Every 424B that ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow AMUB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AMUB filings page.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation, maturing on February 3, 2028. These unsecured debt obligations pay a contingent coupon only when Microsoft’s closing level on an observation date is at or above a preset coupon barrier.
The notes can be automatically called early if Microsoft’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 applicable contingent coupon and no further payments. If the notes are not called and Microsoft’s final level is at or above the downside threshold, investors receive their principal back at maturity, potentially with a final contingent coupon.
If the notes are not called and the 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 hypothetical terms illustrate a 10.78% per annum contingent coupon and an 80% downside threshold and coupon barrier. The estimated initial value is $9.75 per $10 Note, the minimum investment is 100 Notes ($1,000), the notes will not be listed on any exchange, and all payments are subject to UBS’s creditworthiness.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Humana Inc., maturing on February 3, 2028. These unsecured debt notes pay contingent coupons only when Humana’s share price on an observation date is at or above a preset coupon barrier.
The notes are automatically called early if Humana’s stock closes at or above the initial level on any observation date before maturity, returning principal plus any due coupon and ending future payments. If not called, investors receive full principal at maturity only if the final stock level is at or above a downside threshold.
If the final level is below the downside threshold, repayment per $10 note is reduced in line with Humana’s percentage decline, and all principal can be lost. Payments depend on UBS’s credit; a default could result in a total loss. The notes are not listed, have a minimum $1,000 investment, and an estimated initial value of $9.77 per $10 note.
UBS AG is offering $700,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on February 5, 2029. These unsecured debt notes pay a contingent coupon only when CrowdStrike’s share price is at or above a preset coupon barrier on each observation date.
The notes can be called early if the stock closes at or above the initial level on any observation date, in which case investors receive principal plus the applicable coupon and no further payments. If not called and the final stock level is below the downside threshold, repayment at maturity is reduced in line with the stock’s decline, and the entire principal can be lost.
All payments depend on UBS’s credit, the notes will not be listed on any exchange, the minimum investment is 100 notes at $10 each, and the estimated initial value is $9.74 per note, reflecting UBS’s internal pricing and funding assumptions.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Humana Inc., maturing around February 3, 2028. These unsecured debt obligations pay a contingent coupon only when Humana’s closing level on an observation date, including the final valuation date, is at or above a specified coupon barrier.
The Notes may be automatically called before maturity if Humana’s share level on any observation date (other than the final one) is at or above the initial level. In that case, holders receive the principal amount plus any contingent coupon due, and no further payments are made.
If the Notes are not called and Humana’s final level is at or above the downside threshold, UBS repays the $10 principal per Note. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and holders can lose some or all of their investment. All payments depend on UBS’s creditworthiness, and the Notes are not insured, listed on an exchange, or equivalent to owning Humana shares. The estimated initial value per Note is expected to be between $9.42 and $9.67, reflecting UBS’s internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on or about February 5, 2029. These are unsecured debt obligations of UBS with a principal amount of $10 per Note, sold in minimums of 100 Notes.
The Notes pay a contingent coupon at 11.72% per annum (about $0.293 per period on a $10 Note) only if CrowdStrike’s closing level on each observation date is at or above the coupon barrier of $60.00, which is 60.00% of the initial level. The Notes are automatically called if the 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 the Notes are not called and the final level is at or above the downside threshold of $60.00, UBS repays the $10 principal plus the final coupon. If the final level is below the downside threshold, repayment is reduced to $10 × (1 + underlying return), exposing holders to the full downside of the stock and potentially a total loss of principal. All payments depend on UBS’s credit; the estimated initial value is between $9.37 and $9.62 per Note.
UBS AG is issuing $513,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Norwegian Cruise Line Holdings Ltd., maturing on August 3, 2027. The Notes are unsecured, unsubordinated debt of UBS and are not bank deposits or FDIC insured.
Holders receive contingent coupons only if the cruise line stock closes at or above a set coupon barrier on each observation date. The Notes are automatically called early if the stock closes at or above its initial level on any observation date before maturity, returning principal plus the applicable contingent coupon, with no further payments.
If the Notes are not called and the final stock level is at or above a downside threshold, investors receive only the $10 principal per Note at maturity. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their investment. All payments, including any principal, depend on UBS’s creditworthiness. The minimum investment is 100 Notes ($1,000), and the estimated initial value is $9.79 per Note.
