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

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on or about January 22, 2029. These unsecured, unsubordinated notes may pay quarterly contingent coupons only when Broadcom’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 can be automatically called each quarter starting about six months after issuance if the share price 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 Broadcom’s final share price is at or above a downside threshold at maturity, investors receive principal back; if it is below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero.

The minimum investment is 100 notes at $10 per note, and the estimated initial value on the trade date is expected to be between $9.37 and $9.62 per $10 note. The issuer emphasizes that these notes are significantly riskier than conventional debt, may result in losing a significant portion or all of the initial investment, will not be listed on an exchange, and all payments depend on the creditworthiness of UBS.

UBS AG is offering $466,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock, maturing January 24, 2028. These unsecured debt notes pay a contingent coupon only if Micron’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.

The notes can be 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 $10 principal per Note plus any due contingent coupon, and the product terminates.

If the notes are not called, principal is repaid in full at maturity only if the final share price is at or above a downside threshold. If the final price is below this threshold, repayment is reduced in line with Micron’s percentage decline, and investors can lose all of their initial investment. All payments depend on UBS’s credit, there is no listing on an exchange, and the estimated initial value per Note is $9.78 versus the $10 issue price.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about January 24, 2028. These are unsecured, unsubordinated debt obligations of UBS, so all payments depend on UBS’s credit strength.

Investors receive a contingent coupon only if Micron’s share price on each observation date is at or above a preset coupon barrier. 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 which case investors receive principal plus the applicable coupon and the product terminates.

If the notes are not called and Micron’s final share price is at or above a downside threshold, investors receive full principal at maturity (plus any final contingent coupon). If the final share price is below the downside threshold, repayment is reduced one-for-one with Micron’s decline, and investors can lose all of their investment. UBS estimates the initial value of each $10 note will be between $9.41 and $9.66, reflecting internal funding and pricing assumptions.

UBS AG is offering $165,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Newmont Corporation, maturing July 22, 2027. These unsecured debt securities can pay periodic contingent coupons, but only if Newmont’s share price on each observation date is at or above a preset coupon barrier; if it is below, no coupon is paid for that period.

The notes are automatically called early if Newmont’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per note plus any due coupon and the product terminates. If the notes are not called and Newmont’s final share price is at or above the downside threshold on the final valuation date, investors receive their principal back (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 minimum investment is 100 notes at $10 each, and the estimated initial value is $9.77 per note. All payments depend on UBS’s ability to meet its obligations, 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 Newmont Corporation, maturing on or about July 22, 2027. The Notes pay a contingent coupon only when the underlying stock closes at or above a preset coupon barrier on each observation date. They are automatically called early, returning principal plus any due coupon, if the stock is at or above its 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 only the principal 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 decline and can fall to zero. 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 $100,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock, maturing January 22, 2029. These unsecured debt notes pay a contingent coupon only if Micron’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.

The notes are automatically called early if Micron’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus the applicable contingent coupon, with no further payments. If not called, and Micron’s final stock level is at or above the downside threshold, investors receive full principal back at maturity, potentially plus a final contingent coupon.

If the notes are not called and Micron’s final level is below the downside threshold, repayment is reduced one-for-one with the stock’s decline, and investors can lose all of their investment. The minimum investment is 100 Notes ($1,000), and the estimated initial value is $9.64 per $10 Note, with all payments subject to UBS’s creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about January 22, 2029. These unsecured debt securities pay a contingent coupon only when Micron’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 Micron’s share 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 not called and Micron’s final share price is at or above the downside threshold, investors receive full principal at maturity; if it is below that level, repayment is reduced in line with Micron’s percentage loss, and all principal can be lost.

Illustrative terms include a 24.69% per annum contingent coupon with a downside threshold and coupon barrier each set at 60.00% of the initial level. The estimated initial value per $10 note on the trade date is expected to be between $9.33 and $9.58. All payments depend on UBS’s creditworthiness, and the notes are not FDIC insured or exchange‑listed.

UBS AG is offering $2,025,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CoreWeave, Inc., maturing on July 20, 2027. These unsecured debt notes pay a contingent coupon at a rate of 37.65% per annum only if CoreWeave’s closing stock price on a monthly observation date is at or above the $57.01 coupon barrier, which is 60% of the $95.01 initial level.

The notes are automatically called, and principal is repaid early, if the stock closes at or above the $95.01 call threshold (100% of the initial level) on any observation date after three months, in which case investors also receive the applicable contingent coupon. If not called, and the final stock level on the July 15, 2027 valuation date is at or above the $47.51 downside threshold (50% of the initial level), investors receive full principal back, plus any final contingent coupon. If the final level is below the downside threshold, repayment is reduced one-for-one with the stock’s percentage decline, and investors can lose all of their initial investment.

