ETRACS Alerian MLP Index ETN Series B due July 18, 2042 424B Filings

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of NVIDIA Corporation, maturing around February 23, 2029. Each Note has a $1,000 principal amount and offers a potential contingent coupon of 15.65% per annum, paid quarterly when NVIDIA’s closing price is at or above a coupon barrier set at 60% of the initial level.

The Notes can be automatically called on quarterly observation dates beginning after six months if NVIDIA’s price is at or above the call threshold, set at 100% of the initial level. If called, investors receive principal plus the due coupon and any unpaid past coupons under the memory feature. If not called and NVIDIA’s final level is at or above the downside threshold (also 60% of the initial level), investors receive full principal at maturity; otherwise, repayment is reduced one-for-one with NVIDIA’s decline, with the potential for a total loss of principal.

The Notes are unsubordinated, unsecured obligations of UBS, not listed on any exchange, and carry UBS credit risk. The estimated initial value per Note on the trade date is expected between $955.60 and $985.60, reflecting internal pricing, funding and hedging costs.

UBS AG is offering unsecured Trigger In-Digital Securities linked to the iShares Expanded Tech-Software Sector ETF (IGV) with a term of about 13 months and a $1,000 denomination per Security. These notes do not pay interest and are not principal protected.

At maturity, if IGV’s final level is at least 70% of its initial level, investors receive $1,000 plus a fixed 10.45% digital return, regardless of how much IGV has risen. If the final level is below 70% of the initial level, the payoff falls in line with IGV’s percentage loss, and the entire investment can be lost.

Any payment depends on UBS’s credit; a UBS default could result in no recovery. The Securities will not be listed on an exchange, and UBS expects the estimated initial value per Security on the trade date to be between $928.40 and $958.40, reflecting embedded fees, hedging costs and dealer compensation of up to $22.25 per Security.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500 Index, Russell 2000 Index and Nasdaq-100 Technology Sector, maturing around January 25, 2028. These unsecured notes target a 12.25% per annum contingent coupon, paid monthly only when all three indices close at or above their coupon barriers.

UBS may call the notes monthly after three months, returning principal plus any due coupon on the call date. If the notes are not called and any index finishes below its downside threshold of 70% of its initial level, the maturity payment is reduced in line with the worst-performing index, and investors can lose some or all principal.

The notes are subject to UBS credit risk, will not be listed on an exchange, and may have limited liquidity. The estimated initial value is expected between $956.80 and $986.80 per $1,000 issue price, reflecting underwriting discounts of up to $7.25 per note and issuer hedging and funding costs.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the worst performer of the S&P 500 Index and the Russell 2000 Index, maturing around January 24, 2031. The notes pay an 8.70% per annum contingent coupon only when both indices close at or above their coupon barriers on monthly observation dates.

UBS can redeem the notes early, in whole, on any observation date after six months, returning principal plus any due coupon. If the notes are not called and either index finishes below its downside threshold (65% of its initial level), investors suffer a loss matching the worst index’s decline and could lose their entire investment. The notes are unsecured UBS debt, not listed on an exchange, and carry significant market, liquidity, credit, and tax risks.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Block, Inc., maturing around August 31, 2027. Each Note has a $1,000 principal amount and an expected term of about 18 months.

The Notes pay a contingent quarterly coupon at an annual rate between 16.50% and 18.50% only if Block’s share price on an observation date is at or above the coupon barrier, set at 60% of the initial level. Missed coupons can be paid later under the memory interest feature if a future observation meets the barrier.

The Notes are autocallable: if Block’s stock closes at or above 100% of the initial level on any quarterly observation date (before final valuation), UBS will redeem early at par plus due and unpaid coupons, ending further payments. At maturity, if not called and Block is at or above the downside threshold (also 60% of the initial level), investors receive full principal back; if below, repayment is reduced one-for-one with Block’s decline, and investors can lose their entire investment.

The estimated initial value per Note is expected between $933.90 and $963.90, reflecting underwriting discounts, hedging and funding costs. The Notes are unsecured obligations of UBS, subject to its credit risk, pay no dividends from Block, and are not listed on any exchange.

UBS AG is offering $4,128,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, the Nikkei 225 Index and the Russell 2000 Index, maturing on February 18, 2031.

The Notes pay a contingent coupon at a rate of 12.30% per annum, in quarterly installments of $30.75 per $1,000 note, but only if on each observation date all three indexes are at or above 70% of their initial levels. UBS may call the Notes in whole on any observation date (other than the final valuation date), in which case investors receive principal plus any due coupon and the product terminates early.