UBS AG is offering $650,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on February 5, 2029. These unsecured debt notes pay contingent coupons only when the stock closes at or above a preset coupon barrier on observation dates.
The notes may be automatically called before maturity if the stock closes at or above its initial level on any observation date, in which case investors receive principal plus any due coupon and no further payments. If the notes are not called and the final stock level is below the downside threshold, repayment of principal is reduced in line with the stock’s decline, and investors can lose all of their investment.
All payments depend on the creditworthiness of UBS, the notes will not be listed on any exchange, the minimum investment is 100 notes at $10 each, and the estimated initial value per $10 note is $9.73 based on UBS’ internal pricing models.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Uber Technologies common stock, maturing on February 3, 2028. The Notes can pay a contingent coupon only when Uber’s share price on an observation date is at or above a preset coupon barrier.
The Notes may be automatically called early if Uber’s share price is at or above the initial level on any observation date before maturity, in which case investors receive $10 per Note plus the due coupon and no further payments. If not called, principal is repaid at maturity only if the final share price is at or above a downside threshold; below this level, repayment is reduced in line with Uber’s percentage decline, and investors can lose all of their investment.
The minimum investment is 100 Notes at $10 each, and a worked example uses a 13.62% per annum contingent coupon and a $70 coupon barrier and downside threshold. All payments depend on UBS’s credit; a default by UBS could result in a total loss regardless of Uber’s share performance.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Norwegian Cruise Line Holdings Ltd., with an expected term to about August 3, 2027. These are unsecured, unsubordinated debt obligations of UBS.
Investors may receive periodic contingent coupons only when the stock closes at or above a preset coupon barrier on each observation date. The notes can be called early if the stock closes at or above the initial level, returning principal plus the applicable coupon and ending further payments.
If the notes are not called and the stock finishes at or above a downside threshold on the final valuation date, investors receive full principal back (plus any final coupon if the coupon barrier is also met). If the final stock level is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose all principal.
The minimum investment is 100 notes at $10 each, and the estimated initial value per note on the trade date is expected between $9.41 and $9.66. All payments depend on UBS’s credit; a UBS default could result in a total loss regardless of the stock’s performance.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation. These are unsecured, unsubordinated debt obligations that can pay periodic contingent coupons only if the stock closes at or above a preset coupon barrier on each observation date.
The notes may be automatically called before maturity if the stock closes at or above the initial level on any observation date, in which case investors receive the principal plus any due contingent coupon and no further payments. If not called and the final stock level is at or above the downside threshold, investors receive back the $10 principal per note; if it is below, repayment is reduced in line with the stock’s decline and can fall to zero. Payments depend on UBS’s creditworthiness, the notes will not be listed on any exchange, minimum investment is 100 notes at $10 each, and the estimated initial value per note is between $9.35 and $9.60.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Uber Technologies, Inc., maturing on or about February 3, 2028. These are unsecured, unsubordinated debt obligations of UBS.
The notes can pay periodic contingent coupons only when Uber’s closing share price on an observation date is at or above a coupon barrier, set at 70% of the initial level in the illustrative examples. If Uber’s share price on any observation date before maturity is at or above the initial level, the notes are automatically called and repay principal plus the applicable contingent coupon, with no further payments.
If the notes are not called and Uber’s final share price on the February 1, 2028 valuation date is at or above the downside threshold (70% of the initial level in the examples), investors receive principal back and any final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with Uber’s percentage decline, and the entire investment can be lost.
The preliminary supplement highlights that investing involves significant market and credit risk. Any payment depends on UBS’s creditworthiness, the notes will not be listed on an exchange, and the estimated initial value per $10 note is expected to range from $9.47 to $9.72.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Dollar General Corporation, maturing on February 3, 2028. These are unsubordinated, unsecured debt obligations of UBS, not bank deposits and not FDIC insured.
The notes pay contingent coupons only when Dollar General’s closing level on an observation date is at or above a coupon barrier; otherwise no coupon is paid. If Dollar General’s level on any non-final observation date is at or above the initial level, the notes are automatically called, and investors receive principal plus any due coupon, with no further payments.
If the notes are not called and the final level is at or above a downside threshold, investors receive full principal at maturity (plus any final coupon). If the final level is below the downside threshold, repayment is reduced in line with Dollar General’s decline, potentially to zero. Any payment depends on UBS’s credit. The notes are not listed, have a minimum $1,000 investment, and an estimated initial value of $9.80 per $10 note.