The notes are not listed, may have limited or no secondary market, and their estimated initial value is $944.60 per $1,000 note, below the issue price. All payments depend on UBS’s creditworthiness, and the product carries significant market, liquidity, and issuer credit risks.

UBS AG is offering $4,048,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock, maturing on July 20, 2027.

The Notes pay a monthly contingent coupon at a rate of 23.25% per annum ($19.375 per $1,000 Note) only when Micron’s closing price is at or above the coupon barrier of $201.98, which is 60.00% of the $336.63 initial level. The Notes are automatically called at par plus coupon if Micron closes at or above the call threshold level of $336.63 (100.00% of the initial level) on any monthly observation date after three months.

If not called, investors receive full principal back at maturity only if the final Micron price is at or above the downside threshold of $168.32 (50.00% of the initial level; below that, principal is reduced one-for-one with Micron’s decline and can be fully lost. The Notes are unsecured obligations of UBS AG, not listed on any exchange, sold at $1,000 per Note with an estimated initial value of $972.10 and issuer proceeds of $981.25 per Note.

UBS AG London Branch is offering Capped Leveraged Buffered MSCI EAFE® Index-Linked Medium-Term Notes that pay no interest and return a cash amount at maturity based on the performance of the MSCI EAFE Index. For each $1,000 face amount, investors get 160.00% of any positive index return, but the payoff is capped by a maximum settlement amount expected to be between $1,130.72 and $1,153.76 per $1,000.

If the index falls by up to 12.50% from its initial level, investors receive $1,000 at maturity; below that buffer, they lose approximately 1.1429% of face amount for each additional 1% decline and could lose their entire investment. The notes are unsecured obligations of UBS, will not be listed, may have little or no secondary market, have an estimated initial value between $965.50 and $995.50 per $1,000, and involve complex U.S. tax and withholding considerations.

UBS AG is offering Trigger Autocallable Yield Notes linked to the common stock of Datadog, Inc., due January 20, 2028, with a total offering size of $450,000 and a denomination of $1,000 per Note. Holders receive a fixed coupon at a rate of 13.00% per annum, paid monthly, regardless of Datadog’s share performance, unless the Notes are called early.

The Notes are automatically called on any monthly observation date beginning after six months if Datadog’s closing price is at or above the call threshold level of $122.41, which equals 100% of the initial level. If called, holders receive principal plus the coupon due for that date and no further payments.

If the Notes are not called and Datadog’s final level on the valuation date is at or above the downside threshold of $67.33 (55% of the initial level), holders receive full principal at maturity. If the final level is below this threshold, the maturity payment is reduced dollar-for-dollar with Datadog’s percentage decline, and principal losses can reach 100%. The Notes are unsecured obligations of UBS, have an estimated initial value of $985.60 per Note, are not listed on any exchange and carry UBS credit and liquidity risk.

UBS AG is offering $3,000,000 of unsecured “Airbag Autocallable Yield Notes” linked to the worst performer among Amazon, Microsoft and NVIDIA, maturing January 21, 2028. The Notes pay a fixed 10.65% per annum coupon quarterly, regardless of stock performance, unless they are automatically called. Beginning after 6 months, if on any quarterly observation date all three stocks close at or above 100.00% of their initial levels, the Notes are automatically called and investors receive $1,000 per Note plus the coupon, with no further payments.

If the Notes are not called and at maturity all three stocks are at or above 70.00% of their initial levels, investors receive full principal back. If any stock finishes below 70.00%, investors receive shares of the worst-performing stock instead of cash, based on preset share delivery amounts (5.9977 Amazon, 3.1283 Microsoft or 7.6371 NVIDIA per $1,000 Note), which is expected to be worth less than principal and can result in a significant or total loss. The Notes are not listed, carry UBS credit risk, and their estimated initial value is $962.10 per $1,000 issue price.

UBS AG is offering $32,000,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing in July 2029. The notes pay a 10.85% per annum contingent coupon only if all three indices stay at or above their coupon barriers (70% of initial levels) on every trading day in a quarter; a single intraday breach cancels that quarter’s coupon. UBS can call the notes quarterly, returning principal plus any due coupon, ending future payments. If the notes are not called and any index finishes below its downside threshold (60% of its initial level), investors lose principal in line with the worst index and could lose their entire investment. Payments depend on UBS’s credit, and the estimated initial value is $9.90 per $10 note.

UBS AG is offering $2,484,000 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 on December 21, 2027.

The Notes pay a monthly contingent coupon at an annual rate of 11.55% ($9.625 per $1,000) only if, on each observation date, all three indices close at or above their coupon barriers set at 70% of initial levels, which also serve as downside thresholds. UBS may call the Notes in whole on any monthly observation date beginning after three months, paying principal plus any due coupon.

If the Notes are not called and, at maturity, any index finishes below its downside threshold, investors receive $1,000 × (1 + return of the worst index), leading to losses up to a total loss of principal. The Notes are unsecured obligations of UBS, are not listed, have limited liquidity, and carry both market risk on the indices and UBS credit and bail-in risk. The estimated initial value is $975.60 per $1,000, below the issue price due to fees, hedging and internal funding costs.

