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 $5,263,000 of Buffer 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 October 28, 2027. The Notes pay a 7.70% per annum contingent coupon, credited monthly only when all three indices close at or above their coupon barriers, set at 70% of their initial levels. UBS can call the Notes quarterly, returning principal plus any due coupon, after which no further payments are made.
If the Notes are not called and any index finishes below its 80% downside threshold, principal is reduced in line with the decline of the worst index beyond a 20% buffer, and investors can lose almost all of their investment. Payments depend on UBS’s credit, the Notes are not listed, the estimated initial value is $977.20 per $1,000 Note, and net proceeds to UBS are $997.50 per Note before an additional $8.50 per Note marketing fee.
UBS AG is issuing $830,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 Technology Sector Index and Russell 2000 Index, maturing July 26, 2030.
The Notes pay a contingent coupon at a rate of 10.60% per annum (about $8.8333 per $1,000 per month) only if, on each monthly observation date, all three indices close at or above their coupon barriers, set at 75% of initial levels. UBS can call the Notes in whole on any observation date after six months, returning principal plus any due coupon, ending all further payments.
At maturity, if the Notes have not been called and each index is at or above its downside threshold (set at 60% of initial levels), investors receive full principal. If any index finishes below its downside threshold, repayment is reduced one-for-one with the decline of the worst index, and up to all principal can be lost. Payments depend on UBS’s credit; the estimated initial value is $962.40 per $1,000 Note, below the issue price.
UBS AG is offering $6.7 million of Airbag Callable Contingent Yield Notes, due January 26, 2029, linked to the least performing of four equity indices: the Nikkei 225, Russell 2000, S&P 500 and EURO STOXX 50.
The Notes pay a 12.25% per annum contingent coupon (about $10.2083 per $1,000 note per month) only if, on each monthly observation date, every index closes at or above its coupon barrier set at 70% of its initial level. UBS can call the Notes in whole, beginning after three months, paying back principal plus any due coupon, after which no further payments are made.
If the Notes are not called and each index finishes at or above its downside threshold (also 70% of initial), investors receive back the $1,000 principal. If any index finishes below its downside threshold, the maturity payment is reduced based on the worst index: investors lose about 1.4286% of principal for each 1% decline beyond the 30% threshold, and could lose their entire investment. All payments depend on UBS’s creditworthiness, and the Notes are unsecured, unsubordinated obligations that will not be listed on an exchange.
UBS AG is offering $1,840,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of three ETFs: VanEck Semiconductor (SMH), SPDR S&P Biotech (XBI) and Energy Select Sector SPDR (XLE), maturing on January 28, 2031.
The notes pay a contingent coupon at a rate of 10.75% per annum ($8.9583 per month per $1,000 note) only when the closing level of each ETF is at or above its coupon barrier, set at 70% of its initial level. The notes can be automatically called monthly after 12 months if all ETFs are at or above their call threshold, set at 100% of initial levels, returning principal plus any due and unpaid coupons.
If the notes are not called and any ETF finishes below its downside threshold, set at 60% of its initial level, investors lose principal one-for-one with the decline of the worst ETF and could lose their entire investment. The issue price is $1,000 per note, with estimated initial value of $958.40 and net proceeds to UBS of $963.75 per note, and all payments are subject to UBS credit risk.
UBS AG is issuing $2,204,000 of Trigger Callable Contingent Yield Notes linked to the least performing of three references: SPDR S&P Regional Banking ETF (KRE), Nasdaq-100 Technology Sector Index (NDXT) and Energy Select Sector SPDR Fund (XLE). The notes pay a 12.15% per annum contingent coupon (about $10.125 per $1,000 note per month) only when all three underlyings close at or above their coupon barriers, set at 70% of initial levels.
The notes run for roughly three years, from January 2026 to January 2029, and are callable monthly by UBS after six months at par plus any due coupon, ending all future payments. If not called and all final levels are at or above their downside thresholds (50% of initial levels), investors receive back principal; if any final level is below its threshold, repayment is reduced one-for-one with the loss on the worst performer, up to a total loss of principal.
The notes are unsecured, unsubordinated debt of UBS, not listed, and all payments depend on UBS’s credit. The estimated initial value is $982 per $1,000 note, below the $1,000 issue price, reflecting fees, hedging and UBS’s internal funding rate.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation. These notes pay contingent coupons only when the stock closes at or above a preset coupon barrier on each observation date; otherwise no income 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 principal plus any due coupon and the product terminates. If not called, principal is repaid 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 the credit of UBS AG, and investors face both market risk tied to Constellation Energy shares and issuer credit risk. The notes will not be listed, require a minimum purchase of 100 notes at $10 each, and have an estimated initial value of $9.73 per $10 note.
