Every 424B that ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow AMUB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AMUB filings page.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Olin Corporation, maturing around January 20, 2028. These unsecured debt notes pay contingent coupons only if Olin’s share price on scheduled observation dates is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes can be called early if Olin’s share price on any observation date before maturity is at or above the initial level, in which case investors receive their principal plus any due coupon and the notes terminate. If the notes are not called and Olin’s share price on the final valuation date is at or above a downside threshold, investors receive their full principal at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and investors can lose all of their investment.
The minimum investment is 100 notes at $10 per note. The estimated initial value per note on the trade date is expected to be between $9.30 and $9.55, reflecting internal pricing and funding considerations. All payments depend on UBS’s credit; if UBS defaults, investors may recover nothing. The notes will not be listed on any exchange, and secondary trading, if any, may be limited.
UBS AG is offering $927,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of American Eagle Outfitters, Inc., maturing January 22, 2029. These are unsecured, unsubordinated debt obligations of UBS, not of American Eagle, and all payments depend on UBS’s credit.
Investors may receive high contingent coupons, illustrated at a 21.16% per annum rate, but only when the stock closes at or above a preset coupon barrier on quarterly observation dates. The notes can be called early if the stock closes at or above its initial level on an observation date, in which case holders receive principal plus any due coupon and the notes terminate.
If the notes are not called and the stock finishes at or above the downside threshold at maturity, principal is repaid; if it finishes below that threshold, repayment is reduced in line with the stock’s percentage loss, and investors could lose their entire investment. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.61 per note, reflecting UBS’s internal pricing and funding costs. The notes are not listed on any exchange and are described as significantly riskier than conventional debt.
UBS AG is offering $1,250,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing January 20, 2028. These unsecured notes pay a contingent coupon only when Marvell’s share price on an observation date is at or above a coupon barrier set at 70.00% of the initial level, with an indicated contingent coupon rate of 26.18% per annum on the $10 principal amount.
The notes are automatically called early if Marvell’s stock closes at or above the initial level on any observation date before maturity, in which case holders receive $10 per note plus the applicable contingent coupon and no further payments. If not called and the final stock level is at or above the downside threshold, set equal to the 70.00% coupon barrier, investors receive their $10 principal plus the final coupon; if it is below, repayment is reduced one-for-one with the stock’s decline, up to a total loss of principal.
The minimum investment is 100 notes ($1,000), the estimated initial value is $9.81 per $10 note, the notes will not be listed on an exchange, and all payments depend on UBS’s creditworthiness.
UBS AG is offering $150,000 of Trigger Autocallable Contingent Yield Notes linked to Vertiv Holdings Co common stock, maturing on January 20, 2028. The Notes pay a contingent coupon, illustrated at 21.13% per annum or $0.5283 per $10, only if Vertiv’s share price on each observation date is at or above a coupon barrier set at 60% of the initial level. The Notes are automatically called early if Vertiv closes at or above the initial level on any observation date, returning the $10 principal per Note plus the applicable coupon.
If the Notes are not called and Vertiv’s final level on the valuation date is at or above the downside threshold (also 60% of the initial level), investors receive their $10 principal per Note, plus any final coupon. If the final level is below the downside threshold, repayment is reduced dollar-for-dollar with Vertiv’s decline, and investors can lose all of their initial investment. The minimum investment is 100 Notes ($1,000), the estimated initial value is $9.74 per $10 Note, the Notes are not listed on any exchange, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., scheduled to mature on or about January 20, 2027. These unsecured debt securities pay a contingent coupon only if, on each observation date, the Marvell share price is at or above a specified 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 investors receive the principal plus the applicable contingent coupon, with no further payments.
If the notes are not called and, on the final valuation date, Marvell’s share price is at or above a downside threshold, investors receive full principal back (and 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 stock’s decline, and investors can lose all of their investment. The notes are subject to UBS 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 $9.50 and $9.75 per $10 note.
UBS AG is offering $378,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on January 20, 2027. These unsecured debt notes pay a contingent coupon only if Dell’s share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period. The notes can be 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 the $10 principal per note plus the due coupon and the product terminates.
If the notes are not called and Dell’s final stock level is at or above the downside threshold, investors receive full principal back at maturity, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with Dell’s percentage decline, and investors can lose their entire investment. Payments depend on UBS’s credit; a default by UBS could result in total loss. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.86 per note. The notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of American Eagle Outfitters, Inc., maturing on or about January 22, 2029. These unsecured debt securities can pay periodic contingent coupons, but only if the stock closes on each observation date at or above a specified coupon barrier.