UBS AG is offering $520,000 of Trigger Callable Contingent Yield Notes linked to the S&P 500® Index, maturing on January 19, 2029. Each $1,000 Note pays a 7.00% per annum contingent coupon (monthly coupons of $5.8333) only if, on an observation date, the S&P 500 closing level is at or above the coupon barrier of 4,858.01, which is 70.00% of the initial level of 6,940.01.

UBS can call the Notes in whole on any monthly observation date 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 the index on the final valuation date is at or above the downside threshold of 4,511.01 (65.00% of the initial level), investors receive full principal back; if it is below this level, repayment is reduced one-for-one with the index loss, and investors can lose all of their investment.

The Notes are unsecured debt of UBS, are not deposits, carry UBS credit risk, will not be listed on an exchange, and their estimated initial value of $977.80 per Note is below the $1,000 issue price due to fees, hedging and internal funding assumptions.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator Index, maturing on January 22, 2032. The total offering size is $1,060,000, in denominations of $1,000 per Note.

The Notes pay a high 18.10% per annum contingent coupon, evaluated monthly, but only when the index closes at or above the coupon barrier of 193.75, which is 70% of the initial level of 276.78. Beginning after six months, the Notes are automatically called if the index is at or above the call threshold of 276.78; investors then receive principal plus that period’s coupon, and the product terminates.

If not called and the final index level is at or above the downside threshold of 138.39 (50% of the initial level), investors receive full principal back (plus any last coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced one-for-one with the index decline, up to a total loss of principal.

The Notes are unsecured, unsubordinated obligations of UBS, not FDIC-insured, and all payments depend on UBS’s credit. They are not listed on any exchange. The estimated initial value is $963.90 per Note, below the $1,000 issue price, reflecting dealer compensation, hedging and funding costs.

UBS AG is offering $7,456,000 of Buffer Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing in January 2031. These unsecured senior notes pay a 6.25% per annum contingent coupon (about $5.2083 per $1,000 monthly) only if both indices stay at or above their coupon barriers on each observation date.

The notes are automatically called at par plus any due coupon if, beginning after 12 months, both indices are at or above 100% of their initial levels on an observation date. If not called and both final index levels are at or above their downside thresholds (85% of initial), investors receive full principal back; otherwise, principal is reduced in line with the loss on the worst-performing index beyond a 15% buffer, and losses can be severe. The estimated initial value is $945.60 per $1,000, below issue price, reflecting fees and UBS’s internal funding rate, and all payments depend on UBS’s creditworthiness.

UBS AG is offering approximately 5-year Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000 Index, the S&P 500 Index and the Utilities Select Sector SPDR Fund. The Notes pay a contingent coupon at a rate of 9.70% per annum, but only for months when the closing level of each underlying is at or above 70% of its initial level.

UBS may call the Notes in whole, but not in part, on quarterly call dates starting about six months after issuance, paying back principal plus any due coupon, after which no further payments are made. If the Notes are not called and, at maturity in early 2031, every underlying is at or above its 70% downside threshold, investors receive full principal back; otherwise, repayment is reduced one-for-one with the negative return of the worst-performing underlying, and investors can lose up to their entire investment.

The Notes are unsecured, unsubordinated UBS obligations, not FDIC-insured, not listed on any exchange, and their value and payments depend on UBS’s credit and potential Swiss regulatory resolution powers. The estimated initial value is expected to be between $951.70 and $981.70 per $1,000 Note, below the issue price.

UBS AG is offering $1,179,000 of Trigger Autocallable Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing on January 22, 2032. The Notes may be automatically called quarterly, beginning after 12 months, if the index closes at or above the call threshold of 297.77, paying investors $1,000 principal plus a call return based on a 28.40% per annum rate. If never called and the final index level is at or above the downside threshold of 148.89, investors receive $1,000 per Note at maturity. If the final level is below the downside threshold, repayment is reduced in line with the index loss, and investors can lose all principal. The estimated initial value is $963.70 per $1,000 Note, and all payments depend on UBS’s creditworthiness.

UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest, linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index, Financial Select Sector SPDR Fund (XLF) and Utilities Select Sector SPDR Fund (XLU), maturing January 17, 2030. The Notes pay a contingent coupon at 9.10% per annum ($7.5833 per $1,000 note per month) only if on an observation date each underlying is at or above its coupon barrier (75% of its initial level). Missed coupons can be paid later under the memory feature if conditions are later met. After 12 months, the Notes are automatically called if each underlying is at or above its call threshold (100% of initial level), returning principal plus due and unpaid coupons. If not called, principal is repaid at maturity only if every underlying finishes at or above its downside threshold (65% of initial level); otherwise, repayment is reduced one-for-one with the loss in the worst performer, up to a total loss. All payments depend on the creditworthiness of UBS, and the Notes are unsecured, not listed, and may have limited liquidity. The estimated initial value is $981.30 per $1,000 note, below the issue price.

