The sale of the risky instruments could come as early as September, one of the people added. There are no formal arrangements in place yet for an offering, and the bank could still decide not to press ahead. A spokesperson for UBS declined to comment.
A last-minute tweak of Swiss law allowed this to go ahead even as Credit Suisse shareholders managed to preserve some value in the deal. This pushed Swiss AT1 bond spreads wider compared to European counterparts.
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