The notes are automatically called early if, on any quarterly observation date beginning after six months, the stock closes at or above its initial level. In that case, investors receive their principal plus any due contingent coupon and the investment ends. If the notes are not called and the stock on the final valuation date is at or above a downside threshold, investors receive their full principal; if it is below that threshold, repayment is reduced in line with the stock’s loss and all principal can be lost.
The minimum investment is 100 notes at $10 per note. The estimated initial value on the trade date is expected to be between $9.22 and $9.47 per note. All payments depend on the creditworthiness of UBS, and the notes will not be listed on any exchange.
UBS AG is offering $120,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on January 20, 2027. The notes pay a contingent coupon only when NVIDIA’s closing price on an observation date is at or above a preset coupon barrier, and UBS may automatically call the notes early if the stock closes at or above the initial level on any observation date before maturity.
If the notes are not called and NVIDIA’s final price is at or above the downside threshold, investors receive back the $10 principal amount per note, plus any due contingent coupon. If the final price is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and investors can lose their entire investment. Payments depend on UBS’s credit, the notes are not listed on an exchange, and the estimated initial value is $9.75 per $10 note, reflecting internal pricing and funding costs.
UBS AG is offering $325,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Norwegian Cruise Line Holdings Ltd., maturing January 20, 2027. These unsecured notes pay contingent coupons only if the stock closes on or above a preset coupon barrier on each observation date; otherwise no coupon is paid for that period.
The notes are automatically called early if the stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the $10 principal per note plus any due coupon and the product terminates. If not called, and on the final valuation date the stock is at or above the downside threshold, principal is repaid in full; if it is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all of their initial investment.
Any payment depends on UBS’s creditworthiness, the notes will not be listed on an exchange, the minimum investment is 100 notes ($1,000), and the estimated initial value is $9.81 per $10 note according to UBS’ internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on or about January 20, 2028. These are unsecured debt obligations of UBS, not bank deposits and not FDIC insured.
UBS will pay a contingent coupon on each observation date only if Marvell’s share price is at or above a coupon barrier; otherwise no coupon is paid for that period. The notes are automatically called early if, on any observation date before maturity, the share price is at or above the initial level, in which case investors receive the principal plus any due coupon and the product terminates.
If the notes are not called and the final share level is at or above a downside threshold, investors receive full principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with the share’s decline and all principal can be lost. The estimated initial value is expected to be between $9.43 and $9.68 per $10 note, reflecting UBS internal pricing and funding.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. stock, maturing January 20, 2027. These unsecured debt notes pay a contingent coupon only when Marvell’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid.
The notes can be called early if Marvell’s stock is at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus the due contingent coupon and no further payments. If not called, and the final stock level is at or above the downside threshold, investors receive their principal back, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and all principal can be lost.
The minimum investment is 100 Notes at $10 each, and the estimated initial value per Note is $9.74. Any payment depends on UBS’s credit; a UBS default could result in losing the entire investment. An example term sheet shows a 19.93% per annum contingent coupon rate, highlighting both the high income potential and significant market and credit risks.
UBS AG is offering $125,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation. The Notes pay a contingent coupon only when the stock closes at or above a preset coupon barrier on each observation date; in the examples, the contingent coupon rate is 13.11% per annum with a barrier set at 60% of the initial stock level.
The Notes can be automatically called before maturity if the stock closes at or above its initial level on an observation date, in which case investors receive the $10 principal per Note plus any due coupon and the Notes terminate. If not called, and at maturity in January 2027 the stock is at or above the downside threshold (also 60% of the initial level in the examples), investors receive full principal back, plus any final coupon if the barrier is met.
If the Notes are not called and the final stock level is below the downside threshold, repayment is reduced one-for-one with the stock’s decline from the initial level, so investors can lose most or all of their investment. The estimated initial value is $9.74 per $10 Note, and all payments depend on UBS’s ability to meet its obligations.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vertiv Holdings Co, with a scheduled maturity on January 20, 2028. These unsecured debt notes pay contingent coupons only when Vertiv’s share price on an observation date is at or above a specified coupon barrier; no coupon is paid otherwise.
The notes can be automatically called early if Vertiv’s share price on any observation date before maturity is at or above the initial level, in which case investors receive their principal plus the due contingent coupon and the notes terminate. If the notes are not called and Vertiv’s final price 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 Vertiv’s decline and all principal can be lost.
The notes are issued in $10 denominations with a minimum investment of 100 notes, and all payments depend on the creditworthiness of UBS. The estimated initial value per $10 note on the trade date is expected to be between $9.41 and $9.66, reflecting internal UBS pricing and funding assumptions.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., with an expected term from January 15, 2026 to January 20, 2027. These are unsecured, unsubordinated debt obligations of UBS that pay contingent coupons only when Dell’s closing share price on an observation date is at or above a preset coupon barrier.