UBS AG is offering $11,976,000 of Trigger Callable Contingent Yield Notes linked to the least performing of four underlying assets: the Nasdaq-100 Index®, the Russell 2000® Index, the iShares® 20+ Year Treasury Bond ETF and the Utilities Select Sector SPDR® Fund. The Notes pay a contingent coupon at an annual rate of 11.00% (about $9.1667 per $1,000 monthly) only if on each observation date every underlying is 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 principal plus any due coupon. If not called, and at maturity in January 2031 every underlying is at or above its downside threshold, set at 60% of its initial level, investors receive full principal. If any underlying finishes below its downside threshold, repayment is reduced 1:1 with the negative return of the worst performer, and investors can lose all of their investment. All payments depend on UBS’ credit, and the estimated initial value is $989.70 per $1,000 Note.

UBS AG is offering Digital MSCI EAFE® Index-Linked Medium-Term Notes that pay no interest and expose investors to the price performance of the MSCI EAFE Index over roughly 19–22 months. At maturity, each $1,000 note pays a cash amount based on the index level on the determination date, not during the term. If the final index level is at or above 87.50% of the initial level, investors receive a capped payout expected between $1,101.30 and $1,119.10 per $1,000.

If the index falls more than 12.50% from its initial level, principal losses are magnified: holders lose about 1.1429% of face amount for every 1% decline beyond the buffer, and could lose their entire investment. The notes are unsecured obligations of UBS AG London Branch, are not FDIC insured, will not be listed, and may have little or no secondary market. The estimated initial value is expected between $968.00 and $998.00 per $1,000, reflecting internal funding and hedging costs, and the tax treatment as a prepaid derivative contract involves significant U.S. federal income tax uncertainty, including potential Section 871(m) and FATCA considerations.

UBS AG is offering $744,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index, maturing January 19, 2029. Each Note has a $1,000 principal amount and pays a contingent coupon at 11.25% per annum (monthly $9.375) only if, on the relevant observation date, all three indices close at or above their coupon barriers set at 70% of initial levels, which are also the downside thresholds.

UBS may call the Notes in whole, beginning after three months, paying principal plus any due coupon; no further payments follow. If not called and all final index levels are at or above their downside thresholds, investors receive full principal at maturity (plus any final coupon). If any index finishes below its downside threshold, repayment is reduced one-for-one with the negative return of the worst-performing index, and investors can lose their entire investment.

The Notes are unsecured, unsubordinated obligations of UBS AG, not listed on any exchange, and carry UBS credit risk. The estimated initial value is $969.00 per $1,000 Note, reflecting underwriting discounts, hedging and issuance costs.

UBS AG is offering $15,008,000 of Buffered Digital Notes linked to the S&P 500® Index, maturing on February 3, 2027. Each $1,000 Note pays an 8.00% digital return at maturity if the index final level is at or above the downside threshold of 6,246.01, which is 90.00% of the 6,940.01 initial level.

If the final level is below the downside threshold, repayment of principal is not protected. In that case, investors lose approximately 1.1111% of principal for every 1% index decline beyond the 10.00% buffer, and can lose their entire investment. The Notes pay no interest, do not provide dividends, and all payments depend on the creditworthiness of UBS.

The minimum investment is $10,000 (10 Notes). The estimated initial value is $988.50 per $1,000 Note, below the issue price, reflecting underwriting discounts, hedging and issuance costs. The Notes will not be listed on an exchange and may have limited or no secondary market liquidity.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of three underlyings: the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector Index (NDXT) and the Energy Select Sector SPDR Fund (XLE). The Notes have a 3‑year term, $1,000 denomination and a 12.15% per annum contingent coupon, paid monthly only if the closing level of each underlying is at or above its coupon barrier, set at 70% of its initial level.

UBS may call the Notes in whole on any monthly observation date beginning after six months, returning principal plus any due coupon, after which no further payments are made. If not called and each final level is at or above its downside threshold (50% of initial level), investors receive full principal back at maturity. If any final level is below its downside threshold, repayment is reduced one‑for‑one with the negative return of the worst performer, and principal loss can reach 100%.

The Notes are unsecured, unsubordinated debt of UBS, not insured by the FDIC, will not be listed on an exchange, and their market value and any payments depend on UBS’s credit. The estimated initial value is expected between $953.50 and $983.50 per $1,000 Note, below the issue price due to underwriting and hedging costs. UBS Securities LLC receives a $7.00 per Note underwriting discount; proceeds to UBS are $993.00 per $1,000 Note.