UBS AG is offering $150,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on February 3, 2028. These unsecured debt securities pay contingent coupons only when Vistra’s closing stock price on an observation date is at or above a preset coupon barrier.
The notes can be automatically called before maturity if Vistra’s stock is at or above the initial level on any observation date, in which case investors receive principal plus the applicable coupon and the product terminates. If the notes are not called and the final stock level 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 Vistra’s percentage decline, and losses can reach 100% of the investment.
The offering specifies a $10 principal amount per note and a minimum investment of 100 notes, with an estimated initial value of $9.75 per $10 note based on UBS’s internal models. All payments, including any contingent coupons and principal, depend entirely on the creditworthiness of UBS, and the notes will not be listed on any exchange.
UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to Intel common stock, maturing on February 3, 2028. These unsecured UBS debt securities pay a high contingent coupon only when Intel’s closing price is at or above a preset coupon barrier on each observation date.
The notes can be called early if Intel’s price is at or above the initial level on any observation date, returning principal plus the applicable coupon and ending further payments. If not called and Intel’s final level is at or above the downside threshold, investors receive only the $10 principal per note at maturity.
If the notes are not called and Intel’s final level is below the downside threshold, repayment is reduced in line with Intel’s percentage loss, and investors can lose their entire investment. Payments depend on UBS’s credit; the notes are not listed, require a $1,000 minimum, 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 Dollar General Corporation, maturing on or about February 3, 2028. Each Note has a principal amount of $10, with a minimum investment of 100 Notes.
Investors may receive periodic contingent coupons only when the underlying stock closes at or above a specified coupon barrier on each observation date. The Notes are automatically called early if the stock closes at or above its initial level on any observation date before the final valuation date, in which case holders receive principal plus the applicable contingent coupon and no further payments.
If the Notes are not called and the final stock level is at or above a downside threshold, principal is repaid at maturity. If the final level is below that threshold, repayment is reduced in line with the stock’s loss, and investors could lose their entire investment. All payments depend on the creditworthiness of UBS. The estimated initial value per Note is expected to be between $9.45 and $9.70.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, maturing on February 3, 2028. Each Note has a $10 principal amount and pays a high contingent coupon of 17.93% per annum (about $0.4483 per quarter) only when Fluor’s share price on an observation date is at or above a preset coupon barrier.
The Notes can be automatically called on any observation date before maturity if Fluor’s stock is at or above the initial level. In that case, holders receive the $10 principal plus the applicable contingent coupon and the Notes terminate early.
If the Notes are not called and, on the final valuation date, Fluor’s stock is at or above the downside threshold, investors receive back the $10 principal (plus any final contingent coupon if the price is also above the coupon barrier). If the stock finishes below the downside threshold, repayment is reduced dollar-for-dollar with the stock’s percentage decline, and investors can lose their entire investment.
The minimum investment is 100 Notes ($1,000). The Notes are unsecured, unsubordinated debt of UBS, not listed on any exchange, and all payments depend on UBS’s credit; a UBS default could result in a total loss regardless of Fluor’s share performance. UBS estimates the initial value of each Note at $9.69, reflecting internal pricing and funding.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on or about February 3, 2028. These are unsubordinated, unsecured debt obligations of UBS, not bank deposits and not FDIC insured.
Investors may receive periodic contingent coupons only when the Vistra stock closing level on an observation date is at or above a preset coupon barrier. If the stock closes at or above the initial level on any observation date before maturity, the notes are automatically called and pay back principal plus the applicable contingent coupon, with no further payments.
If the notes are not called and the final stock level is at or above a downside threshold, UBS repays the $10 principal amount per note at maturity, potentially with a final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose most or all of their initial investment.
The preliminary examples illustrate a contingent coupon rate of 12.89% per annum and show how returns can range from modest gains to severe losses. All payments depend on UBS’s creditworthiness; a UBS default could result in a total loss regardless of Vistra’s performance.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Target Corporation stock, maturing February 3, 2028. These unsecured debt notes can pay contingent coupons only when Target’s share price on an observation date is at or above a preset coupon barrier.
The notes may be automatically called before maturity if Target’s stock closes at or above the initial level on any observation date. In that case, investors receive the $10 principal per note plus the applicable contingent coupon, and the product terminates with no further payments.
If the notes are not called and Target’s final stock level is at or above the downside threshold, investors get back the $10 principal per note, potentially with a final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and all principal can be lost.