If the Notes are not called and at maturity each index is at or above 60% of its initial level, investors receive full principal back; if any index finishes below its 60% downside threshold, repayment is reduced in line with the worst index’s percentage loss, up to a total loss of principal. The Notes are unsecured debt of UBS, so all payments depend on UBS’s creditworthiness.

UBS AG is offering $3,703,000 of Trigger Callable Contingent Yield Notes due February 14, 2030, linked to the least performing of Advanced Micro Devices stock, the Nasdaq-100 Index and the S&P 500 Index. The Notes pay a contingent coupon of 24.30% per annum ($20.25 per $1,000) only if, on a monthly observation date, each underlying is at or above its coupon barrier, set at 70% of its initial level. UBS can call the Notes in whole on any observation date after 12 months, repaying principal plus any due coupon, ending further payments. If the Notes are not called and each underlying finishes at or above its downside threshold (60% of its initial level), investors receive full principal. If any underlying ends below its downside threshold, repayment is reduced in line with the worst performer, and principal losses can reach 100%. All payments depend on UBS’s credit; the estimated initial value is $982.90 per $1,000 Note, below the issue price.

UBS AG is offering $830,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to KLA Corporation common stock, maturing August 13, 2027. Each Note has a $1,000 principal amount and pays a 16.00% per annum contingent coupon, observed quarterly, only when KLA’s share price is at or above a coupon barrier set at 65.00% of the initial level.

The Notes can be automatically called early if KLA closes at or above the call threshold of 100.00% of the initial level on any observation date before maturity, returning principal plus due and previously unpaid coupons. If not called and KLA’s final level is at or above the downside threshold of 65.00% of the initial level, investors receive full principal back.

If the Notes are not called and KLA’s final level is below the downside threshold, repayment is reduced dollar-for-dollar with the stock’s percentage decline, and all principal can be lost. Payments depend entirely on UBS’s credit, and the estimated initial value is $969.80 per $1,000 Note, below the issue price.

UBS AG is issuing $258,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index, maturing on February 19, 2031. Each Note has a $1,000 principal amount.

The Notes pay a 9.00% per annum contingent coupon (monthly $7.50 per Note) only when on an observation date both indices close at or above their coupon barriers, set at 70% of initial levels. UBS may call the Notes in whole, beginning after six months, paying principal plus any due coupon.

If the Notes are not called and on the final valuation date either index finishes below its downside threshold, set at 60% of its initial level, repayment is reduced one-for-one with the negative return of the worst index, and investors can lose all principal. Payments depend entirely on UBS’ creditworthiness, and the estimated initial value is $970.80 per $1,000 Note, below the issue price.

UBS AG is offering Digital EURO STOXX 50® Index‑Linked Medium‑Term Notes that pay no interest and have a term expected between 17 and 20 months. The maturity payment depends entirely on EURO STOXX 50® performance between the trade and determination dates.

For each $1,000 face amount, if the final index level is at or above 85% of the initial level, investors receive a capped maximum settlement amount expected between $1,102.20 and $1,120.20. If the index falls more than 15%, principal loss is magnified: investors lose about 1.1765% of face for every 1% decline beyond the 15% buffer, up to total loss.

The notes are unsecured, unsubordinated obligations of UBS, are not FDIC‑insured, will not be listed on an exchange, and may have limited or no secondary market. The estimated initial value is expected between $964.50 and $994.50 per $1,000, reflecting hedging, issuance costs and UBS’ internal funding rate.

UBS AG is offering $1,200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Spotify Technology S.A., maturing on February 13, 2029. The Notes are unsecured debt obligations of UBS and are not insured by any government agency.

Investors receive contingent coupons only if Spotify’s share price on each observation date is at or above a set coupon barrier; otherwise, no coupon is paid. The Notes are automatically called early if the share price is at or above the initial level on any observation date, returning principal plus the applicable coupon. If not called and the final share level is at or above the downside threshold, principal is repaid at maturity, with a possible final coupon. If the final level is below the downside threshold, repayment is reduced in line with the share’s decline, and all principal can be lost. The Notes are not listed, have an estimated initial value of $9.75 per $10 Note, and coupon examples use an 11.60% annual rate and a 60% downside threshold.

UBS AG is offering Capped GEARS, a structured note linked to the Russell 2000® Index, maturing on or about April 29, 2027. Each Security has a $10 principal amount and an approximate 14‑month term.

At maturity, if the index is above its initial level, investors receive $10 plus a leveraged gain: the index return multiplied by the 3.00x upside gearing, capped at a maximum gain of 19.65% to 21.65%, for a maximum payment of $11.965 to $12.165 per Security. If the index is flat, investors receive only the $10 principal. If the index has fallen, the payoff is $10 plus the index return, producing a one‑for‑one loss that can reach a 100% loss of principal.