UBS AG is offering $840,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index, maturing in January 2029.
The notes pay an 11.00% per annum contingent coupon, credited monthly only if all three indices close at or above 70% of their initial levels on each observation date. UBS can call the notes in whole on any monthly observation date after three months, returning principal plus any due coupon, and ending future payments.
If the notes are not called and any index finishes below its 70% downside threshold at maturity, repayment is reduced one-for-one with the loss of the worst-performing index, up to a total loss of principal. All payments depend on UBS’s ability to meet its obligations, and the estimated initial value is $968.20 per $1,000 note, below the issue price.
UBS AG is offering $250,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Apollo Global Management, Inc., maturing January 27, 2027. These unsecured debt obligations pay a contingent coupon on each coupon payment date only if Apollo’s closing share price on the related observation date is at or above a preset coupon barrier; otherwise no coupon is paid.
The notes can be called early if Apollo’s share 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, with no further payments. If the notes are not called and Apollo’s final share price is at or above the downside threshold on the final valuation date, investors receive full principal back, plus a final contingent coupon if the coupon barrier is also met. If the final share price is below the downside threshold, repayment is reduced in line with the share price decline and investors can lose all of their investment. Payments depend on UBS’s credit; the notes are not FDIC insured, will not be listed, require a minimum $1,000 investment, and have an estimated initial value of $9.77 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on or about January 27, 2027. These unsecured debt notes can pay periodic contingent coupons only when the stock closes at or above a preset coupon barrier on scheduled observation dates.
The notes may be called early if the 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 the final stock level is at or above the 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 decline, and investors can lose some or all of their investment.
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 between $9.43 and $9.68 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Apollo Global Management, Inc., maturing on or about January 27, 2027. These unsecured debt notes pay a contingent coupon only if the 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, 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 is below a downside threshold, repayment at maturity is reduced in line with the stock’s loss and investors can lose all of their investment. The minimum investment is 100 Notes ($1,000), and the estimated initial value is expected to be between $9.42 and $9.67 per $10 Note, subject to UBS’s credit risk.
UBS AG is offering $1,400,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of the SPDR S&P Regional Banking ETF (KRE), the Nasdaq‑100 Index and the S&P 500 Index, maturing in January 2030. Each $1,000 note pays a contingent coupon of 11.45% per annum, with monthly payments only if all three underlyings stay at or above 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 any underlying finishes below 60% of its initial level at maturity, principal is reduced one‑for‑one with the worst performer, and investors can lose their entire investment. The notes are unsecured obligations of UBS AG London Branch, are not FDIC‑insured, will not be listed on an exchange, and have an estimated initial value of $975.40 per $1,000.
UBS AG is offering $1,080,000 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 on July 28, 2027. The Notes pay a contingent coupon at an annual rate of 11.30% (about $9.4167 per $1,000 monthly) only if, on each observation date, every index closes at or above its coupon barrier set at 70% of its initial level.
UBS can call the Notes in whole, starting after six months, on any observation date; if called, holders receive $1,000 per Note plus any due coupon, and the Note terminates. If not called and, at maturity, each index is at or above its downside threshold (also 70% of its initial level), investors receive full principal back, plus any final coupon.
If UBS does not call the Notes and any index finishes below its downside threshold, repayment is reduced in line with the decline of the worst-performing index, and principal losses can reach 100%. Payments depend entirely on UBS’s credit, and the estimated initial value is $982 per $1,000 Note, below the $1,000 issue price.
UBS AG is offering $1,203,000 of Trigger Callable Contingent Yield Notes, each with a $1,000 principal amount, linked to the least performing 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 contingent coupon at a rate of 9.50% per annum (about $7.9167 per month per $1,000) only if, on each monthly observation date, all three indices close at or above their coupon barriers, set at 70% of their initial levels (13,046.25 / 2,669.162 / 6,915.61 with barriers and downside thresholds at 9,132.38 / 1,868.413 / 4,840.93 respectively).
UBS may call the Notes in whole, beginning after 12 months, paying back principal plus any due coupon; no further payments would follow. If the Notes are not called and any index finishes below its downside threshold, investors receive $1,000 multiplied by 1 plus the return of the worst‑performing index and can lose some or all principal. The Notes are unsecured obligations of UBS AG, will not be listed, have an estimated initial value of $961.20 per $1,000, and are subject to key market, liquidity, credit and tax risks.
