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 Advanced Micro Devices, Inc. common stock, maturing on January 28, 2028. Each Note has a principal amount of $10, with a minimum investment of 100 Notes.
Investors receive a contingent coupon only if AMD’s closing share price on an observation date is at or above a specified coupon barrier. The Notes are automatically called early if AMD’s share price on any observation date before final valuation is at or above the initial level, in which case UBS repays principal plus the due contingent coupon and no further payments are made.
If not called and AMD’s final share price is at or above the downside threshold, UBS repays the $10 principal per Note at maturity, potentially with a final contingent coupon. If the final price is below the downside threshold, repayment is reduced in line with AMD’s percentage decline, and investors can lose all of their investment. All payments depend on UBS’s credit and the Notes are not listed on any exchange. The estimated initial value per Note is $9.75.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Albemarle Corporation common stock, maturing on January 29, 2029. These unsecured debt notes pay a contingent coupon only when Albemarle’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be automatically called early if Albemarle’s share price on any observation date (before the final valuation date) is at or above the initial level, in which case holders receive the $10 principal per Note plus any due coupon and the product terminates. If not called and Albemarle’s final share level is at or above a downside threshold, principal is repaid at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero, causing a total loss. The estimated initial value is $9.70 per $10 Note, the minimum investment is 100 Notes ($1,000), the offering size is $200,000, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the iShares Silver Trust ETF. These are unsecured debt obligations that can pay periodic contingent coupons, but only if the ETF’s closing level on each observation date is at or above a preset coupon barrier.
The notes may be automatically called early if the ETF’s level on an observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due contingent coupon and the product terminates. If the notes are not called and, on the final valuation date, the ETF’s level is at or above a downside threshold, investors receive back the principal, with a contingent coupon if the barrier is met.
If the notes are not called and the final ETF level is below the downside threshold, repayment is reduced in line with the ETF’s loss, and investors can lose some or all of their principal. All payments depend on the creditworthiness of UBS, and the notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The notes are unsecured debt of UBS and pay a contingent coupon only when AMD’s closing level on an observation date is at or above a preset coupon barrier.
The notes can be called early: if AMD’s closing level on any observation date before maturity is at or above its initial level, UBS repays the $10 principal per note plus any due coupon, and the product ends. If the notes are not called and AMD’s final level on January 26, 2028 is at or above the downside threshold, investors receive their $10 principal back, plus a final coupon if AMD is also above the coupon barrier.
If the notes are not called and AMD’s final level is below the downside threshold, repayment is reduced in line with AMD’s percentage decline, and investors can lose their entire investment. An example shows a contingent coupon rate of 18.40% per year with a downside threshold and coupon barrier at $60. UBS estimates the initial value between $9.45 and $9.70 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 Albemarle Corporation, maturing on or about January 29, 2029. These unsecured debt securities pay a contingent coupon only if Albemarle’s share price on an 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 Albemarle’s stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the 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, investors receive only the principal (plus any final contingent coupon if the barrier is met).
If the notes are not called and the final stock level is below the downside threshold, repayment is reduced in line with Albemarle’s negative return, and investors can lose most or all of their investment. Payments depend entirely on UBS’s credit, the notes will not be listed on any exchange, the estimated initial value per $10 note is between $9.36 and $9.61, and the minimum investment is 100 notes at $10 each.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to shares of the iShares ae Silver Trust, maturing on or about January 28, 2028. The Notes pay a contingent coupon on each observation date only if the ETF closes at or above a specified coupon barrier; otherwise no coupon is paid.
The Notes are automatically called early if the ETF closes at or above its initial level on any observation date before final valuation, returning principal plus any due coupon with no further payments. If not called, and the final level is at or above the downside threshold, investors receive principal at maturity; if it is below that threshold, repayment is reduced in line with the ETFs decline and can fall to zero. The minimum investment is 100 Notes at $10 each, the estimated initial value is expected between $9.39 and $9.64 per Note, the Notes will not be listed, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $250,000 of Trigger Autocallable Contingent Yield Notes linked to the iShares MSCI Brazil ETF, maturing on January 29, 2029. These unsecured, unsubordinated notes pay a contingent coupon only when the ETF closes at or above a preset coupon barrier on an observation date; otherwise no coupon is paid.
The notes may be automatically called early if the ETF closes at or above its initial level on any observation date before maturity, returning the $10 principal per note plus the applicable contingent coupon, with no further payments. If not called, you receive full principal back at maturity only if the final ETF level is at or above a downside threshold, set at 80% of the initial level in the examples.