UBS AG is offering Trigger Callable Contingent Yield Notes, unsecured debt linked to the least performing of the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, maturing around December 27, 2027. The Notes pay a 9.30% per annum contingent coupon (about $7.75 per $1,000 monthly) only if each index is at or above 70% of its initial level on the relevant observation date; otherwise no coupon is paid.

UBS may call the Notes in whole on any monthly observation date starting after three months, returning principal plus any due coupon, ending all future payments. If not called and every index finishes at or above its 70% downside threshold, investors receive full principal at maturity. If any index ends below its threshold, the maturity payment is reduced one-for-one with the worst index’s loss, up to a total loss of principal.

The Notes are not listed, can be difficult to sell, and all payments depend on UBS’s credit. The estimated initial value is expected between $943.10 and $973.10 per $1,000 issue price, reflecting fees and UBS’s internal funding assumptions.

UBS AG is offering $2,065,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq‑100 Technology Sector Index and Russell 2000 Index, maturing on January 19, 2029.

The Notes pay a contingent coupon at an annual rate of 11.55% (about $28.875 per $1,000 per quarter) only if, on each observation date, all three indices close at or above 70% of their initial levels. UBS can call the Notes in whole, starting after six months, paying back principal plus any due coupon, ending all future payments.

If the Notes are not called and any index finishes below its downside threshold (70% of its initial level) at maturity, investors lose principal in line with the negative return of the worst index, up to a total loss. Payments depend entirely on UBS’s credit. The estimated initial value is $974.40 per $1,000, below the issue price due to fees, funding and hedging costs.

UBS AG is offering $1,389,000 of Trigger Callable Contingent Yield Notes linked to the S&P 500® Index, maturing July 21, 2027. Each $1,000 Note pays a contingent coupon of 6.75% per annum (about $5.625 monthly) only when the index closes at or above the coupon barrier of 4,858.01, which is 70% of the initial level of 6,940.01. UBS can call the Notes in whole on any monthly observation date after six months, returning principal plus any due coupon, ending all future payments.

If the Notes are not called and on the final valuation date the S&P 500® is at or above the downside threshold of 4,858.01, investors receive full principal back (plus the final contingent coupon if the barrier is met). If the index finishes below the downside threshold, repayment is reduced one-for-one with the index loss, and investors can lose all of their investment. The Notes are unsecured obligations of UBS, not insured deposits, and all payments depend on UBS’s credit. The estimated initial value is $983.50 per $1,000 Note, lower than the issue price due to fees, funding and hedging costs.

UBS AG is issuing $1,050,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., maturing on January 19, 2029. Each Note has a $1,000 principal amount and offers an 11.85% per annum contingent coupon (paid monthly as $9.875) only when Netflix’s closing price on an observation date is at or above the $61.60 coupon barrier, which is 70% of the $88.00 initial level.

The Notes are subject to automatic call on monthly observation dates beginning after six months if Netflix closes at or above the $88.00 call threshold (100% of the initial level). If called, investors receive principal plus the applicable coupon, and the Notes terminate early.

If not called, and Netflix’s final level on the valuation date is at or above the $61.60 downside threshold, UBS repays principal (and the final coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced one-for-one with Netflix’s decline, and investors can lose up to 100% of principal. The Notes are unsecured, unsubordinated debt of UBS, not listed on an exchange, and have an estimated initial value of $961.20 per $1,000, reflecting fees, hedging and UBS’s internal funding rate.

UBS AG is offering $2,586,000 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 on December 21, 2027. The Notes pay a contingent coupon at a rate of 10.80% per annum (about $9.00 per $1,000 per month) only if, on each monthly observation date, all three indices close at or above their coupon barriers, set at 70% of their initial levels.

UBS may call the Notes in whole on any observation date starting after six months, repaying principal plus any due coupon, after which no further payments are made. If not called, investors receive full principal at maturity only if each index is at or above its downside threshold (also 70% of initial). If any index finishes below its threshold, the payoff is reduced one-for-one with the decline of the worst index, and investors can lose all principal. The estimated initial value is $973.40 per $1,000, and returns depend on UBS’s credit and a limited, likely illiquid secondary market.

UBS AG is issuing $3,331,000 of Capped Buffer GEARS, unsecured debt securities linked to an equally weighted basket composed of the Invesco S&P 500® Equal Weight ETF and the Russell 2000® Index. Each Security has a $1,000 principal amount and a term of about 18 months, maturing on July 21, 2027.

If the basket return is positive, investors receive the principal plus the lesser of the basket return times the 1.10 upside gearing and a maximum gain of 16.85%, capping the payment at $1,168.50 per Security. If the basket return is zero or negative but the final basket level stays at or above the 90.00 downside threshold (a 10% buffer), investors receive their full principal.

If the final basket level falls below the downside threshold, repayment is reduced dollar-for-dollar beyond the buffer using a formula of $1,000 × [1 + (Basket Return + 10%)], and investors can lose almost all of their investment. The Securities pay no interest, are not listed on an exchange, and all payments depend on the creditworthiness of UBS AG, with an estimated initial value of $974.80 per Security.