UBS AG is offering $1,930,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector Index and the Russell 2000® Index, maturing January 26, 2029. The Notes pay a contingent coupon of 11.45% per annum (about $9.5417 per $1,000 Note monthly) 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, beginning after three months, paying back principal plus any due coupon, after which no further payments are made.
If the Notes are not called and, at maturity, each index is at or above its downside threshold (also 70% of its initial level), investors receive full principal. If any index finishes below its downside threshold, the maturity payment is reduced in line with the negative return of the worst-performing index, and investors can lose all of their investment. All payments depend on UBS’s credit, and the Notes will not be listed on any exchange.
UBS AG is issuing $3,050,000 of Trigger Callable Contingent Yield Notes maturing in January 2029, linked to the worst performer among the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index.
The Notes pay a 9.20% per annum contingent monthly coupon only when all three indices are at or above 60% of their initial level; otherwise no coupon is paid. UBS can call the Notes in whole on any monthly observation date after six months, returning principal plus any due coupon.
If not called, investors receive full principal at maturity only if each index finishes at or above its 60% downside threshold. If any index ends below this level, repayment is reduced in line with the worst index’s loss, up to a total loss of principal. The Notes are unsecured obligations of UBS, not listed on an exchange, and their estimated initial value is $971.90 per $1,000 note, reflecting fees and hedging costs.
UBS AG is offering $2,024,000 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 on January 28, 2030.
The notes pay a 10.35% per annum contingent coupon (about $8.625 per $1,000 note per period) only if on each monthly observation date all three indexes are at or above their coupon barriers, set at 70% of initial levels. UBS can call the notes in whole on any observation date after three months, returning principal plus any due coupon, after which no further payments are made.
If the notes are not called and any index finishes below its 70% downside threshold, maturity payment per note is $1,000 times 1 plus the return of the worst-performing index, so investors can lose a significant portion or all of their principal. The notes are unsecured, unsubordinated obligations of UBS, not listed on any exchange, and their value and payments depend on UBS’s credit; the estimated initial value is $967.20 per $1,000 note, below the issue price.
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 contingent coupon of 17.05% per annum (monthly installments of $14.2083) only if AMD’s closing level on an observation date is at or above the coupon barrier of $155.81, which is 60% of the initial level of $259.68.
The Notes are autocallable monthly after 6 months if AMD closes at or above the call threshold of $259.68 (100% of the initial level), in which case investors receive principal plus the current and any previously unpaid coupons, and the Notes terminate early.
If not called, and AMD’s final level on the valuation date is at or above the downside threshold of $129.84 (50% of the initial level), investors receive full principal back (plus any due coupons). If the final level is below the downside threshold, repayment is reduced one-for-one with AMD’s decline, and investors can lose all principal.
The estimated initial value is expected between $957.70 and $987.70 per $1,000 Note. UBS Securities LLC takes a $7.00 underwriting discount per Note, with net proceeds of $993.00 to UBS. The Notes are not listed, may have limited liquidity, offer no dividends or voting rights in AMD, and all payments are subject to UBS credit risk.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Constellation Energy Corporation. The Notes pay a quarterly contingent coupon at an annual rate of 17.25% to 18.25% if Constellation’s share price on an observation date is at or above a coupon barrier set at 70% of the initial level, with unpaid coupons potentially recovered later under the memory feature.
The Notes can be automatically called each quarter if the stock closes at or above 100% of the initial level, returning principal plus due and unpaid coupons. If not called and the final stock level is at or above the 70% downside threshold, investors receive full principal; below that threshold they take a loss matching the stock’s percentage decline, up to a total loss of principal. The term is approximately 18 months, the Notes are unsecured and unsubordinated, are not listed, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Capped Leveraged Buffered MSCI EAFE® Index-Linked Medium-Term Notes that pay no interest and return depends entirely on the MSCI EAFE Index over about 24–27 months. Each note has a $1,000 face amount. If the index rises, investors get 160.00% of the index gain, but payments are capped by a maximum settlement amount expected between $1,214.88 and $1,252.80 per $1,000. If the index falls by up to 15.00%, investors receive $1,000 back. Below that 15.00% buffer, losses accelerate at about 1.1765% of face amount for every 1% further index decline, and the entire investment can be lost.