If the notes are not called and the final ETF level is below the downside threshold, repayment is reduced in line with the ETF’s percentage loss, and you can lose some or all of your investment. The illustrated contingent coupon rate is 10.28% per year (about $0.257 per quarter on a $10 note). Payments depend on UBS’s credit, and the notes will not be listed on any exchange. The estimated initial value is $9.64 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to DraftKings Inc. common stock, maturing January 28, 2028. These unsecured, unsubordinated notes pay a contingent coupon only if DraftKings’ 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 DraftKings’ stock closes at or above the initial level on any observation date before maturity, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and the final stock level is at or above a downside threshold, investors receive only their principal at maturity; if it is below that threshold, repayment is reduced in line with the share-price decline, and all principal can be lost.
The notes are subject to UBS’s credit risk, will not be listed on an exchange, have a minimum investment of 100 notes at $10 each, and an estimated initial value of $9.61 per $10 note, reflecting internal pricing and funding assumptions.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the iShares MSCI Brazil ETF, maturing on or about January 29, 2029. These unsecured debt notes may pay periodic contingent coupons only if the ETF’s closing level on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes are subject to an automatic call if, on any observation date before maturity, the ETF’s level is at or above the initial level. In that case, investors receive the $10 principal per note plus any due coupon, and the investment ends early. If the notes are not called and the ETF’s final level on January 25, 2029 is at or above the downside threshold, investors receive their $10 principal per note (and a final coupon if the ETF is also above the coupon barrier).
If the notes are not called and the final level is below the downside threshold, repayment is reduced in line with the ETF’s decline, and investors can lose most or all of their principal. The notes will not be listed, require a minimum investment of 100 notes at $10 each, and have an estimated initial value between $9.35 and $9.60 per $10 note. All payments depend on the creditworthiness of UBS.
UBS AG is offering $449,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc., maturing on January 29, 2029.
The Notes pay a contingent coupon only if, on each observation date (including the final valuation date), the stock closes at or above a preset coupon barrier; otherwise no coupon is paid for that period. The Notes are automatically called early if the stock closes at or above its initial level on any observation date before maturity, in which case holders receive the $10 principal per Note plus any due coupon, and no further payments.
If the Notes are not called and the final stock level is at or above the downside threshold, UBS repays the $10 principal per Note, plus the final contingent coupon if the coupon barrier is also met. If the final level is below the downside threshold, principal is reduced in line with the stock’s decline and can fall to zero, leading to a complete loss. All 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 is $9.64 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to DraftKings Inc. common stock, maturing around January 28, 2028. These unsecured debt notes pay a contingent coupon only on observation dates when the stock closes at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be called early if DraftKings’ share price on any observation date (before the final one) is at or above the initial level. In that case, investors receive their $10 principal per Note plus the applicable contingent coupon on the call settlement date, and the notes terminate.
If the notes are not called and the final stock level is at or above a downside threshold, investors receive their full principal at maturity, with a contingent coupon if the final level also meets the coupon barrier. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and the entire investment can be lost.
The minimum investment is 100 Notes at $10 each, and the estimated initial value per $10 Note is expected to be between $9.31 and $9.56, reflecting UBS’s internal pricing and funding. All payments depend on UBS’s credit; a UBS default could result in total loss.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Ralph Lauren Corporation, maturing January 28, 2027. These unsecured, unsubordinated debt notes can pay periodic contingent coupons, but only if the stock closes on 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 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 a downside threshold, principal is repaid at maturity. If the final level is below this threshold, repayment is reduced in line with the stock’s percentage decline and can fall to zero, causing a total loss of principal.
Any payment, including coupons and principal, depends on UBS’s creditworthiness. The notes are not listed on an exchange, require a minimum $1,000 investment, and have an estimated initial value of $9.77 per $10 note, based on UBS’s internal models.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to Oracle common stock, maturing January 28, 2027. These unsecured debt notes can pay periodic contingent coupons, but only when Oracle’s closing share price on an observation date is at or above a preset coupon barrier. The notes are automatically called early if Oracle’s price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal per Note plus any due coupon and no further payments.
If the notes are not called and Oracle’s final price on the January 26, 2027 final valuation date is at or above the downside threshold, investors receive full principal back, potentially with a final coupon. If the final price is below the downside threshold, repayment is reduced in line with Oracle’s percentage decline, and the entire investment can be lost. The notes are not listed, are subject to UBS credit risk, and their estimated initial value is $9.80 per $10 Note.