The notes embed significant market and credit risk, differ from conventional bonds, and will not be listed on an exchange. The minimum investment is 100 notes at $10 each, and the estimated initial value per note is $9.80, based on UBS’s internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, maturing on or about February 3, 2028. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not FDIC insured.
Investors may receive periodic contingent coupons only if Intel’s closing share price on each observation date is at or above a preset coupon barrier. The notes can be automatically called early if Intel’s share price is at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable coupon and no further payments.
If the notes are not called and Intel’s final share price is at or above the downside threshold, investors receive full principal at maturity, plus any final contingent coupon. If the final share price is below the downside threshold, repayment is reduced in line with Intel’s percentage decline and investors can lose some or all of their initial investment. All payments depend on UBS’s creditworthiness.
The notes are expected to trade on a T+2 settlement at issuance, will not be listed on any exchange, have a minimum investment of 100 notes at $10 each, and an estimated initial value between $9.44 and $9.69 per note based on UBS internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Generac Holdings Inc. These are unsecured debt obligations that pay contingent coupons only when Generac’s share price is at or above a preset coupon barrier on observation dates.
The notes can be called early if Generac’s share price is at or above the initial level on any observation date, in which case investors receive principal plus the contingent coupon and no further payments. If the notes are not called and Generac’s final share price is at or above the downside threshold at maturity, investors receive principal back, potentially with a final coupon.
If the notes are not called and Generac’s final share price is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all of their investment. All payments also depend on the creditworthiness of UBS. The notes are offered at $10 per note, with a minimum $1,000 investment, and an estimated initial value of $9.56 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, maturing on or about February 3, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes.
Investors receive contingent coupons only when Fluor’s closing level on an observation date is at or above a coupon barrier. The Notes may be automatically called early if the stock closes at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and no further payments.
If the Notes are not called and the final level is at or above a downside threshold, principal is repaid at maturity; if it is below this threshold, repayment is reduced in line with the stock’s decline and investors could lose their entire investment. Any payment depends on the creditworthiness of UBS. The estimated initial value per $10 Note is expected to be between $9.39 and $9.64.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Target Corporation, maturing on or about February 3, 2028. These unsecured debt notes pay contingent coupons only when Target’s share price on an observation date is at or above a preset coupon barrier.
The notes are automatically called early if Target’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 no further payments. If the notes are not called and Target’s final share level is at or above a downside threshold, investors receive only principal back.
If the notes are not called and Target’s final share level is below the downside threshold, repayment is reduced in line with Target’s percentage decline, and investors can lose all of their investment. Payments depend on UBS’s credit. The notes are not listed, have a minimum purchase of 100 notes at $10 each, and an estimated initial value between $9.45 and $9.70 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Norwegian Cruise Line Holdings Ltd., maturing on February 3, 2028. These are unsecured debt obligations of UBS, not conventional bonds and not principal-protected.
Investors receive a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date. The notes are automatically called early if the stock is at or above its initial level on any observation date, in which case investors receive principal plus the applicable coupon and the product terminates.
If not called, and the final stock level is at or above the downside threshold, investors receive only their principal (plus any final coupon). If the final level is below the downside threshold, repayment is reduced in line with the stock’s loss, and investors can lose all of their investment. Payments also depend on UBS’s credit; a default by UBS could result in total loss.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Generac Holdings Inc., maturing on or about February 5, 2029. These are unsecured, unsubordinated debt obligations whose payments depend on both Generac’s share performance and UBS’s creditworthiness.
Investors receive a contingent coupon only when the stock closes at or above a coupon barrier on set observation dates. The notes are automatically called early if the stock closes at or above the initial level on any observation date before maturity, returning principal plus the applicable coupon but ending future payments.
If the notes are not called and the final stock level is at or above a downside threshold, principal is repaid at maturity; if it is below, repayment is reduced in line with the stock’s percentage decline, and investors could lose their entire investment. The minimum investment is 100 notes at $10 each, and the estimated initial value per note on the trade date is expected between $9.20 and $9.45, reflecting UBS internal pricing models.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Baidu, Inc., maturing on February 3, 2028. Each Note has a $10 principal amount and pays a high contingent coupon of 19.16% per annum when conditions are met.
Coupons are paid only if Baidu’s ADR closing level on an observation date is at or above a coupon barrier set at 70% of the initial level. The Notes are automatically called early if the ADR closes at or above the initial level on any observation date, returning principal plus the coupon then due.