The notes are unsecured obligations of UBS AG London Branch, are not FDIC insured, and will not be listed on an exchange, so secondary market liquidity may be limited. The estimated initial value is expected between $967.50 and $997.50 per $1,000, reflecting internal pricing, hedging costs and UBS’ funding rate. The product also carries currency, non‑U.S. equity, tax and UBS credit risks.
UBS AG is offering Trigger Autocallable GEARS, unsecured debt linked to the common stock of NIKE, Inc. The notes have a term of about three years and a denomination of $10 per Security, with no periodic interest or dividends.
UBS will automatically call the notes if Nike’s stock on the observation date is at or above the autocall barrier set at 100% of the initial level, paying a fixed call price equal to principal plus a 22.00% call return, after which no further payments are made. If not called and the stock finishes above the initial level, investors receive leveraged upside based on the stock’s gain multiplied by an upside gearing between 1.55 and 1.75. If the final level is at or above a downside threshold of 75% of the initial level and the notes are not called, principal is repaid.
If the notes are not called and the final stock level is below the downside threshold, repayment is reduced one-for-one with the stock’s loss, up to a total loss of principal. The estimated initial value per note is expected to be between $9.44 and $9.74, below the $10 issue price, and any payment depends entirely on the creditworthiness of UBS AG. The notes will not be listed, and liquidity in the secondary market may be limited.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of United Airlines Holdings, Inc. (UAL), each with a $1,000 principal amount and an expected term of about 18 months. The notes pay a quarterly contingent coupon only if UAL’s closing share price on an observation date is at or above a coupon barrier set at 70% of the initial level, with unpaid coupons potentially caught up later under a memory feature.
The notes are automatically called early if UAL closes at or above a call threshold equal to 100% of the initial level on any observation date before maturity, in which case holders receive principal plus the due and previously unpaid contingent coupons and no further payments. If not called and UAL’s final level is at or above the downside threshold (also 70% of the initial level), holders receive back their principal in cash.
If the notes are not called and UAL’s final level is below the downside threshold, holders receive a share delivery amount of UAL stock (plus cash for any fraction), expected to be worth significantly less than principal, so a large loss or total loss of the initial investment is possible. The indicative contingent coupon rate range is 13.75% to 14.75% per annum, and all payments are subject to the credit risk of UBS. The notes will not be listed and may have limited or no secondary market liquidity.
UBS AG is offering unsecured Trigger Callable Yield Notes linked to the least performing of the Nasdaq‑100 Index and the Russell 2000 Index. The Notes pay a fixed monthly coupon at an annual rate expected between 8.20% and 8.80%, regardless of index performance, unless UBS calls the Notes.
UBS may call the Notes in whole, but not in part, on monthly call dates starting after three months, paying back the $10 principal per Note plus the coupon then due. If not called, and on the final valuation date each index is at or above 70% of its initial level (its downside threshold), investors receive full principal at maturity plus the last coupon.
If any index finishes below its downside threshold, repayment is reduced in line with the negative return of the worst‑performing index, and investors can lose a significant portion or all of their investment. The estimated initial value is between $9.472 and $9.772 per $10 Note, the Notes will not be listed, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $563,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Pfizer Inc., maturing on January 29, 2029. The Notes pay a quarterly contingent coupon of 7.69% per annum only when Pfizer’s closing share price on an observation date is at or above a coupon barrier set at 70% of the initial level; otherwise no coupon is paid.
The Notes can be automatically called on quarterly dates starting about six months after issuance if Pfizer’s stock is at or above the initial level, in which case investors receive principal plus the applicable coupon and the Notes terminate. If not called, and Pfizer’s final stock level is at or above a downside threshold of 70% of the initial level, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with the stock’s loss, and investors can lose all of their investment. All payments depend on the creditworthiness of UBS, and the estimated initial value per $10 Note is $9.66.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Pfizer Inc. with a scheduled final valuation date of January 25, 2029 and maturity date of January 29, 2029. The Notes pay contingent quarterly coupons only if Pfizer’s share price on each observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The Notes can be automatically called after six months if Pfizer’s share price on an observation date is at or above the initial level, in which case investors receive the principal plus any due coupon and the Notes terminate. If not called, and at maturity Pfizer’s share price is at or above a downside threshold, investors receive back the full principal; if it is below that threshold, repayment is reduced in line with the stock’s decline and investors can lose all of their investment. Payments depend on UBS’s credit, and the Notes are not listed. The minimum investment is 100 Notes at $10 each, and the estimated initial value per Note is expected to be between $9.28 and $9.53.