UBS AG is offering $230,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on January 29, 2029. The Notes pay a contingent coupon at a rate of 21.15% per annum (about $0.5288 per $10 Note per period) only when AMD’s closing share price on an observation date is at or above a coupon barrier set at 65% of the initial level.
The Notes are automatically called early if AMD’s price on an observation date before maturity is at or above the initial level, in which case holders receive $10 per Note plus the applicable coupon and no further payments. If the Notes are not called and AMD’s final level on the valuation date is at or above the same 65% downside threshold, UBS repays the $10 principal plus the final coupon. If the final level is below the downside threshold, repayment is reduced one-for-one with AMD’s decline, and the entire principal can be lost.
The Notes are unsecured, unsubordinated debt of UBS, not listed on any exchange, sold in minimums of 100 Notes at $10 each, and have an estimated initial value of $9.72 per Note. All payments depend on UBS’s creditworthiness in addition to AMD share performance.
UBS AG is offering preliminary terms for Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc., maturing on or about January 29, 2029. These unsecured debt obligations pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid for that period.
The notes can be called early if the stock closes at or above the initial level on any observation date before maturity, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and the final stock level is at or above a downside threshold, investors receive the $10 principal per note at maturity, but if it is below the threshold they incur a loss matching the stock’s percentage decline and could lose their entire investment.
The notes are issued in minimums of 100 notes at $10 each and will not be listed on any exchange. The estimated initial value per note on the trade date is expected to be between $9.27 and $9.52, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Ralph Lauren Corporation, with a scheduled maturity around January 28, 2027. These unsecured debt notes pay a contingent coupon only if the stock closes at or above a specified coupon barrier on each observation date; otherwise no coupon is paid.
The notes can be automatically called early if the stock closes at or above its initial level on any observation date before the final valuation date, 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, investors receive only their principal back. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and all principal can be lost. Payments depend on UBS’s credit, and the notes will not be listed on an exchange. The preliminary supplement includes a hypothetical example using a $10 denomination and a 10.77% per annum contingent coupon rate to illustrate potential outcomes.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, with a scheduled maturity on or about January 28, 2027. Each Note has a $10 principal amount and is designed to pay a contingent coupon only if Oracle’s closing share price on an observation date is at or above a preset coupon barrier.
The Notes are subject to an automatic call if, on any observation date before the final valuation date, Oracle’s share price is at or above the initial level. In that case, investors receive $10 per Note plus the contingent coupon due, and the Notes terminate early. If not called and the final share price is at or above the downside threshold, investors receive only the $10 principal plus any final contingent coupon.
If the Notes are not called and Oracle’s final share price is below the downside threshold, the repayment is reduced in line with the negative stock performance, and investors can lose some or all of their initial investment. Payments depend entirely on UBS’s ability to meet its obligations. The Notes will not be listed, have an expected minimum investment of 100 Notes ($1,000), and an estimated initial value between $9.44 and $9.69 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on or about January 29, 2029. These unsecured debt notes pay a contingent coupon only if the AMD 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 AMD’s share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus the applicable contingent coupon and no further payments. If the notes are not called and AMD’s final share price is at or above the downside threshold, investors receive their principal back; if it is below the downside threshold, repayment is reduced in line with AMD’s decline and can fall to zero.
The notes are subject to UBS credit risk and are not insured. The minimum investment is 100 notes at $10 each, and the estimated initial value per note on the trade date is expected to be between $9.37 and $9.62.
UBS AG is offering $378,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on January 28, 2028.
The Notes pay a contingent coupon at a rate of 24.08% per annum (about $0.602 per $10 Note per period) only when Micron’s share price on an observation date is at or above a coupon barrier set at 50% of the initial level. UBS will automatically call the Notes early if Micron’s share price on any observation date before maturity is at or above the initial level, returning the $10 principal per Note plus any due coupon.
If the Notes are not called and Micron’s final share price is at or above the downside threshold (also 50% of the initial level), investors receive their $10 principal back at maturity plus any final coupon. If the final price is below the downside threshold, repayment falls in line with Micron’s loss, and all principal can be lost. Payments depend on UBS’s credit, the Notes will not be listed on an exchange, the minimum investment is 100 Notes ($1,000), and the estimated initial value is $9.78 per $10 Note.