The notes pay no interest, do not provide dividends on the underlying stocks, and will not be listed on an exchange, so liquidity may be limited. They are unsecured, unsubordinated UBS debt, so all payments depend on UBS’s credit. The estimated initial value on the trade date is expected between $9.485 and $9.785, below the $10 issue price, reflecting fees, hedging and UBS’s internal funding rate. Underwriting discount is $0.20 per Security, with minimum investment of 100 Securities.

UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. Each $1,000 note pays a 6.75% per annum contingent coupon only when all three indices are at or above 70% of their initial levels on monthly observation dates.

The notes have a 30% downside buffer, but if any index finishes below 70% at maturity and UBS has not called the notes, investors lose principal in line with the weakest index beyond that buffer and could lose almost all of their investment. UBS may call the notes monthly after three months, returning principal plus any due coupon. The notes are unsecured debt, not listed on an exchange, have an estimated initial value between $959.80 and $989.80 and expose investors to both market risk of the indices and UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Generac Holdings Inc., maturing on February 14, 2028. Each Note has a principal amount of $10, with a minimum investment of 100 Notes ($1,000).

Investors receive a contingent coupon only if Generac’s closing share price on an observation date is at or above the coupon barrier, set at 70% of the initial level in the hypothetical example ($70.00). The indicated contingent coupon rate is 14.03% per annum, or $0.3508 per $10 Note per period in the example.

The Notes are automatically called if Generac’s share price on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon, with no further payments. If not called, and the final level on the valuation date is at or above the downside threshold (also 70% in the example), investors receive full principal back plus any final contingent coupon.

If the Notes are not called and the final level is below the downside threshold, repayment is reduced one-for-one with Generac’s percentage decline, using $10 × (1 + underlying return). In the severe example shown, investors receive $4.20 plus prior coupons, a total loss of about 54.492% on the Notes.

The Notes are unsecured, unsubordinated obligations of UBS AG and carry full downside market risk to Generac below the threshold plus UBS credit risk. They are not listed on an exchange, may be hard to sell, and the estimated initial value is $9.56 per $10 Note, reflecting UBS’ internal pricing and funding costs.

UBS AG is issuing Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., with an aggregate principal amount of $138,000 and scheduled maturity on February 14, 2028. The Notes pay a contingent coupon only if Snowflake’s share price on each observation date, including the final valuation date, is at or above a specified coupon barrier.

The Notes will be automatically called early if Snowflake’s share price on any observation date before maturity is at or above the initial level. In that case, investors receive the $10 principal per Note plus any due contingent coupon, and the product terminates.

If the Notes are not called and Snowflake’s final level is at or above the downside threshold, investors receive full principal back at maturity, plus any final contingent coupon if the coupon barrier is met. If the final level is below the downside threshold, repayment is reduced in line with Snowflake’s percentage decline, and investors can lose all of their investment. Payments also depend on UBS’s credit; a UBS default could result in a total loss. The Notes are not listed and have limited liquidity, and the estimated initial value is $9.75 per $10 principal amount.

UBS AG is offering $138,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Newmont Corporation, maturing on February 14, 2028. These unsecured debt notes pay a high contingent coupon only when Newmont’s share price is at or above a preset coupon barrier on each observation date.

The notes can be automatically called early if Newmont’s share price is at or above the initial level on any observation date, in which case investors receive the $10 principal per note plus the applicable coupon and no further payments. If not called and the final share level is at or above the downside threshold, investors receive principal at maturity, plus the final contingent coupon if the coupon barrier is met.

If the notes are not called and Newmont’s final share level is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and investors can lose all of their investment. Payments depend on UBS’s credit; the notes are not insured, will not be listed on an exchange, require a minimum $1,000 purchase, and have an estimated initial value of $9.73 per $10 note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, with a principal amount of $10 per Note and a term running from a trade date of February 11, 2026 to a maturity date of February 14, 2028, unless called earlier.

The Notes pay a contingent coupon, illustrated at 18.90% per annum (or $0.4725 per $10 Note per period), only when Fluor’s closing level on an observation date is at or above the coupon barrier, set in the example at 70% of the initial level (a $70 downside threshold and coupon barrier if the initial level is $100). UBS will automatically call the Notes if Fluor’s level on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon and ending further payments.

If the Notes are not called and Fluor’s final level on the February 10, 2028 final valuation date is at or above the downside threshold, investors receive only the $10 principal plus any final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with the underlying stock’s negative return, and investors can lose some or all of their initial investment, as shown in the examples where the payoff can fall to $4.20 per Note. Payments depend entirely on UBS’s creditworthiness, the Notes will not be listed on any exchange, the minimum investment is 100 Notes (a $1,000 investment), and the estimated initial value per Note is $9.71.