UBS AG is offering $5,380,000 of Trigger Autocallable Contingent Yield Notes due January 19, 2029, linked to the worst performer among the Energy Select Sector SPDR Fund (XLE), Utilities Select Sector SPDR Fund (XLU) and Health Care Select Sector SPDR Fund (XLV). The Notes pay a contingent coupon at a rate of 9.05% per annum (about $7.5417 per $1,000 per month) only if on an observation date each ETF closes at or above its coupon barrier, set at 70% of its initial level.

Starting after six months, the Notes are automatically called if each ETF is at or above its call threshold, set at 100% of its initial level, returning principal plus any due coupon, with no further payments. If not called and at maturity any ETF finishes below its downside threshold (also 70% of initial), investors suffer a loss matching that ETF’s percentage decline and can lose their entire investment.

The Notes are unsecured UBS obligations, are not listed on any exchange, and carry UBS credit risk. The estimated initial value is $971 per $1,000 Note, below the $1,000 issue price, reflecting underwriting discounts of $17.50 per Note and other issuer costs.

UBS AG is offering $2,843,000 of Trigger Callable Contingent Yield Notes, $1,000 per Note, linked to the least performing of the Nasdaq-100 Technology Sector Index, Russell 2000 Index and S&P 500 Index, maturing on January 19, 2029.

The Notes pay a 10.90% per annum contingent coupon (about $9.0833 per month) only if, on each monthly 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 starting after three months, paying back principal plus the applicable coupon and ending all future payments.

If the Notes are not called and each index finishes at or above its 70% downside threshold, investors receive full principal at maturity. If any index finishes below its threshold, repayment is reduced one-for-one with the worst index’s loss, up to a total loss of principal. The Notes are unsecured obligations of UBS; all payments depend on UBS’s credit. The estimated initial value is $967 per $1,000 Note, below issue price.

UBS AG is offering $1,037,000 of Trigger Callable Contingent Yield Notes due April 21, 2027, each with a $1,000 principal amount. The notes pay a 10.40% per annum contingent coupon (about $8.6667 per month) only if on each monthly observation date the Nasdaq‑100, Russell 2000 and S&P 500 are all at or above their coupon barriers, set at 70% of their initial levels. UBS can call the notes in whole on any observation date starting after three months, returning principal plus any due coupon, after which no further payments are made.

If the notes are not called and on the final valuation date any index finishes below its downside threshold (also 70% of its initial level), repayment is reduced one‑for‑one with the decline of the worst‑performing index, and investors can lose all principal. The notes are unsecured obligations of UBS AG London Branch, with an estimated initial value of $988.90 per $1,000 note, and will not be listed on an exchange.

UBS AG is offering $250,000 of Trigger Autocallable Contingent Yield Notes linked to the worst performer among three sector ETFs: Energy Select Sector SPDR, Utilities Select Sector SPDR and Health Care Select Sector SPDR, maturing in January 2029.

The Notes pay a contingent coupon at a rate of 9.05% per annum (about $7.5417 per $1,000 note monthly) only if on an observation date each ETF is at or above its coupon barrier, set at 70% of its initial level. Starting after six months, if all three ETFs are at or above 100% of their initial levels on an observation date, the Notes are automatically called and investors receive principal plus that period’s coupon.

If the Notes are not called and at maturity any ETF is below its downside threshold (also 70% of initial), repayment is reduced 1-for-1 with the worst ETF’s loss, potentially down to zero. Investors forego all ETF dividends, may receive no coupons, face limited or no liquidity, and bear full credit risk of UBS. The estimated initial value is $970.30 per $1,000, below the issue price due to fees, hedging costs and UBS’s internal funding rate.

UBS AG is issuing $7,577,000 of Trigger Callable Contingent Yield Notes linked to the worst performer among the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector Index (NDXT) and the Utilities Select Sector SPDR Fund (XLU), maturing on July 20, 2028. The Notes pay an 11.25% per annum contingent coupon (monthly $9.375 per $1,000) only if on an observation date each underlying is at or above its coupon barrier, set at 60% of its initial level, which also serves as the downside threshold.

UBS may call the Notes in whole, starting after three months, paying principal plus any due coupon, after which no further payments are made. If the Notes are not called and each final level is at or above its downside threshold, investors receive full principal at maturity; if any final level is below its threshold, repayment is reduced in line with the negative return of the worst-performing underlying, and all principal can be lost. Payments depend on UBS’s credit, the Notes will not be listed, and the estimated initial value is $980.90 per $1,000 due to fees, funding and hedging costs.