If not called and the final level is at or above the downside threshold (also 70% of the initial level), investors receive principal back at maturity, plus any final coupon if the barrier is met. If the final level is below the downside threshold, repayment is reduced in line with Baidu’s negative return, and the entire $10 per Note can be lost.
The Notes are unsubordinated, unsecured debt of UBS, so all payments depend on UBS’s credit. They are not listed on any exchange, have a minimum investment of 100 Notes (or $1,000), and the estimated initial value per Note is $9.78, reflecting UBS’s internal pricing and funding costs.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Lennar Corporation common stock, maturing on February 3, 2028. These unsecured debt notes pay a contingent coupon only if Lennar’s share price is at or above a preset coupon barrier on each observation date.
The notes can be automatically called early if Lennar’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 applicable contingent coupon and no further payments. If the notes are not called and the final stock level is at or above the downside threshold, investors receive their principal back, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all of their investment. All payments depend on UBS’s creditworthiness, and the notes are not listed on any exchange. The estimated initial value per note is $9.79.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Norwegian Cruise Line Holdings Ltd. The Notes are unsecured debt of UBS with a scheduled maturity on about February 3, 2028, and a denomination of $10 per Note with a minimum investment of 100 Notes.
Investors receive contingent coupons only when the stock closes at or above a coupon barrier on observation dates. The Notes can be automatically called early if the stock is at or above its initial level, in which case investors receive principal plus the applicable coupon and no further payments. If the Notes are not called and the final stock level is below a downside threshold, repayment at maturity is reduced in line with the stock’s decline and can fall to zero, resulting in total loss of principal.
An example illustration uses a contingent coupon rate of 19.09% per annum and a downside threshold and coupon barrier at 70% of the initial level. UBS estimates the initial value of each Note on the trade date will be between $9.41 and $9.66, reflecting its internal pricing models and funding rate. All payments depend on UBS’s creditworthiness, and the Notes will not be listed on any exchange.
UBS AG is offering $577,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of First Solar, Inc., maturing on February 5, 2029. These unsecured notes pay a 17.91% per annum contingent coupon only when the stock closes at or above a coupon barrier, shown in examples as 60% of the initial level ($60.00).
The notes can be automatically called quarterly, starting after six months, if the stock is at or above its initial level, returning principal plus any due coupon. If not called and the final stock level is below the downside threshold (also 60% in the examples), repayment is reduced in line with the stock’s percentage decline, and all principal can be lost. Payments depend on UBS’s credit, the notes are not listed, the minimum investment is 100 notes at $10 each, and the estimated initial value per note is $9.73.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Baidu, Inc., maturing on or about February 3, 2028. These are unsubordinated, unsecured debt obligations of UBS.
The Notes pay a contingent coupon only when the Baidu ADR closes at or above a coupon barrier, illustrated as 70% of the initial level, at each observation date. An automatic call occurs if the ADR closes at or above the initial level on any observation date before maturity, returning the $10 principal per Note plus the applicable contingent coupon, after which no further payments are made.
If the Notes are not called and the final Baidu level is at or above the downside threshold (illustrated as 70% of the initial level), 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 Baidu’s decline, and investors can lose up to 100% of principal.
The Notes are subject to UBS credit risk, will not be listed on any exchange, and are intended for investors who understand the structure and can tolerate the possibility of no coupons and substantial loss. Illustrative terms include a 16.70% per annum contingent coupon rate, a minimum investment of 100 Notes at $10 each, and an estimated initial value per Note between $9.43 and $9.68.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lennar Corporation, maturing on or about February 3, 2028. These unsecured debt obligations pay contingent coupons only when Lennar’s share price on an observation date is at or above a preset coupon barrier.
The notes may be automatically called before maturity if Lennar’s stock closes at or above the initial level on any observation date, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and Lennar’s final share price is at or above a downside threshold, investors receive only their principal back.
If the notes are not called and Lennar’s final share price is below the downside threshold, repayment is reduced in line with the stock’s negative return, and investors can lose all of their initial investment. Payments depend on UBS’s creditworthiness. The notes are not listed, require a minimum investment of 100 notes at $10 each, and have an estimated initial value between $9.43 and $9.68 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of First Solar, Inc., maturing on or about February 5, 2029. These unsecured debt notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on quarterly observation dates.