UBS AG is offering $120,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on January 27, 2028.
The Notes pay an 11.17% per annum contingent coupon (about $0.2793 per $10 Note per period) only if NVIDIA’s closing level on an observation date is at or above the coupon barrier, set at $55.00, which is 55% of the initial level. UBS will automatically call the Notes early if NVIDIA’s level on any observation date before maturity is at or above the initial level, returning the $10 principal per Note plus the due contingent coupon, after which no further payments are made.
If the Notes are not called and the final NVIDIA level on the January 25, 2028 valuation date is at or above the $55.00 downside threshold, investors receive $10 per Note at maturity, plus a final contingent coupon if the barrier is also met. If the final level is below the downside threshold, repayment is reduced in line with NVIDIA’s percentage decline, and investors can lose most or all of their principal. The estimated initial value is $9.76 per $10 Note, the minimum investment is 100 Notes ($1,000), payments depend on UBS’s credit, 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 NVIDIA Corporation, with a scheduled maturity on or about January 27, 2028. These unsecured debt notes pay a contingent coupon only if NVIDIA’s stock closes at or above a specified coupon barrier on each observation date; otherwise no coupon is paid for that period.
The notes can be automatically called early if the 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 NVIDIA’s final stock level is at or above a downside threshold, investors receive back principal (and 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 decline, and investors can lose all of their initial investment. All payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Advanced Micro Devices, Inc. common stock, maturing on January 27, 2027. Each Note has a $10 principal amount, with a minimum investment of 100 Notes (a $1,000 investment). The Notes pay a contingent coupon only if AMD’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 early if AMD’s closing level on any observation date before maturity is at or above the initial level, in which case UBS repays the $10 principal per Note plus any contingent coupon then due, and no further payments occur. If the Notes are not called and AMD’s final level on January 25, 2027 is at or above the downside threshold, UBS repays the $10 principal per Note (plus any final contingent coupon if the coupon barrier is met). If the final level is below the downside threshold, repayment is reduced dollar-for-dollar with AMD’s decline, and investors can lose all of their initial investment. All payments depend on the creditworthiness of UBS, 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 Advanced Micro Devices, Inc. These are unsecured, unsubordinated debt obligations of UBS with a scheduled maturity on or about January 27, 2027.
Investors may receive periodic contingent coupons only if AMD’s closing share price on each observation date is at or above a specified coupon barrier. The notes are automatically called early if AMD’s price on any observation date before the final valuation date 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 AMD’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 the stock’s percentage decline, and investors can lose their entire investment. 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 Dell Technologies Inc., maturing on January 27, 2027. Each Note has a $10 principal amount, with a minimum investment of 100 Notes.
Investors receive a contingent coupon only if Dell’s stock closes at or above a specified coupon barrier on each observation date. The Notes are automatically called early if Dell’s stock closes at or above the initial level on any observation date before the final valuation date, in which case investors 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 the downside threshold, investors receive full principal back at maturity, plus any final contingent coupon if the coupon barrier is met. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their initial investment. All payments depend on the creditworthiness of UBS, and the Notes will not be listed on an exchange. The estimated initial value is $9.71 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc. The Notes pay a contingent coupon only if Dell’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 before maturity if Dell’s stock closes at or above the initial level on any observation date prior to the final valuation date, in which case investors receive the principal plus any due 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; below that level, repayment falls in line with Dell’s negative return and investors can lose up to their entire investment.
The Notes are unsecured obligations of UBS, subject to its credit risk, will not be listed on any exchange, have a minimum investment of 100 Notes at $10 each, and an estimated initial value expected between $9.41 and $9.66 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with an aggregate principal amount of $258,000. These unsecured debt notes can pay high contingent coupons, but only on dates when NVIDIA’s share price closes at or above a preset coupon barrier, so investors may receive no income for extended periods.
The notes can be called early if NVIDIA’s stock closes at or above the initial level on any observation date, in which case investors receive the principal plus the applicable coupon and the investment ends. If the notes are not called and NVIDIA’s final share price is at or above the downside threshold at maturity in January 2028, investors receive back their principal (plus any final coupon). If the final price is below the downside threshold, repayment is reduced in line with the stock’s decline, and all principal can be lost.
The notes are not listed, have an example contingent coupon rate of 20.28% per annum on a $10 denomination, require a minimum investment of 100 notes, and have an estimated initial value of $9.77 per note. All payments depend on UBS’s credit; a UBS default could result in a total loss regardless of NVIDIA’s share performance.