UBS AG is offering $100,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc., maturing on February 14, 2028. These unsubordinated, unsecured notes pay a contingent coupon only when the stock closes at or above a specified coupon barrier on each observation date.

The notes may be automatically called early if Freeport-McMoRan’s stock closes at or above the initial level on any observation date before maturity, returning principal plus the applicable coupon and ending further payments. If not called and the final stock level is at or above the downside threshold, investors receive the $10 principal per Note at maturity; if it is below, repayment is reduced in line with the stock’s decline, and the entire investment can be lost.

The example terms show a 17.62% per annum contingent coupon (about $0.4405 per $10 Note per observation period), with both the downside threshold and coupon barrier set at 70% of the initial level. The minimum investment is 100 Notes at $10 per Note, and the estimated initial value is $9.71 per Note. All payments depend on UBS’s creditworthiness, so a default by UBS could result in loss of all amounts due.

UBS AG is offering $138,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., unsecured debt that can pay contingent coupons and may be called early before their February 14, 2028 maturity.

Coupons are paid only if Vistra’s share price stays at or above a preset barrier on observation dates, and the notes auto-call if the share price is at or above the initial level. If held to maturity without being called and Vistra finishes below a downside threshold, repayment is reduced in line with the stock’s decline, up to a total loss. Each note has a $10 denomination, minimum investment is 100 notes, the estimated initial value is $9.74, the notes will not be listed, and all payments depend on UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dollar General Corporation, maturing on February 14, 2028. These unsecured debt securities pay contingent coupons only when the stock closes at or above a specified coupon barrier on each observation date.

The notes can be called early if the stock is at or above its initial level on any observation date before maturity, in which case investors receive principal plus the applicable coupon and the product terminates. If the notes are not called and the stock ends below a downside threshold at final valuation, repayment is reduced in line with the stock’s loss, up to a total loss of principal.

All payments depend on UBS’s credit; a default could result in losing the entire investment. The notes will not be listed on an exchange, have an estimated initial value of $9.71 per $10 note, and require a minimum purchase of 100 notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., maturing on February 14, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes, or $1,000.

The Notes pay a contingent coupon only when Netflix’s closing price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid. UBS will automatically call the Notes early if Netflix’s price on any observation date before maturity is at or above the initial level, returning principal plus the applicable coupon and ending the investment.

If not called, and Netflix’s final price is at or above a downside threshold, investors receive principal back at maturity, plus any final coupon if the barrier is met. If the final price is below the downside threshold, repayment is reduced in line with the stock’s decline, up to a total loss of principal. Payments depend on UBS’s credit, the Notes will not be listed on an exchange, and the estimated initial value is $9.74 per $10 Note.

UBS AG is offering $250,000 of Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. common stock, maturing February 14, 2028. These unsecured notes pay coupons only if ServiceNow’s share price is at or above a preset barrier on quarterly observation dates.

UBS can automatically redeem the notes early if ServiceNow’s price is at or above the initial level on any observation date, returning principal plus any due coupon, after which no further payments occur. If the notes are not called and ServiceNow finishes below a downside threshold at maturity, investors’ repayment is reduced in line with the share decline and can fall to zero. Denominations are $10 per note, with a $1,000 minimum, and the estimated initial value is $9.73 per note. All payments depend on UBS’s creditworthiness.

UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Humana Inc. that mature on February 14, 2028. These notes pay contingent coupons only if Humana’s share price on each observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.

The notes are automatically called early if Humana’s share price on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and the notes terminate. If the notes are not called and Humana’s final share price is at or above a downside threshold, investors receive only their principal back at maturity, plus any final contingent coupon if the coupon barrier is met. If the final share price is below the downside threshold, repayment is reduced in line with Humana’s decline and investors can lose their entire investment.

The notes are senior unsecured obligations of UBS, subject to UBS’s credit risk, will not be listed on any exchange, are offered in minimums of 100 notes at $10 each, and have an estimated initial value of $9.59 per $10 note based on UBS’s internal models.

UBS AG is offering $138,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, maturing on February 14, 2028. Each Note has a $10 principal amount and pays a contingent coupon only when Fluor’s share price is at or above a preset coupon barrier on scheduled observation dates.

The Notes can be called early if Fluor’s share price is at or above the initial level on any observation date, in which case investors receive principal plus the applicable contingent coupon and the product terminates. If not called and the final share price is at or above the downside threshold, investors receive full principal at maturity, plus any final contingent coupon if the coupon barrier is also met.

If the Notes are not called and Fluor’s final share price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their principal. Payments depend on UBS’s credit, the Notes are not FDIC-insured, are not listed on an exchange, and the estimated initial value per $10 Note is $9.75.