The notes are automatically called early if First Solar’s stock closes at or above the initial level on any observation date after about six months, in which case investors receive principal plus the applicable coupon and no further payments. If not called and the final stock level is at or above a downside threshold, investors receive the $10 principal per note at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The preliminary examples reference a contingent coupon rate of 16.48% per annum, a $10 denomination and a downside threshold and coupon barrier set at 60.00% of the initial level, illustrating both capped income potential and substantial downside risk. The estimated initial value is expected to range between $9.36 and $9.61 per $10 note, reflecting UBS’s internal pricing and funding. Any payment depends on UBS’s credit; the notes are not bank deposits and are not insured, and investors may lose a significant portion or all of their investment.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Freeport-McMoRan Inc. common stock, maturing February 3, 2028. These unsecured debt notes pay a contingent coupon only when the stock closes at or above a preset coupon barrier on observation dates.
The notes can be 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 and ending further payments. If not called and the final stock level is at or above the downside threshold, investors receive full principal back at maturity.
If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose some or all of their investment. Payments depend on UBS’s credit, the notes will not be listed, the minimum investment is $1,000, and the estimated initial value is $9.79 per $10 note.
UBS AG is offering $974,000 of Trigger Autocallable Contingent Yield Notes linked to Starbucks common stock, maturing on February 5, 2029. These notes pay a contingent coupon only when Starbucks’ share price on an observation date is at or above a set coupon barrier, with a 9.83% per annum illustrative rate.
The notes can be called early if Starbucks’ stock closes at or above its initial level on any observation date, returning principal plus the applicable coupon and ending the investment. If not called and the final stock level is at or above a downside threshold, investors receive principal back; if it is below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
All payments depend on UBS’s credit, the notes are not listed on an exchange, the minimum investment is 100 notes at $10 each, and the estimated initial value per note is $9.73.
UBS AG is offering $3,215,000 of Trigger Autocallable Contingent Yield Notes linked to Intel common stock, maturing February 5, 2029. These unsecured notes pay a contingent coupon only when Intel’s closing level on an observation date is at or above a preset coupon barrier.
If Intel’s level on any observation date before maturity is at or above the initial level, the notes are automatically called and investors receive principal plus the applicable contingent coupon, with no further payments. If never called and the final level is at or above a downside threshold, investors receive full principal back at maturity.
If the notes are not called and Intel’s final level falls below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose most or all of their investment. All payments depend on UBS’s credit, and the estimated initial value per $10 note is $9.76.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport‑McMoRan Inc., maturing on or about February 3, 2028. These unsecured debt notes can pay periodic contingent coupons if the stock closes at or above a preset coupon barrier on scheduled observation dates.
The notes may be automatically called early if the stock closes at or above its initial level on any observation date before maturity, returning principal plus the applicable coupon, with no further payments. If not called and the final stock level is at or above a downside threshold, investors receive their $10 principal per note at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The notes are subject to UBS credit risk, will not be listed on an exchange, and may offer limited liquidity. The estimated initial value per note on the trade date is expected to be between $9.46 and $9.71, below the $10 issue price, reflecting internal funding and fees.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Starbucks Corporation, with a scheduled maturity around February 5, 2029. These unsecured notes pay contingent coupons only when the stock closes at or above a preset coupon barrier on observation dates.
The notes are automatically called if Starbucks stock closes at or above the initial level on any observation date before final valuation, returning principal plus the due coupon. If not called and the final stock level is below a downside threshold, investors incur losses matching the stock’s decline and can lose their entire investment. Payments depend on UBS’s credit, the notes will not be listed, the minimum investment is 100 notes at $10 each, and the estimated initial value is expected between $9.35 and $9.60 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. stock, maturing February 3, 2028. These unsecured debt notes pay a contingent coupon only when Marvell’s closing share price on an observation date is at or above a preset coupon barrier.
The notes can be automatically called before maturity if Marvell’s share price on an observation date is at or above the initial level, in which case holders receive the $10 principal per note plus any due coupon and no further payments. If not called and the final share price is at or above the downside threshold, investors receive principal back at maturity.
If the notes are not called and the final price is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and all principal can be lost. An example uses a 24.54% per annum contingent coupon, a downside threshold and coupon barrier at 70% of the initial level, and a minimum investment of 100 notes at $10 each. All payments depend on UBS’s credit, and the estimated initial value is $9.73 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., maturing on February 3, 2028, in a $10 denomination (minimum $1,000 investment). These unsecured debt notes pay a contingent coupon only when Netflix’s share price on an observation date is at or above a preset coupon barrier.