UBS AG is offering $350,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Blackstone Inc., maturing on January 27, 2027. These unsecured debt notes pay a contingent coupon only if Blackstone’s share price on an observation date is at or above a set coupon barrier; otherwise no coupon is paid.
The notes are automatically called early if Blackstone’s share 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 the product terminates. If not called, and the final share price is at or above the downside threshold, investors receive full principal back; if it is below the threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.80 per Note. Payments depend entirely on UBS’s credit, the notes will not be listed on an exchange, and investors may lose a significant portion or all of their investment.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about January 27, 2028. These unsecured, unsubordinated notes pay a contingent coupon only if NVIDIA’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 NVIDIA’s closing level on any observation date (other than the final one) is at or above the initial level, in which case investors receive principal plus any due coupon and no further payments. If not called, and the final level is at or above a downside threshold, investors receive full principal at maturity; if it is below the threshold, repayment is reduced in line with NVIDIA’s decline and can fall to zero.
The minimum investment is 100 Notes at $10 each. The estimated initial value per $10 Note on the trade date is expected to be between $9.41 and $9.66. All payments depend on the creditworthiness of UBS AG, 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 Blackstone Inc., maturing on or about January 27, 2027. These unsecured, unsubordinated debt notes pay a contingent coupon only if Blackstone’s closing share price on an observation date, including the final valuation date, is at or above a preset coupon barrier.
The notes are automatically called if, on any observation date before maturity, the share price is at or above the initial level; in that case, investors receive the principal plus the applicable contingent coupon and the notes terminate. If not called, and the final share price is at or above the downside threshold, investors receive full principal back, plus any final contingent coupon if the coupon barrier is also met.
If the notes are not called and the final share price is below the downside threshold, repayment at maturity is reduced in line with the share’s negative return, and investors can lose some or all of their principal. 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. All payments depend on the creditworthiness of UBS.
UBS AG is offering $851,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing January 27, 2027. These unsecured debt notes can pay a high contingent coupon only when Micron’s 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, returning principal plus any due coupon, if Micron’s stock closes at or above the initial level on any observation date before maturity.
If the notes are not called and Micron’s stock on the final valuation date is at or above the downside threshold, investors receive full principal back at maturity, plus any final contingent coupon if the coupon barrier is also met. If the final level is below the downside threshold, repayment is reduced in line with Micron’s percentage decline, and investors can lose some or all of their investment. All payments depend on UBS’s credit, and the notes are not listed on an exchange, with an estimated initial value of $9.79 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about January 27, 2027. Each Note has a principal amount of $10, with a minimum investment of 100 Notes. Investors receive a contingent coupon only if Micron’s closing level on an observation date is at or above the coupon barrier; otherwise, no coupon is paid for that period.
The Notes are automatically called early if Micron’s closing level 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 the Notes terminate. If not called, and the final level is at or above the downside threshold, principal is repaid at maturity. If the final level is below the downside threshold, repayment is reduced in line with Micron’s negative return, and investors can lose all of their investment. All payments depend on UBS’s credit, and the Notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Freeport-McMoRan common stock, maturing January 27, 2027. These unsecured, unsubordinated notes pay a contingent quarterly coupon only if Freeport-McMoRan’s closing share price on each observation date is at or above a coupon barrier set at 70% of the initial level. The indicative contingent coupon rate is 13.81% per annum, or $0.3453 per $10 note per quarter in the examples.
The notes can be called early each quarter after six months if the stock closes at or above the initial level, in which case investors receive principal plus the applicable coupon and the notes terminate. If not called, and at maturity the stock is at or above the downside threshold of 70% of the initial level, investors receive full principal back (plus any final coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced one-for-one with the stock’s decline, and investors can lose their entire investment.
The notes are not listed, have an estimated initial value of $9.69 per $10 note, and all payments depend on UBS’s credit. The minimum investment is 100 notes at $10 each.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport‑McMoRan Inc., maturing on or about January 27, 2027. Each Note has a principal amount of $10, with a minimum investment of 100 Notes.
Investors receive a contingent coupon only if the Freeport‑McMoRan share price on a quarterly observation date is at or above a preset coupon barrier. The Notes are automatically called if, on any observation date beginning after 6 months and before the final valuation date, the share price is at or above the initial level; in that case, UBS repays principal plus the applicable contingent coupon and the Notes terminate early.