UBS AG is offering $310,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Bank of America Corporation, maturing on January 28, 2028. These unsecured debt notes can pay a contingent coupon on each semi-annual observation date, but only if Bank of America’s share price is at or above a preset coupon barrier; otherwise no coupon is paid. The notes are automatically called, returning principal plus any due coupon, if the share price is at or above the initial level on any observation date after 12 months. If the notes are not called and the final share price is at or above the downside threshold, investors receive their $10 principal per note at maturity; if it is below the threshold, repayment is reduced in line with the stock’s decline and investors can lose their entire investment. The indicative contingent coupon rate in the examples is 10.08% per year, the minimum purchase is 100 notes at $10 each, and the estimated initial value is $9.81 per note. All payments depend on the creditworthiness of UBS, and the notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes pay a contingent coupon only if Micron’s stock closes at or above a specified coupon barrier on each observation date. If Micron’s stock closes at or above the initial level on any observation date before the final valuation date, 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 Micron’s stock on the final valuation date is at or above a downside threshold, investors receive only the $10 principal per Note, plus any final contingent coupon if the coupon barrier is met. If the final stock level is below the downside threshold, repayment is reduced in line with Micron’s percentage decline, and investors can lose all of their initial investment. Payments depend on UBS’s credit; the Notes are unsecured, unsubordinated debt, are not FDIC insured, will not be listed on an exchange, and have an estimated initial value between $9.41 and $9.66 per $10 Note. The expected term runs from a trade date of January 26, 2026 to maturity on or about January 28, 2028.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Bank of America Corporation, maturing on or about January 28, 2028. These unsecured debt notes pay a contingent coupon only when the underlying share price on an observation date is at or above a preset coupon barrier; if it is below, no coupon is paid for that period.
The notes may be automatically called on semi-annual observation dates, beginning after 12 months, if the underlying share price is at or above the initial level. In that case, investors receive the principal plus any due coupon and the notes terminate early. If the notes are not called and, on the final valuation date, the underlying is at or above a downside threshold, investors receive full principal back; if it is below that threshold, repayment is reduced in line with the share’s decline and investors can lose up to all of their investment.
The notes are not listed on any exchange, have a minimum investment of 100 notes at $10 each, and have an estimated initial value per note expected between $9.45 and $9.70. All payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on January 29, 2029. These unsecured debt obligations pay a contingent coupon only if the stock closes on each observation date at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The Notes are automatically called if the stock closes at or above its initial level on any observation date before maturity, in which case investors receive the principal amount plus any due contingent coupon and the Notes terminate. If not called, and the final stock level is at or above a downside threshold, principal is repaid at maturity, with any final contingent coupon if the barrier is met.
If the final level is below the downside threshold, repayment is reduced in line with the stock’s negative return and investors can lose their entire principal. Payments depend on the creditworthiness of UBS. The Notes are not listed, require a $1,000 minimum (100 Notes at $10), and have an estimated initial value of $9.65 per $10 Note.
UBS AG is offering $150,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc., maturing on January 28, 2028. These unsecured debt securities can pay periodic contingent coupons, but only when the stock closes at or above a preset coupon barrier on each observation date.
The notes may be automatically called early if the lululemon 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 the final stock level is at or above a downside threshold, investors receive back the $10 principal 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 decline, and investors can lose some or all of their investment. All payments depend on UBS’s credit, the estimated initial value is $9.81 per $10 Note, and the notes will not be listed on an exchange.
UBS AG is offering trigger autocallable contingent yield notes linked to the common stock of Constellation Energy Corporation, maturing on or about January 29, 2029. The notes pay a contingent coupon only on observation dates when the stock closes at or above a specified coupon barrier, and they are automatically called early if the stock closes at or above the initial level on any observation date before maturity.
If the notes are not called and the final stock level is at or above a downside threshold, investors receive back the $10 principal per note at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline, and all principal can be lost. The notes are unsecured debt of UBS, so all payments depend on UBS’s credit. The estimated initial value per $10 note is expected to be between $9.35 and $9.60, reflecting internal pricing and funding assumptions.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc. These unsecured debt notes can pay periodic contingent coupons only when lululemon’s share price on an observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes may be automatically called early if lululemon’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 investment ends. If the notes are not called and lululemon’s final share price is at or above a downside threshold, investors receive full principal back, potentially with a final coupon.
If the notes are not called and lululemon’s final share price is below the downside threshold, investors are fully exposed to the stock’s decline and will receive less than principal back, possibly losing their entire investment. All payments depend on UBS’s credit, and the notes will not be listed on an exchange. Hypothetical examples illustrate a contingent coupon rate of 13.60% per year and how returns can range from gains to substantial losses.
UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock, maturing January 28, 2028. These unsecured debt notes pay a contingent coupon only when Oracle’s closing stock price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be called early if Oracle’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive principal plus any due coupon and the notes terminate. If not called, investors receive full principal at maturity only if the final stock level is at or above a downside threshold; below that level, repayment is reduced in line with the stock’s decline and can fall to zero. All 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 is $9.74 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, with a stated principal amount of $100,000 across $10 denominations, maturing on January 28, 2028.
These unsecured, unsubordinated notes pay a contingent coupon only if Intel’s closing level 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 Intel’s level on any observation date before maturity is at or above the initial level, in which case holders receive principal plus the applicable contingent coupon on the call settlement date and no further payments.
If the notes are not called and Intel’s final level on January 26, 2028 is at or above the downside threshold, investors receive full principal at maturity, plus any contingent coupon for the final period if the coupon barrier is met. If the final level is below the downside threshold, repayment is reduced in line with Intel’s decline, and investors can lose all of their initial investment. The notes are not listed, have a minimum investment of 100 notes ($1,000), carry issuer credit risk of UBS, and have an estimated initial value of $9.74 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on or about January 28, 2028. These unsecured debt securities pay a contingent coupon only when Oracle’s closing level on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called before maturity if Oracle’s closing level on any observation date (other than the final one) is at or above the initial level, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and Oracle’s final level is at or above the downside threshold, investors receive the full principal at maturity, plus any final coupon. If the final level is below the downside threshold, repayment is reduced in line with the negative underlying return and can fall to zero, causing a total loss of principal. The notes are not listed, are subject to UBS’s credit risk, have a minimum purchase of 100 notes at $10 each, and an estimated initial value between $9.44 and $9.69 per note in this preliminary supplement.
UBS AG is offering Intel-linked Trigger Autocallable Contingent Yield Notes due on or about January 28, 2028. These unsecured debt securities pay a contingent coupon only if Intel’s common stock closes at or above a preset coupon barrier on each observation date; otherwise, no coupon is paid for that period.
The notes are automatically called early if Intel’s stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the principal plus any due coupon and no further payments. If not called, and the final stock level is at or above the downside threshold, investors receive their $10 principal per note at maturity; if it is below the downside threshold, repayment is reduced in line with Intel’s percentage decline, up to a total loss of principal. 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 is between $9.44 and $9.69 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc., maturing on January 28, 2028. These unsecured, unsubordinated notes pay a contingent coupon only if Alphabet’s closing level on an observation date is at or above a preset coupon barrier.
The notes can be automatically called early if Alphabet’s level on any observation date (before the final one) 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 Alphabet’s final level is at or above the downside threshold, investors receive their principal at maturity, plus any final contingent coupon if the coupon barrier is met.
If the notes are not called and Alphabet’s final level is below the downside threshold, repayment is reduced dollar-for-dollar with Alphabet’s decline, and investors can lose all of their investment. An example term structure shows a 10.33% per annum contingent coupon, a downside threshold and coupon barrier at 70% of the initial level, and an estimated initial value of $9.74 per $10 note. The notes are subject to UBS’s credit risk, are not listed on any exchange, and require a minimum investment of 100 notes at $10 each.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc., maturing on or about January 28, 2028. These unsecured debt notes pay a contingent coupon only when Alphabet’s closing share price on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Alphabet’s share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus the applicable contingent coupon and no further payments. If the notes are not called and Alphabet’s final share price is at or above a downside threshold, investors receive full principal back; if it is below that threshold, the payoff is reduced in line with Alphabet’s percentage decline and can fall to zero.
The notes are subject to UBS credit risk, 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 models.
UBS AG is offering $2,408,000 of Trigger Autocallable Contingent Yield Notes linked to CrowdStrike Holdings common stock, maturing January 28, 2028. These unsecured debt notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid. The notes can be automatically called early if CrowdStrike’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 any due coupon and no further payments.
If the notes are not called and the final stock level on January 26, 2028 is at or above the downside threshold, UBS repays the $10 principal per Note (and a final coupon if the barrier is met). 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. The notes are subject to UBS credit risk, are not listed on any exchange, have a minimum purchase of 100 Notes ($1,000), and an estimated initial value of $9.83 per $10 Note.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on or about January 28, 2028. Each Note has a principal amount of $10 and is sold in a minimum investment of 100 Notes, or $1,000.
Investors receive a contingent coupon only if on each observation date the CrowdStrike share price is at or above a preset coupon barrier. The Notes are automatically called early if the share price on any observation date before maturity is at or above the initial level, in which case UBS repays principal plus the applicable contingent coupon and makes no further payments.