The notes are automatically called early, and repay principal plus any due coupon, if Netflix’s share price on any observation date before maturity is at or above the initial level. If not called and the final share price is at or above a downside threshold, investors receive principal back; if it is below the downside threshold, repayment is reduced in line with Netflix’s percentage decline, up to a total loss of principal.
All payments depend on UBS’s creditworthiness, and the notes will not be listed on any exchange. The estimated initial value is $9.85 per $10 note, reflecting UBS’s internal pricing models and funding rate.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, maturing on or about February 5, 2029. Each Note has a $10 principal amount, with a minimum investment of 100 Notes (a $1,000 purchase).
Investors receive a contingent coupon only if Intel’s closing level on an observation date is at or above the coupon barrier; otherwise, no coupon is paid. The Notes are automatically called if Intel’s level on any observation date before maturity is at or above the initial level, returning principal plus the contingent coupon due for that date.
If the Notes are not called and Intel’s final level is at or above the downside threshold, UBS repays principal 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 Intel’s negative return, and investors can lose all principal. An example uses a 13.71% per annum contingent coupon rate and barriers set at 50% of the initial level.
The estimated initial value of the Notes on the trade date is expected between $9.37 and $9.62 per $10 Note, reflecting UBS’s internal pricing. Payments depend on UBS’s credit; a default could result in a total loss. The Notes will not be listed on an exchange and may be difficult to sell before maturity.
UBS AG is offering $700,000 of Trigger Autocallable Contingent Yield Notes linked to Dell Technologies common stock, maturing on February 5, 2029. These unsecured notes pay a contingent coupon only when Dell’s share price on an observation date is at or above a preset coupon barrier.
The notes can be called early if Dell’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 contingent coupon and no further payments. If not called and Dell’s final share level is at or above the downside threshold (60.00% of the initial level, illustrated as $60.00), principal is repaid, with a final contingent coupon if the coupon barrier is also met.
If the notes are not called and Dell’s final share level is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and investors can lose their entire investment. An example uses a 16.09% per annum coupon rate, paying $0.4023 per $10 note per period when conditions are met. The estimated initial value is $9.71 per $10 note, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on or about February 3, 2028. The trade date is expected to be January 30, 2026, with settlement on February 3, 2026.
The Notes pay contingent coupons only if Marvell’s stock closes at or above a specified 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 applicable coupon and ending the investment.
If the Notes are not called and the final stock level is at or above the downside threshold, investors receive their principal back at maturity. If the final level 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 are not listed, require a minimum investment of 100 Notes at $10 each, and have an estimated initial value between $9.43 and $9.68 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., maturing on or about February 3, 2028. These unsecured debt notes pay contingent coupons only when Netflix’s closing price on an observation date is at or above a preset coupon barrier.
The notes are automatically called early if Netflix’s closing level on any observation date before maturity is at or above the initial level, returning principal plus the due coupon and ending the investment. If not called and the final level is at or above a downside threshold, investors receive the $10 principal per note at maturity, plus any final coupon.
If the notes are not called and Netflix’s final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose some or all of their initial investment. Payments depend on UBS’s credit, the notes will not be listed on an exchange, the minimum investment is 100 notes at $10 each, and the estimated initial value per note is expected between $9.50 and $9.75.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing around February 5, 2029. The notes pay contingent coupons only if Dell’s share price on scheduled observation dates is at or above a preset coupon barrier.
The notes are automatically called early if Dell’s stock closes at or above the initial level on any observation date before final valuation, 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 stock level is at or above a downside threshold; otherwise, repayment is reduced in line with Dell’s decline and can fall to zero. The notes carry UBS credit risk, will not be listed on an exchange, require a minimum investment of 100 notes at $10 each, and have an estimated initial value between $9.33 and $9.58 per note based on UBS internal pricing models.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc., maturing on February 3, 2028. These unsecured debt notes pay a contingent coupon only when DexCom’s share price on an observation date is at or above a preset coupon barrier.
The notes may be called early if DexCom’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable contingent coupon and no further payments. If the notes are not called and DexCom’s final level is at or above the downside threshold, investors receive full principal 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 DexCom’s percentage decline, and investors can lose all of their investment.