If the Notes are not called and the final share price on January 25, 2027 is at or above a 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 decline, and investors can lose some or all of their initial investment. Payments depend on the creditworthiness of UBS, the Notes will not be listed on any exchange, and the estimated initial value is between $9.39 and $9.64 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Humana Inc., maturing on January 27, 2027, with a principal amount of $10 per Note and a minimum investment of 100 Notes.
Investors receive a contingent coupon of 11.69% per annum, paid only if Humana’s share price on an observation date is at or above the coupon barrier, set at $65.00, which is 65% of the initial level. The same level acts as the downside threshold: if the Notes are not automatically called and Humana’s final level is at or above this threshold, principal is repaid at maturity.
If the Notes are not called and the final level is below the downside threshold, repayment is reduced in line with Humana’s negative return, and investors can lose up to their entire investment. All payments depend on UBS’s ability to meet its obligations, and the estimated initial value per Note is $9.70, below the $10 issue price.
UBS AG is offering $888,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on January 27, 2028. The Notes pay a contingent coupon only if Amazon’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 are automatically called early if Amazon’s share price on an observation date (before final valuation) is at or above the initial level, in which case investors receive the $10 principal per Note plus any due coupon, and the product terminates. If not called, and the final share price on January 25, 2028 is at or above the downside threshold, investors receive full principal back, plus a final coupon if the coupon barrier is met.
If the Notes are not called and Amazon’s final share price is below the downside threshold, repayment of principal is reduced in line with the stock’s percentage decline, and investors can lose all of their initial investment. The estimated initial value is $9.82 per $10 Note. The Notes are unsecured, unsubordinated obligations of UBS, are not listed on any exchange, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Humana Inc., maturing on or about January 27, 2027. These are unsecured, unsubordinated debt obligations of UBS.
Holders receive a contingent coupon only if Humana’s closing share price on an observation date, including the final valuation date, is at or above a preset coupon barrier. If on any observation date before maturity the share price is at or above the initial level, the notes are automatically called and UBS repays the principal plus that period’s coupon, with no further payments.
If the notes are not called and Humana’s final level is at or above the downside threshold, UBS repays the full principal at maturity (and a final coupon if the coupon barrier is met). If the final level is below the downside threshold, investors are fully exposed to the stock’s decline and can lose all of their investment. The notes will not be listed, have a minimum investment of 100 notes at $10 each, and their estimated initial value is expected between $9.40 and $9.65, with all payments dependent on UBS’s credit.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on or about January 27, 2028. The Notes pay a contingent coupon only if Amazon’s closing share price on each observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period. UBS will automatically call the Notes early if Amazon’s share price on any observation date before maturity is at or above the initial level, returning principal plus the applicable coupon and ending the investment.
If the Notes are not called and Amazon’s final share price on the valuation date is at or above the downside threshold, investors receive only their principal back (plus any final contingent coupon if the barrier is met). If the final price is below the downside threshold, repayment is reduced in line with the share price decline, and investors can lose their entire investment. The Notes are unsecured UBS debt, are not listed on an exchange, have a minimum investment of 100 Notes at $10 each, and an estimated initial value between $9.44 and $9.69 per Note in the example terms.
UBS AG is offering $160,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on January 27, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes ($1,000).
The Notes pay a contingent coupon at a 24.83% per annum rate only when Micron’s closing level on an observation date is at or above the coupon barrier, set at $50.00, which is 50% of the initial level in the examples. If on any observation date before maturity Micron’s level 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 the Notes are not called and Micron’s final level on January 25, 2028 is at or above the downside threshold of $50.00, investors receive full principal back (plus any final contingent coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced in line with Micron’s negative return, and investors can lose all of their initial investment. The Notes are unsecured, unsubordinated obligations of UBS, not listed on any exchange, and the estimated initial value is $9.75 per $10 Note, based on UBS’ internal models.
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 with a principal amount of $10 per Note, offered in minimum investments of 100 Notes (a $1,000 minimum). They trade on a T+2 basis at issuance, with a trade date of January 23, 2026 and maturity on January 29, 2029, unless called earlier.
The Notes pay a contingent coupon of 18.92% per annum (about $0.473 per quarter per $10 Note) only if AMD’s closing stock price on an observation date is at or above the coupon barrier, set at $60.00, which is also the downside threshold (60% of the initial level). UBS will automatically call the Notes if AMD’s stock closes at or above the initial level on any quarterly observation date after six months, in which case investors receive principal plus the due coupon and no further payments.