UBS AG is offering $400,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of DICK'S Sporting Goods, Inc. Each Note has a $10 principal amount and pays contingent coupons only when the stock closes at or above a set coupon barrier on observation dates.

The Notes can be called early if the stock closes at or above the initial level on any observation date, in which case holders receive principal plus any due coupon and the Notes terminate. If not called, and the final stock level is at or above the downside threshold, investors receive full principal at maturity; if it falls below that threshold, repayment is reduced in line with the stock’s decline and can go to zero.

The Notes are unsecured, unsubordinated debt of UBS, are not listed on any exchange, and carry both equity market risk and UBS credit risk. The estimated initial value per $10 Note is $9.71, reflecting internal pricing and funding considerations.

UBS AG is offering unsubordinated, unsecured Airbag Autocallable Yield Notes linked to the common stock of MercadoLibre, Inc. Each Note has a $5,000 principal amount and pays a fixed coupon at 10.60% per annum, with coupons paid monthly as long as the Notes remain outstanding.

The Notes can be automatically called quarterly if MercadoLibre’s share price on an observation date is at or above the call threshold level, set at 100% of the initial level ($2,007.00). If called, investors receive principal plus the due coupon and no further payments.

If not called and the final share price on February 12, 2027 is at or above the conversion level of 80% of the initial level ($1,605.60), UBS repays the $5,000 principal at maturity on February 18, 2027. If the final level is below the conversion level, investors receive 3.1141 shares of MercadoLibre per Note (plus cash for any fraction), which is expected to be worth less than principal and can result in substantial loss.

The Notes are subject to UBS credit risk, will not be listed on an exchange, and carry significant liquidity and market risks. The issue price is $5,000 per Note, including a $75 underwriting discount, with proceeds to UBS of $4,925 per Note. UBS estimates the initial value between $4,711.50 and $4,861.50, reflecting internal pricing and funding assumptions.

UBS AG is offering $750,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on February 14, 2028. These are unsubordinated, unsecured debt obligations of UBS.

Investors receive contingent coupons only if Oracle’s share price on quarterly observation dates, starting about six months after issuance, is at or above a preset coupon barrier. The notes are automatically called early if Oracle’s price on any such date is at or above the initial level, in which case investors receive principal plus the applicable coupon and no further payments.

If the notes are not called and Oracle’s final share price on the February 10, 2028 valuation date is at or above the downside threshold, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with the share price decline and can fall to zero. The notes are not listed, have a minimum investment of 100 notes at $10 each, and had an estimated initial value of $9.82 per note. All payments depend on UBS’s credit strength.

UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on February 13, 2029. These notes can pay periodic contingent coupons only when NVIDIA’s closing level on an observation date is at or above a preset coupon barrier.

The notes are automatically called early if NVIDIA’s level on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable coupon and no further payments. If the notes are not called and NVIDIA’s final level is at or above the downside threshold, investors receive only the principal (plus any final coupon).

If the notes are not called and NVIDIA’s final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their initial investment. The notes are not listed, have an estimated initial value of $9.66 per $10 note, require a minimum $1,000 purchase, and all payments depend on UBS’s creditworthiness.

UBS AG is offering $2,232,500 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on February 14, 2028. Each Note has a $10 principal amount and pays a contingent coupon only when NVIDIA’s share price is at or above a preset coupon barrier on scheduled observation dates.

The Notes are automatically called if NVIDIA’s share price is at or above the initial level on any observation date before maturity, returning principal plus the due coupon and ending the investment. If not called, investors receive full principal at maturity only if the final share price stays at or above a downside threshold; otherwise, repayment is reduced in line with NVIDIA’s decline, and all principal can be lost.

The indicative contingent coupon rate in the examples is 19.85% per year, with a coupon barrier set at 75% of the initial level and a downside threshold at 72%. The estimated initial value is $9.82 per $10 Note, and all payments depend on UBS’s ability to meet its obligations as an unsecured issuer.

UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Palo Alto Networks, Inc. The Notes pay contingent coupons only when the stock closes at or above a specified coupon barrier on each observation date.

The Notes can be called early if the stock closes at or above its initial level on any observation date before maturity in February 2029, returning principal plus any due coupon and ending all future payments. If not called and the final stock level is at or above a downside threshold, investors receive only their principal back.

If the Notes are not called and the final stock level is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose all of their investment. Payments depend on UBS’s credit, the Notes will not be listed on an exchange, and the estimated initial value is $9.72 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc., maturing in February 2028. These unsecured debt notes pay contingent coupons only when DexCom’s share price on an observation date is at or above a preset coupon barrier. The notes can be called early if the stock closes at or above its initial level on any observation date before maturity, in which case investors receive principal plus the applicable contingent coupon and no further payments. If not called, investors receive full principal at maturity only if the final DexCom share level is at or above a downside threshold; below that level, repayment is reduced in line with the stock’s decline and losses can reach 100% of the investment. The notes are not listed, are subject to UBS’s credit risk, have a minimum investment of 100 notes at $10 each, and an estimated initial value of $9.77 per note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc., maturing on February 14, 2028. Each Note has a principal amount of $10, with a minimum investment of 100 Notes, or $1,000.

