 billion, whch counts as part of its core capital.
UBS is to redeem a $1.1 billion bond on August 10, the first call date, the bank said Tuesday.
The bond is part of the its Tier-1 core capital.
The instrument was issued in 2016 and is quoted on the Swiss SIX exchange. The bank gave no reason for the redemption.
In February UBS redeemed a Tier-2 instrument of around 2 billion euros ($2.4 billion). Tier 2 is designated as the second or supplementary layer of a bank's capital.