Illustrative terms include a $10 principal amount per note, a term of approximately two years and a contingent coupon rate of 17.75% per annum, paid only when conditions are met. The estimated initial value is $9.80 per $10 note, reflecting UBS’s internal pricing. All payments depend on UBS’s credit; a UBS default could result in total loss. The notes are not listed on any exchange and are sold in minimums of 100 notes.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Microsoft common stock, maturing on February 3, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes, and an estimated initial value of $9.75 per Note.
The Notes pay a contingent coupon, illustrated at 10.78% per annum ($0.539 per period), only if Microsoft’s share price on an observation date is at or above the coupon barrier, set at 80% of the initial level. UBS will automatically call the Notes early if the share price on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon.
If the Notes are not called and Microsoft’s final share price is at or above the downside threshold (also 80% of the initial level), investors receive full principal back, plus a final contingent coupon if the barrier is met. If the final price is below the downside threshold, repayment is reduced in line with the stock’s negative return, and investors can lose all of their initial investment. All payments depend on UBS’s credit; the Notes are unsecured, unsubordinated obligations, not insured, and will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc., maturing on or about February 3, 2028. These unsecured, unsubordinated debt obligations pay coupons only if DexCom’s stock closes at or above a preset coupon barrier on observation dates.
The notes may be automatically called before maturity if DexCom’s stock closes at or above the initial level on any observation date, in which case investors receive principal plus the applicable contingent coupon and no further payments. If the notes are not called and DexCom’s final stock level is below the downside threshold, investors incur a loss matching the stock’s decline and can lose their entire principal. All payments depend on UBS’s creditworthiness, and the notes are not listed on any exchange.
UBS AG is offering $6,493,000 of Trigger Callable Contingent Yield Notes linked to the worst-performing of three equity indexes: the Nasdaq-100 Technology Sector, the Russell 2000 Index and the S&P 500 Index, maturing August 2, 2027.
The notes pay a contingent coupon at a rate of 11.85% per annum ($9.875 per $1,000 note each month) only when, on an observation date, all three indexes close at or above 70% of their initial levels. UBS can call the notes on any monthly observation date after three months, then repays principal plus that period’s coupon.
If the notes are not called and at maturity any index finishes below its 70% downside threshold, investors receive $1,000 multiplied by 1 plus the return of the worst-performing index, which can mean a large loss or complete loss of principal. All payments depend on UBS’s ability to meet its obligations as an unsecured senior debt issuer.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Microsoft Corporation, with a trade date of January 30, 2026 and maturity on or about February 3, 2028. These are unsubordinated, unsecured debt obligations of UBS.
The notes pay a contingent coupon only when Microsoft’s closing level on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period. If Microsoft’s level on any observation date before the final valuation date is at or above the initial level, the notes are automatically called and repay principal plus that period’s contingent coupon, with no further payments.
If the notes are not called and Microsoft’s final level on the February 1, 2028 valuation date is at or above a downside threshold, investors receive full principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all principal. All payments depend on UBS’s credit. The notes are not listed, have a minimum investment of 100 notes at $10 each, and an estimated initial value between $9.45 and $9.70 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., maturing on February 3, 2028. These unsecured debt securities pay contingent coupons only when Snowflake’s closing level on an observation date is at or above a preset coupon barrier.
The notes can be automatically called early if Snowflake’s stock closes at or above the initial level on any observation date before maturity, returning principal plus the applicable contingent coupon, with no further payments. If not called and Snowflake’s final level is at or above the downside threshold, investors receive only principal back at maturity.
If the notes are not called and Snowflake’s final level is below the downside threshold, repayment is reduced in line with the stock’s negative return, and investors can lose all of their investment. The notes are not listed, carry UBS credit risk, and have an estimated initial value of $9.73 per $10 note.
UBS AG is offering $800,000 of Trigger Autocallable Contingent Yield Notes linked to DexCom, Inc. common stock, maturing on February 5, 2029. These unsecured debt securities pay a contingent coupon only when DexCom’s share price on an observation date is at or above a preset coupon barrier.
The notes are automatically called early if DexCom’s closing price on any observation date before maturity is at or above the initial level, in which case investors receive principal plus any due coupon and no further payments. If the notes are not called and DexCom’s final price is below the downside threshold, repayment is reduced in line with the share price decline and can fall to zero.
The notes will not be listed on any exchange, and all payments depend on UBS’s credit. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.72 per note, reflecting UBS’s internal pricing and funding assumptions.