The Notes pay a contingent coupon only when DexCom’s closing share price on an observation date is at or above the coupon barrier, set at $70.00, which is 70.00% of the initial level in the examples. The indicative contingent coupon rate is 16.85% per year, or $0.4213 per observation period per $10 Note in the hypothetical examples.

The Notes are automatically called if DexCom’s share price on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon, with no further payments. If not called and the final level is at or above the downside threshold (also $70.00 in the examples), investors receive principal back, plus any final contingent coupon if the coupon barrier is also met.

If the Notes are not called and DexCom’s final level is below the downside threshold, investors are fully exposed to the stock’s decline on a 1:1 basis and will receive less than principal, potentially losing their entire initial investment. The estimated initial value per Note on the trade date is $9.75, below the $10 issue price, reflecting internal funding and fees.

All payments depend on the creditworthiness of UBS AG; a UBS default could result in loss of some or all invested principal. The Notes are unsecured, unsubordinated debt, are not bank deposits, are not insured by the FDIC, and will not be listed on any securities exchange, limiting liquidity.

UBS AG is offering $250,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., maturing on February 16, 2027. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not FDIC insured.

Investors receive a contingent coupon only when Palantir’s closing level on an observation date is at or above the coupon barrier, set at 70% of the initial level. The indicative contingent coupon rate is 26.78% per annum, but coupons can be skipped entirely if the barrier is not met.

The notes are automatically called if Palantir’s closing level on any observation date before the final valuation date is at or above the initial level. In that case, UBS repays the $10 principal per Note plus any due coupon, and no further payments occur.

If the notes are not called and Palantir’s final level is at or above the downside threshold (also 70% of the initial level), investors receive full principal at maturity, plus a final coupon if the barrier is met. If the final level is below the downside threshold, repayment is $10 × (1 + underlying return), creating a loss matching Palantir’s percentage decline and potentially wiping out the entire investment.

The notes are subject to UBS credit risk; a UBS default could result in total loss. They will not be listed on any exchange, and the estimated initial value of each $10 Note is $9.74, reflecting internal pricing and funding costs.

UBS AG is offering $2,004,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index, maturing in November 2030.

The Notes pay an 11.10% per annum contingent coupon, with monthly payments only if all three indices close at or above 75% of their initial levels. UBS may call the Notes in whole on any monthly observation date after six months, returning principal plus any due coupon.

If the Notes are not called and any index finishes below 60% of its initial level, repayment falls in line with the worst-performing index, and investors can lose up to all principal. The Notes are unsecured UBS debt, not listed on an exchange, and the estimated initial value is $962.30 per $1,000.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation’s common stock, with a total size of $100,000 and minimum investment of 100 Notes at $10 each. The Notes pay a high contingent coupon only when the stock closes at or above a coupon barrier on each observation date. They are automatically called early if the stock closes at or above the initial level on any observation date before maturity, returning principal plus the due coupon but ending further payments. If not called and the final stock level is at or above a downside threshold, investors receive principal back; if it is below, repayment falls in line with the stock’s decline and losses can reach 100% of principal. All payments, including any principal repayment, depend on UBS’s credit, and the estimated initial value is $9.72 per $10 Note, reflecting internal pricing and funding costs.

UBS AG is offering $400,000 of Trigger Autocallable Contingent Yield Notes linked to Ovintiv Inc. common stock, maturing February 13, 2029. These unsecured notes pay a contingent coupon only when Ovintiv’s share price on an observation date is at or above a preset coupon barrier.

The notes can be called early if Ovintiv’s stock closes at or above the initial level on any observation date, returning principal plus that period’s coupon. If not called, investors receive full principal at maturity only if the final stock level is at or above a downside threshold set at 60% of the initial level; below that, principal losses match the stock’s percentage decline and can reach 100%. The indicative contingent coupon rate in the examples is 10.58% per year (about $0.2645 per $10 note per quarter), but the estimated initial value is $9.72 versus the $10 issue price. The notes are not listed, carry UBS credit risk, and require a minimum $1,000 investment.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Uber Technologies, Inc., maturing on February 14, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes and an estimated initial value of $9.74 per Note.