If the Notes are not called and the final share price is at or above the downside threshold, UBS repays principal at maturity; if it is below that threshold, repayment is reduced in line with the share’s decline and can fall to zero. An example structure in the document shows a contingent coupon rate of 10.19% per annum and a downside threshold and coupon barrier at 55% of the initial level. The estimated initial value is between $9.44 and $9.69 per $10 Note, and all payments depend on UBS’s creditworthiness.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing on January 28, 2031. Each $1,000 Note pays a contingent coupon at 14.00% per annum (about $11.6667 monthly) only when the index is at or above the coupon barrier of 199.59, which is 70% of the 285.13 initial level.
The Notes can be automatically called on monthly observation dates beginning after six months if the index is at or above the call threshold of 285.13, returning principal plus the due coupon, with no further payments. If not called and the final index level is at or above the downside threshold of 142.57 (50% of the initial level), investors receive full principal back; below that level they incur a loss matching the index decline and could lose their entire investment.
The Notes are unsecured obligations of UBS AG London Branch, not FDIC insured, and will not be listed on an exchange. The estimated initial value is $918.50 per $1,000, reflecting fees, hedging costs and UBS’ internal funding rate. The underlying index uses leverage up to 500%, targets 40% volatility and includes a 6.0% per annum decrement, which can significantly drag on performance.
UBS is offering digital medium-term notes linked to the MSCI EAFE Index that pay no interest and are designed to be held to maturity in about 24–27 months. For each $1,000 face amount, investors receive a capped payoff expected to be between $1,126.50 and $1,148.80 if the index ends at or above a buffer level set at 87.50% of its initial level.
If the index falls more than 12.5%, principal loss is magnified: holders lose about 1.1429% of face value for every 1% decline below the buffer, with the potential to lose the entire investment. Upside is limited by a cap level expected between 112.65% and 114.88% of the initial index level, so investors do not participate fully in strong rallies.
The notes are unsecured obligations of UBS AG London Branch, are not FDIC insured, will not be listed on an exchange, and may have little or no secondary market. The estimated initial value is expected to be $967–$997 per $1,000, reflecting internal funding and hedging costs, so secondary prices may initially be below issue price.
UBS AG is offering three-year Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the worst-performing of Deere & Company and JPMorgan Chase & Co. The notes pay a 10.00% per annum contingent coupon (paid quarterly as $25 per $1,000) only if on an observation date the closing level of each stock is at or above its coupon barrier, set at 65% of its initial level.
Beginning after six months, the notes are automatically called if both stocks are at or above their call threshold, set at 100% of initial level, returning principal plus due and unpaid coupons. If not called and, at maturity, both stocks are at or above their downside thresholds at 60% of initial level, investors receive full principal. If any stock finishes below its downside threshold, repayment is reduced one-for-one with the decline of the worst-performing stock, up to total loss of principal.
The notes are unsecured, unsubordinated UBS debt, not listed on any exchange, and subject to UBS credit risk. The estimated initial value is expected between $940.60 and $970.60 per $1,000 note, reflecting fees, hedging and funding costs.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Advanced Micro Devices, Inc. (AMD), maturing on January 29, 2029. Each Note has a $1,000 principal amount and pays a 17.05% per annum contingent coupon in monthly installments of $14.2083 when AMD’s closing level on an observation date is at or above the coupon barrier of $155.81, with a memory feature that can make up previously missed coupons when conditions are later met.
The Notes are subject to an automatic call after six months if AMD’s closing level is at or above the call threshold of $259.68 (100% of the initial level), in which case investors receive principal plus due and unpaid coupons and the Notes terminate early. If the Notes are not called and AMD’s final level on January 24, 2029 is at or above the downside threshold of $129.84 (50% of the initial level), investors receive full principal back.
If the Notes are not called and AMD’s final level is below the downside threshold, repayment is reduced one-for-one with AMD’s percentage decline, and investors can lose some or all of their investment. Payments depend on UBS’s credit; the Notes are not listed, pay no AMD dividends, and their estimated initial value is between $957.70 and $987.70 per Note, below the $1,000 issue price.
UBS AG is offering $500,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing January 26, 2029.
The Notes pay an 11.00% per annum contingent coupon (about $9.1667 per $1,000 monthly) only if, on each observation date, every index is at or above 70% of its initial level. UBS can call the Notes in whole on any monthly observation date beginning after three months, returning principal plus any due coupon, and ending all future payments.
If the Notes are not called and, at final valuation, every index is at or above its 70% downside threshold, investors receive the $1,000 principal per Note. If any index finishes below its threshold, repayment is reduced in line with the worst index’s percentage loss, and all principal can be lost. Payments depend entirely on UBS’s credit; a UBS default could result in a total loss.