If the Notes are not called and AMD’s final stock level is at or above the downside threshold, investors receive back principal (plus the final coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced one-for-one with AMD’s percentage decline, and investors can lose up to all of their investment. All payments depend on UBS’s credit, and the estimated initial value is $9.74 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about January 27, 2028. These unsecured debt notes pay a contingent coupon only when Micron’s closing share price on a given 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 Micron’s share price on any observation date before maturity is at or above the initial level. In that case, investors receive the principal plus the applicable contingent coupon and the product terminates. If the notes are not called and Micron’s final share price is at or above a downside threshold, principal is repaid at maturity. If the final share price is below the downside threshold, investors are exposed to the full downside of the stock and can lose some or all of their investment.
Each note has a $10 denomination, with a minimum purchase of 100 notes, and an estimated initial value between $9.42 and $9.67 per note. All payments depend on UBS’s creditworthiness, and the notes will not be listed on any securities exchange.
UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of First Solar, Inc., maturing January 27, 2028. These unsecured senior notes pay a contingent coupon only if First Solar’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 before maturity if the stock closes at or above its initial level on any observation date, in which case investors receive the principal plus any due coupon and the note terminates. If the notes are not called and the final share price is at or above a downside threshold, investors receive their full principal at maturity; if it is below the threshold, repayment falls in line with the stock’s decline and investors can lose all of their investment.
The notes are subject to UBS’s credit risk, will not be listed on any exchange, have a minimum investment of 100 notes at $10 each, and an estimated initial value of $9.74 per note as determined by UBS’ internal models.
UBS AG is offering $130,000 of Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock, maturing January 27, 2028. These unsecured debt securities pay a high contingent coupon of 16.41% per annum only if NVIDIA’s stock closes at or above a set coupon barrier on each observation date. If on any observation date before maturity the stock closes at or above the initial level, the notes are automatically called and investors receive the $10 principal per Note plus the applicable contingent coupon, with no further payments.
If the notes are not called and NVIDIA’s final stock level is at or above the downside threshold (70% of the initial level), investors receive full principal back at maturity, plus a final contingent coupon if the coupon barrier is also met. If the final level is below the downside threshold, repayment is reduced dollar-for-dollar with the stock’s percentage decline, and investors can lose all of their investment. The estimated initial value is $9.76 per $10 Note, the minimum investment is 100 Notes ($1,000), the notes will not be listed on an exchange, and all payments depend on UBS’s creditworthiness.
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 coupon only if AMD’s share price on a given observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be called early each quarter starting about six months after issuance if AMD’s share price is at or above the initial level, in which case investors receive principal plus any due coupon and the product terminates. If the notes are not called and AMD’s final share price is at or above a downside threshold, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with AMD’s share price decline, up to a total loss of principal. Payments depend on UBS’s credit, the notes are not exchange‑listed, the minimum investment is 100 notes at $10 each, and the estimated initial value is expected between $9.37 and $9.62 per note.
UBS AG is offering $429,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of FedEx Corporation, maturing on January 29, 2029. These unsecured, unsubordinated notes can pay periodic contingent coupons only when FedEx’s share price on an observation date is at or above a preset coupon barrier.
The notes may be automatically called early if FedEx’s stock closes at or above the initial level on any observation date before final valuation, 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 FedEx’s final stock level is at or above the downside threshold, investors receive full principal at maturity, plus a contingent coupon if the final level also meets the coupon barrier.
If the notes are not called and FedEx’s final level is below the downside threshold, repayment is reduced in line with the percentage decline in FedEx’s share price, and investors could lose all of their initial investment. All payments depend on UBS’s credit; a default by UBS could result in a total loss. The notes are not listed, and the estimated initial value is $9.69 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of First Solar, Inc., maturing on or about January 27, 2028. Each Note has a $10 principal amount and is designed to pay a contingent coupon on scheduled dates only if First Solar’s share price on the related observation date is at or above a preset coupon barrier.
The Notes will be automatically called before maturity if First Solar’s share price on any observation date (other than the final one) is at or above the initial level, in which case investors receive $10 per Note plus any due contingent coupon and no further payments. If not called, and the final share price is at or above a stated downside threshold, investors receive the $10 principal at maturity.
If the Notes are not called and the final share price is below the downside threshold, the repayment is reduced in line with the share price decline, and investors can lose up to 100% of principal. The Notes are unsecured obligations of UBS, are not FDIC-insured, will not be listed on an exchange, and carry both market risk tied to First Solar and UBS credit risk. The estimated initial value per Note on the trade date is expected to be between $9.44 and $9.69.