Investors may receive contingent coupons only when Uber’s closing level on an observation date is at or above a specified coupon barrier, and the Notes can be automatically called early if Uber’s price is at or above the initial level. If not called and Uber’s final level is below a downside threshold, repayment of principal is reduced one-for-one with Uber’s decline, and the entire investment can be lost. All payments, including any coupons and principal, depend on UBS’s creditworthiness, and the Notes will not be listed on any exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Baidu, Inc., with a stated aggregate amount of $100,000 and maturity on February 14, 2028. The Notes pay a contingent coupon only when Baidu’s ADRs close at or above a coupon barrier, illustrated at 70% of the initial level, with an example contingent coupon rate of 17.02% per annum ($0.4255 per $10 Note per observation period). The Notes are automatically called early if, on any observation date before maturity, the ADRs close at or above the initial level, returning principal plus the applicable contingent coupon, after which no further payments are made. If not called and the final level is at or above the downside threshold, investors receive principal (and possibly a final coupon); if the final level is below the downside threshold, repayment is reduced in line with the negative underlying return, and investors can lose all of their investment. The Notes are unsecured, unsubordinated obligations of UBS, with an estimated initial value of $9.68 per $10 Note, will not be listed on any exchange, and all payments depend on UBS’s creditworthiness.

UBS AG is offering $1,861,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Salesforce, Inc. common stock, maturing February 15, 2029. Each $1,000 Note pays a contingent coupon at an annual rate of 11.35% only if Salesforce’s closing price on a quarterly observation date is at or above the $111 coupon barrier, equal to 60% of the $185 initial level. Missed coupons can be paid later if the barrier is met, under the memory feature.

The Notes can be automatically called after six months if Salesforce closes at or above the $185 call threshold (100% of the initial level), returning principal plus the due coupon and any unpaid coupons. If not called and the final level is at or above the $111 downside threshold, investors receive full principal at maturity; below that level, repayment is reduced one-for-one with Salesforce’s decline, and all principal can be lost. The Notes are unsecured, unsubordinated UBS debt with an estimated initial value of $959.60 per $1,000, will not be listed on an exchange and carry significant market, liquidity, credit and bail-in risks.

UBS AG is offering $138,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of The Mosaic Company, maturing on February 14, 2028. These are unsecured debt obligations of UBS, not conventional bonds or bank deposits.

Investors receive contingent coupons only when Mosaic’s stock closes at or above a preset coupon barrier on each observation date. The notes are automatically called early, returning principal plus that period’s coupon, if Mosaic’s stock is at or above its initial level on any observation date before maturity.

If the notes are not called and Mosaic’s final stock level is at or above the downside threshold, investors receive their principal back (and a final coupon if the coupon barrier is met). If the final level is below the downside threshold, repayment is reduced in line with Mosaic’s percentage decline, and investors can lose all of their investment. All payments depend on UBS’s credit, the notes are not exchange-listed, and the estimated initial value is $9.71 per $10 note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Applied Materials, Inc., with a stated principal amount of $10 per Note and a term to February 14, 2028. Investors receive a contingent coupon only when the stock closes at or above a coupon barrier on each observation date; otherwise no coupon is paid. The Notes are automatically called early if the stock level is at or above the initial level, returning principal plus any due coupon and ending further payments. If not called and the final stock level is at or above a downside threshold, principal is repaid at maturity, but if it is below that threshold investors incur losses matching the stock’s decline and can lose their entire investment. The contingent coupon rate in the examples is 22.95% per annum, with a downside threshold and coupon barrier of $70. Any payment depends on UBS’s credit, and the estimated initial value per Note is $9.76, below the $10 issue price.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Target Corporation, maturing on February 14, 2028. These are unsubordinated, unsecured debt obligations of UBS, not bank deposits and not FDIC insured.

The Notes pay a contingent coupon only when Target’s closing share price on an observation date is at or above a preset coupon barrier. If, on any observation date before maturity, Target’s share price is at or above the initial level, the Notes are automatically called and investors receive the $10 principal per Note plus any due coupon, with no further payments.

If the Notes are not called and Target’s final share price is at or above the downside threshold, investors receive the $10 principal at maturity, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with Target’s percentage decline, and investors can lose some or all of their initial investment. Any payment depends on UBS’s creditworthiness. The Notes are sold in minimums of 100 Notes at $10 each, and the estimated initial value is $9.70 per Note.

UBS AG is offering $138,000 of Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock, maturing on February 14, 2028. These unsecured debt notes pay a contingent coupon of 25.79% per year (about $0.6448 per $10 note per period) only when AMD’s share price is at or above a $70 coupon barrier, set at 70% of the initial level, on the relevant observation date.