UBS AG is offering $3,610,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index, maturing in January 2029. Each $1,000 note pays a contingent coupon of 10.35% per annum, but only if on a monthly observation date all three indexes are at or above their coupon barriers, set at 70% of their initial levels. UBS can call the notes in whole on any observation date after three months, returning principal plus any due coupon, and ending all future payments.
If the notes are not called and at maturity all three indexes are at or above their downside thresholds, set at 55% of initial levels, investors receive full principal back. If any index finishes below its downside threshold, repayment is reduced 1-for-1 with the loss on the worst-performing index, and investors can lose their entire investment. The notes are unsecured, unsubordinated obligations of UBS, have an estimated initial value of $974.90 per $1,000, and will not be listed on an exchange.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the worst performer of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the Utilities Select Sector SPDR® Fund, maturing on or about February 2, 2029.
The Notes pay a 9.50% per annum contingent coupon (about $7.9167 per $1,000 monthly) only if all three underlying assets are at or above 70% of their initial level on each observation date; otherwise no coupon is paid. UBS can call the Notes in whole on any monthly observation date after three months, returning principal plus any due coupon.
If not called and all underlyings finish at or above 60% of their initial level, investors receive back principal; if any finishes below 60%, repayment is reduced one-for-one with the worst performer, up to a total loss. The Notes are unsecured obligations of UBS, carry significant market and credit risk, are not listed, and have an estimated initial value between $945 and $975 per $1,000 issue price.
UBS AG is offering Trigger Callable Contingent Yield Notes due on or about February 3, 2028, linked to the least performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and shares of the Utilities Select Sector SPDR® Fund. The Notes pay a 9.00% per annum contingent coupon (about $7.50 per $1,000 monthly) only if, on each observation date, the closing level of every underlying is at or above its coupon barrier set at 70% of its initial level.
UBS may, at its discretion, call the Notes in whole (not in part) on any monthly observation date beginning after three months, paying back principal plus any due coupon, with no further payments. If the Notes are not called and the final level of every underlying is at or above its downside threshold of 60% of its initial level, investors receive full principal at maturity. If any underlying finishes below its downside threshold, the maturity payment is reduced by the negative return of the worst-performing underlying, and investors can lose all of their investment. The Notes are unsecured obligations of UBS, not listed on an exchange, with an estimated initial value between $946.80 and $976.80 per $1,000 issue price and an underwriting discount of up to $9.50 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Expedia Group, Inc., maturing on or about February 9, 2029. The Notes pay a contingent coupon at a rate of 14.50% per annum, plus any previously unpaid coupons under a memory feature, when Expedia’s closing price on a quarterly observation date is at or above a coupon barrier set at 60% of the initial level. The Notes are automatically called after 6 months and on later observation dates if Expedia closes at or above 100% of the initial level, in which case investors receive principal plus due and unpaid coupons and the Notes terminate early.
If the Notes are not called and the final level on the valuation date is at or above the downside threshold (60% of the initial level), investors receive full principal back. If the final level is below the downside threshold, repayment is reduced in proportion to Expedia’s decline, and investors can lose all of their initial investment. The Notes are unsubordinated, unsecured debt of UBS, are not listed on any exchange, and all payments depend on UBS’s credit. The estimated initial value per $1,000 Note is between $957.30 and $987.30.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the VanEck Gold Miners ETF, the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. Each Note has a $1,000 principal amount, an expected term of about 23 months to January 4, 2028, and a contingent coupon rate of 13.55% per annum, paid monthly only when all three underlyings close at or above their coupon barriers.
The Notes can be automatically called beginning after three months if each underlying is at or above its call threshold level (100% of its initial level). If called, investors receive principal plus the applicable contingent coupon and the Notes terminate early. If not called and each underlying finishes at or above its downside threshold (60% of initial level) at maturity, investors receive full principal back.
If the Notes are not called and any underlying closes below its downside threshold on the final valuation date, repayment is reduced one-for-one with the percentage decline of the worst-performing underlying, and investors can lose all of their investment. Payments depend entirely on UBS’s credit, and the estimated initial value per Note on the trade date is expected to be between $929.60 and $959.60, below the $1,000 issue price.