UBS AG is offering $2,000,000 of Airbag Callable Contingent Yield Notes linked to the least performing of the VanEck Oil Services ETF (OIH) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), maturing January 21, 2027. The Notes pay a contingent coupon at a 14.55% per annum rate (about $12.125 per $1,000 note per month) only if on each observation date the closing level of both ETFs is at or above their coupon barriers, set at 80% of initial levels ($261.70 for OIH and $104.22 for XOP). UBS may call the Notes in whole on any monthly observation date beginning after three months, paying principal plus any due coupon. If not called and both final ETF levels are at or above their downside thresholds (also 80% of initial), investors receive full principal back; if any ETF finishes below its downside threshold, repayment is reduced with 1.25x leveraged downside beyond a 20% buffer, up to total loss of principal. Any payment depends on UBS’s credit, and the estimated initial value is $992.50 per $1,000 note.

UBS AG is issuing $2,000,000 of trigger autocallable notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing in January 2030. Each Note has a $1,000 principal amount and may be automatically called on annual observation dates if both indexes close at or above their call threshold levels, set at 100% of their initial levels. If called, investors receive principal plus a call return based on a 10.25% per annum call return rate, with call prices ranging from $1,102.50 after one year to $1,410.00 at maturity.

If the notes are not called and the final level of each index is at or above its downside threshold of 70% of the initial level, investors receive their $1,000 principal back. If at least one index finishes below its downside threshold, the payout is reduced dollar-for-dollar with the negative performance of the worst-performing index, and investors can lose up to all of their investment. The notes pay no interest or dividends, will not be listed on an exchange, have limited or no secondary market, and all payments are subject to the unsecured credit risk of UBS AG.

UBS AG is offering $395,000 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 January 21, 2028. The Notes pay a contingent coupon at an annual rate of 11.00% (about $9.1667 per $1,000 per month) only when, on a monthly observation date, each 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, on any observation date and, if it does, pays back principal plus any due coupon, with no further payments. If the Notes are not called and, at maturity, each index is at or above its 70% downside threshold, investors receive full principal; if any index is below its threshold, repayment is reduced one-for-one with the decline of the worst-performing index, up to a total loss of principal.

The Notes are unsecured, unsubordinated obligations of UBS AG London Branch, carry an estimated initial value of $971.70 per $1,000 Note, will not be listed on any exchange and expose holders to UBS credit risk, equity market risk in all three indices, potential non-payment of coupons, early call and limited liquidity.

UBS AG is offering $900,000 of Trigger Callable Contingent Yield Notes, issued in $1,000 denominations and maturing on January 22, 2031. The Notes are linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index.

Investors receive a monthly contingent coupon at an annual rate of 11.00% (about $9.1667 per $1,000) only if on each observation date all three indices are at or above their coupon barriers, set at 75% of initial levels. UBS may, at its discretion, call the Notes in whole on any monthly observation date after six months, paying back principal plus any due coupon, ending all further payments.

If the Notes are not called and on the final valuation date any index closes below its downside threshold (60% of its initial level), repayment is reduced one-for-one with the worst index’s decline and can fall to zero. Any payment depends on UBS’s credit. The estimated initial value is $963.90 per $1,000 Note, below the issue price, reflecting fees, hedging and UBS’s internal funding rate.

UBS AG is offering trigger autocallable contingent yield notes linked to the Nasdaq-100 Index® and the Russell 2000® Index with a term of about three years, maturing on or about January 25, 2029. The notes pay a contingent quarterly coupon only if on an observation date both indices close at or above their coupon barriers, set at 70% of initial levels in the term sheet. The notes may be automatically called after six months if both indices are at or above call thresholds (100% of initial levels in the examples), returning principal plus the applicable coupon.

If not called, and at maturity both indices finish at or above their downside thresholds (also 70% of initial levels in the term sheet), investors receive full principal back, plus any final coupon if barriers are met. If any index ends below its downside threshold, repayment is reduced one-for-one with the negative return of the least performing index, and investors can lose some or all of their investment. Coupons are not guaranteed, secondary liquidity may be limited, and all payments depend on the creditworthiness of UBS. The preliminary documents note an estimated initial value per note below the $10 issue price, reflecting fees, funding and hedging costs.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator Index, maturing on or about January 22, 2032. Each Note has a $1,000 principal amount and pays a contingent coupon of 18.10% per annum, in monthly installments, but only when the index closes at or above a coupon barrier set at 70% of the initial level.

Starting after six months, the Notes are automatically called if the index is at or above 100% of the initial level on any observation date, returning principal plus that month’s coupon. If not called, and at maturity the index is at or above a 50% downside threshold, investors receive full principal; if it finishes below that level, repayment is reduced one‑for‑one with the index decline, and all principal can be lost.

The Notes are unsecured, unsubordinated obligations of UBS, not listed on any exchange, and expose investors to UBS credit risk and complex index features, including 6.0% per annum decrements, leverage up to 500% and a volatility‑targeting strategy. The estimated initial value is $933.90–$963.90 per $1,000 issue price, reflecting fees, hedging and funding costs.

UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to Intel common stock, maturing on January 21, 2028. These unsecured, unsubordinated notes pay a contingent coupon only if Intel’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.

The notes are automatically called early if Intel’s share price on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and no further payments. If the notes are not called and Intel’s final share price is at or above the downside threshold, investors receive their full principal back (and a final coupon if the barrier is met). If the final share price is below the downside threshold, repayment is reduced in line with Intel’s percentage decline, up to a total loss of principal.

Any payment depends on UBS’s creditworthiness, the notes are not FDIC insured, will not be listed on an exchange, and the estimated initial value is $9.73 per $10 note, with a minimum investment of 100 notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, maturing on or about January 21, 2028. These unsecured senior notes pay a contingent coupon only when Intel’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid.

The notes are automatically called early if Intel’s share price on an observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and the notes terminate. If not called, investors receive full principal at maturity only if the final Intel share price is at or above a downside threshold; below that level, repayment is reduced one-for-one with Intel’s decline and investors can lose all of their investment. A hypothetical example uses a 17.63% per annum contingent coupon and a downside threshold and coupon barrier at 60% of the initial level. The notes are sold in minimums of 100 notes at $10 per note, are not FDIC insured, will not be listed on an exchange, and all payments depend on UBS’s creditworthiness.

UBS AG is offering $110,000 of Trigger Autocallable Contingent Yield Notes linked to Amazon.com, Inc. common stock, maturing January 21, 2027. These unsecured debt securities 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 can be called early if Amazon’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus any due coupon, and the notes terminate.

If the notes are not called and Amazon’s final share price on the January 19, 2027 valuation date is at or above the downside threshold, investors receive full principal back (and a final coupon if the coupon barrier is also met). If the final price is below the downside threshold, repayment of principal is reduced in line with the stock’s percentage loss, and investors can lose their entire investment. An example shows a 7.20% per annum contingent coupon with a downside threshold and coupon barrier at 70% of the initial level. The minimum investment is 100 Notes ($1,000). The notes are not listed on any exchange, have an estimated initial value of $9.75 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 Amazon.com, Inc., maturing on or about January 21, 2027. These unsecured, unsubordinated debt obligations pay a contingent coupon only if Amazon’s closing price on each 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 Amazon’s price on any observation date (before the final valuation date) 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 Amazon’s final level on the final valuation date is at or above the downside threshold, investors receive their $10 principal per Note at maturity. If the final level is below the downside threshold, the maturity payment is reduced in line with the stock’s decline and can fall to zero, meaning a total loss of principal. The product is issued at $10 per Note with a minimum $1,000 investment, and the estimated initial value is expected to be between $9.44 and $9.69 per Note, reflecting internal UBS pricing and funding assumptions. All payments depend on UBS’s credit and the notes will not be listed on any exchange.

UBS AG is offering $110,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc., maturing on January 21, 2027. These unsecured debt obligations pay a contingent coupon only if Alphabet’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid.

The notes can be automatically called before maturity if Alphabet’s stock closes 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 the product terminates. If not called, and Alphabet’s final level is at or above the downside threshold, principal is repaid at maturity; if it is below that threshold, repayment is reduced in line with Alphabet’s percentage decline, and investors could lose their entire investment. Payments depend on UBS’s credit, and the estimated initial value per note is $9.74 versus a $10 issue price.

UBS AG is offering $575,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp, maturing on January 21, 2028. The Notes pay a contingent coupon only when Vistra’s closing level on an observation date is at or above a coupon barrier; in the hypothetical example, a 17.72% per annum rate produces a $0.443 coupon on a $10 Note when conditions are met.

The Notes can be automatically called if Vistra’s level reaches or exceeds the initial level on an observation date, in which case investors receive $10 per Note plus any due coupon and the product terminates. If not called, and Vistra’s final level is at or above the downside threshold (60.00% of the initial level in the example), principal is repaid; if it finishes below that threshold, repayment is reduced in line with the share decline and total loss of principal is possible. All payments depend on UBS’s credit, the estimated initial value is $9.78 versus a $10 issue price, and the minimum investment is 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc., maturing on or about January 21, 2027. These unsecured debt securities pay a contingent coupon only when Alphabet’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 may be automatically called before maturity if Alphabet’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 $10 principal per Note plus any due coupon and no further payments. If the Notes are not called and Alphabet’s final level is at or above the downside threshold, principal is repaid at maturity; if it is below that threshold, repayment is reduced in line with Alphabet’s loss, and investors could lose their entire investment.

Illustrative terms include a $10 principal amount per Note, a minimum investment of 100 Notes ($1,000), a 7.29% per annum contingent coupon rate (about $0.1823 per period), and a downside threshold and coupon barrier of $70.00, which is 70.00% of the initial level. The estimated initial value is expected to range from $9.44 to $9.69 per $10 Note. All payments depend on the creditworthiness of UBS.