The notes can be automatically called early if AMD’s closing level on any observation date before maturity is at or above the initial level, in which case investors receive $10 plus the due coupon and no further payments. If not called and AMD’s final level is at or above the $70 downside threshold at maturity, investors receive their $10 principal back (plus the final coupon if the barrier is met). If AMD’s final level is below the downside threshold, repayment is reduced dollar-for-dollar with AMD’s percentage decline, and investors can lose their entire investment.

All payments depend on UBS’s credit; a UBS default could result in total loss. The notes are not listed, have limited liquidity, require a minimum $1,000 investment, and have an estimated initial value of $9.77 per $10 note, reflecting UBS’s internal pricing and funding costs.

UBS AG is offering $5,500,000 of Capped Buffer GEARS, unsecured debt securities linked to the Dow Jones Industrial Average®, maturing on February 19, 2027. Each Security has a $1,000 principal amount and provides 2.0x leveraged exposure to positive index performance, capped at an 11.00% maximum gain ($1,110 maximum payment).

The notes include a 10.00% downside buffer: if the index finish level is at or above 90% of the initial level, investors receive at least principal back; if it is lower, losses match index declines beyond the buffer and can reach almost the entire investment. The Securities pay no interest, do not provide dividends, are not listed on an exchange, and all payments depend on UBS’s credit. The estimated initial value is $996.40 per Security, below the $1,000 issue price.

UBS AG is offering $2,082,000 of Trigger Callable Contingent Yield Notes, each with a $1,000 principal amount, linked to the least performing of the Russell 2000 Index, the S&P 500 Index and the Utilities Select Sector SPDR ETF, maturing in February 2031.

The notes pay a 9.50% per annum contingent coupon only when, on a monthly observation date, each underlying is at or above 70% of its initial level. UBS can call the notes in whole, beginning after 12 months, paying back principal plus any due coupon, ending all future payments.

If the notes are not called and, at maturity, every underlying is at or above its 70% downside threshold, investors receive full principal back (plus any final coupon). If any underlying finishes below its threshold, repayment is reduced one-for-one with the worst performer, and investors can lose up to all principal. All payments depend on UBS’s credit.

UBS AG is offering $2,200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., maturing February 17, 2028. These unsecured debt Notes pay a contingent coupon only when Dow’s closing level on an observation date is at or above a preset coupon barrier.

The Notes may be automatically called before maturity if Dow’s closing level on any observation date (before the final one) is at or above the initial level, in which case investors receive the $10 principal per Note plus the due coupon and no further payments. If the Notes are not called and Dow’s final level is at or above the downside threshold, investors receive full principal back, with a coupon if the coupon barrier is also met.

If the Notes are not called and Dow’s final level is below the downside threshold, repayment is reduced in line with Dow’s percentage decline, and investors can lose all principal. The illustrative contingent coupon rate is 17.18% per annum, or $0.1432 per $10 Note per period, and the estimated initial value per Note is $9.79, with all payments subject to UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., maturing on or about February 17, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes (a $1,000 purchase).

The Notes pay a contingent coupon only when Dow’s closing level on an observation date is at or above a coupon barrier; otherwise no coupon is paid. The Notes are automatically called if Dow’s level on any observation date before maturity is at or above the initial level, returning principal plus the applicable coupon and ending further payments.

If not called and Dow’s final level is at or above the downside threshold, investors receive only principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with Dow’s decline, and investors can lose all of their initial investment. Payments depend on the creditworthiness of UBS, the Notes will not be listed on an exchange, and the estimated initial value is between $9.51 and $9.76 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc., in a $100,000 aggregate note offering. These are unsecured, unsubordinated debt obligations that pay a high contingent coupon only when DexCom’s share price closes at or above a preset coupon barrier on each observation date.

The notes can be automatically called early if DexCom’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus the due coupon and no further payments. If the notes are not called and DexCom’s final stock level is at or above the downside threshold, investors receive back principal (and a final coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced in line with DexCom’s percentage decline, and investors can lose all of their initial investment. All payments depend on UBS’s credit, the notes are not listed, the minimum investment is 100 Notes ($1,000), and the estimated initial value is $9.67 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Target Corporation common stock, maturing on February 17, 2028. These unsecured debt notes can pay periodic contingent coupons only when Target’s share price on an observation date is at or above a preset coupon barrier.

If Target’s share price on any observation date before maturity is at or above the initial level, the notes are automatically called and pay back the $10 principal per note plus any due contingent coupon, with no further payments. If not called, and the final share level on February 15, 2028 is at or above a downside threshold, principal is repaid at par.

If the notes are not called and Target’s final share level is below the downside threshold, investors are fully exposed to the stock’s decline and can lose some or all of their investment. The notes will not be listed, require a minimum $1,000 purchase, and have an estimated initial value of $9.69 per $10 note, with all payments subject to UBS’s creditworthiness.