UBS AG is offering trigger callable contingent yield notes linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the Utilities Select Sector SPDR Fund, each in $1,000 denominations and maturing on or about August 3, 2028. The notes pay a 9.30% per annum contingent coupon only if, on monthly observation dates, all three underlying assets are at or above a coupon barrier set at 70% of their initial levels; otherwise no coupon is paid. UBS may call the notes in whole, but not in part, on any observation date after three months, returning principal plus any due coupon, with no further payments. If the notes are not called and any underlying finishes below its downside threshold at 60% of its initial level, investors incur a loss matching the negative return of the least performing underlying and could lose their entire principal. All payments depend on the unsecured credit of UBS.
UBS AG is offering $2,927,000 of Trigger Callable Contingent Yield Notes, unsecured debt linked to the worst performer of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index, maturing on January 26, 2029.
The Notes pay a 9.45% per annum contingent coupon (paid monthly as $7.875 per $1,000 note) only if, on each observation date, all three indices close at or above their coupon barriers, set at 70% of their initial levels. UBS can call the Notes in whole on any monthly observation date after six months, returning principal plus any due coupon, after which no further payments are made.
If the Notes are not called and, at maturity, any index finishes below its downside threshold, set at 60% of its initial level, investors lose principal in line with the negative return of the worst-performing index and could lose their entire investment. All payments depend on UBS’s credit; the estimated initial value is $965 per $1,000 note, reflecting fees and hedging costs.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the Utilities Select Sector SPDR® Fund. The notes pay a contingent coupon at a rate of 9.70% per annum (about $8.0833 per $1,000 monthly) only if, on each monthly observation date, all three underlyings are at or above their coupon barriers set at 70% of initial levels.
UBS can call the notes in whole, beginning after three months, paying back principal plus any due coupon; no further payments occur after a call. If the notes are not called and all underlyings finish at or above their downside thresholds set at 60% of initial levels, investors receive only principal at maturity on or about August 2, 2029. If any underlying finishes below its downside threshold, repayment is reduced one-for-one with the worst performer, up to a total loss of principal. All payments depend on UBS’s creditworthiness, and the notes will not be listed on an exchange.
UBS AG London Branch is offering $1,943,000 of Capped Leveraged Buffered S&P 500® Index‑Linked Medium‑Term Notes due September 22, 2027. These notes pay no interest and repay an amount at maturity based on the S&P 500® Index performance from an initial level of 6,913.35 to a final level on September 20, 2027.
If the index rises, holders receive 160% of the index gain, capped at a maximum settlement amount of $1,192.00 per $1,000 face amount (a 19.2% maximum return). If the index is flat or down by up to 12.5%, investors receive back $1,000 per note. Below this 12.5% buffer, investors lose about 1.1429% of principal for each additional 1% index decline and could lose their entire investment.
The notes are unsecured obligations of UBS, are not insured by the FDIC, will not be listed on any exchange, and may have limited or no secondary market. UBS estimates the initial value at $997.50 per $1,000, reflecting internal pricing and funding assumptions, and highlights significant market, liquidity, tax and issuer credit risks.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the SPDR® S&P® Regional Banking ETF (KRE), maturing on or about February 1, 2029. Each Note has a $1,000 principal amount and pays quarterly contingent coupons only when KRE closes at or above a coupon barrier set at 70% of the initial level. The indicative contingent coupon range is 8.10% to 8.50% per year.
The Notes can be automatically called each observation date if KRE is at or above 100% of the initial level, returning principal plus the applicable coupon, with no further payments. If not called, and KRE finishes at or above the downside threshold of 70% of the initial level, investors receive full principal back at maturity. If the final level is below that threshold, repayment is reduced one-for-one with KRE’s decline, and the entire principal can be lost.
The Notes are unsecured, unsubordinated UBS debt, not listed on an exchange, and carry UBS credit risk. The estimated initial value is expected between $940.10 and $970.10 per $1,000 issue price, and UBS expects net proceeds of $980 per Note after a $20 underwriting discount.
UBS AG is offering $2,500,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq‑100, Russell 2000 and S&P 500 indices. The notes pay a 10.45% per annum contingent coupon only if, on each quarterly observation date, all three indices close at or above 70% of their initial levels. UBS can call the notes in whole on any observation date after six months, repaying principal plus any due coupon, after which no further payments are made.
If the notes are not called and, at maturity in January 2031, all three indices are at or above their downside thresholds (also 70% of initial levels), investors receive back the $1,000 principal per note plus any final contingent coupon. If any index finishes below its downside threshold, repayment is reduced one‑for‑one with the loss on the worst‑performing index, and investors can lose all of their investment. Payments depend on UBS’s credit, and the estimated initial value per note of $969.90 is below the $1,000 issue price.