The notes can be automatically called early if Dell’s share price on any observation date before the final valuation date is at or above the initial level, in which case investors receive the principal plus any due coupon and the notes terminate. If the notes are not called and Dell’s final share price is at or above a downside threshold, investors receive full principal back at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and all principal can be lost. Payments depend on UBS’s credit, the notes will not be listed on an exchange, the minimum investment is 100 notes at $10 each, and the estimated initial value is expected to be between $9.49 and $9.74 per note.
UBS AG is offering $325,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., scheduled to mature on January 20, 2027.
These unsecured debt notes can pay contingent coupons only if Dow’s closing share price on each observation date, including the final valuation date, is at or above a preset coupon barrier. The notes are automatically called early if Dow’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 the notes are not called and Dow’s final share level is at or above a defined downside threshold, investors receive their $10 principal back at maturity. If the final level is below that threshold, repayment is reduced in line with Dow’s percentage decline and can fall to zero, meaning total loss of principal. The notes are issued in $10 denominations with a minimum $1,000 investment, have an estimated initial value of $9.80 per note, are not listed on any exchange, and all payments depend on the creditworthiness of UBS AG.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with a trade date of January 15, 2026 and a scheduled maturity on January 20, 2027. These unsubordinated, unsecured debt obligations pay contingent coupons only if the NVIDIA 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 NVIDIA’s closing level on any observation date before the final valuation date is at or above the initial level, in which case investors receive principal plus any due coupon and the Notes terminate. If the Notes are not called and the final level on January 15, 2027 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 all of their initial investment.
All payments, including any contingent coupons and principal, depend on UBS’s credit. The Notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, require a minimum $1,000 investment, and have an estimated initial value between $9.44 and $9.69 per $10 Note.
UBS AG is offering $225,000 of Trigger Autocallable Contingent Yield Notes linked to the shares of the iShares MSCI Brazil ETF, scheduled to mature on January 22, 2029. These unsecured debt obligations pay contingent coupons only when the ETF’s closing level on an observation date is at or above a preset coupon barrier.
The notes are automatically called if, on any observation date before maturity, the ETF’s level is at or above the initial level; in that case, investors receive the $10 principal per Note plus any due coupon, and the product terminates. If the notes are not called and the final ETF level is at or above a downside threshold, investors receive their principal back; if it is below that threshold, repayment is reduced in line with the ETF’s decline and all principal can be lost.
Any payment depends on UBS’s credit; a default could result in a total loss. The notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, require a minimum purchase of 100 Notes at $10 each, and have an estimated initial value of $9.63 per Note as of the trade date.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Norwegian Cruise Line Holdings Ltd., with a scheduled maturity on or about January 20, 2027. Each Note has a principal amount of $10, and the minimum investment is 100 Notes, or $1,000.
Investors may receive contingent coupons only if the stock closes at or above a preset coupon barrier on each observation date. In the hypothetical example, the contingent coupon rate is 18.79% per annum
If the Notes are not called and the final stock level is at or above the downside threshold, principal is repaid at maturity, with any contingent coupon due. If the final level is below the downside threshold, repayment is reduced in line with the stock’s negative return, and investors can lose a significant portion or all of their initial investment. Payments depend on the creditworthiness of UBS, the estimated initial value is between $9.45 and $9.70 per $10 Note, 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 Marvell Technology, Inc., maturing on or about January 20, 2027. These unsecured debt obligations can pay contingent coupons only when Marvell’s 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 Marvell’s stock closes at or above the initial level on any observation date before the final valuation date, in which case holders receive the principal plus any due coupon and no further payments. If not called, and the final stock level is at or above a downside threshold, investors receive only their principal back. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors could lose all principal.
The minimum investment is 100 notes at $10 per note. UBS expects the estimated initial value per note on the trade date to be between $9.43 and $9.68, based on its internal pricing models. All payments depend on the creditworthiness of UBS, the notes will not be listed on an exchange, and the documents emphasize that these securities are significantly riskier than conventional debt.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on or about January 20, 2027. These are unsecured, unsubordinated debt obligations of UBS.
The Notes can pay a contingent coupon on each observation date if Constellation’s share price is at or above a preset coupon barrier. In the hypothetical example, the contingent coupon rate is 11.61% per annum, or $0.2903 per $10 Note, with the downside threshold and coupon barrier each at $60.00, or 60.00% of the initial level.
The Notes are automatically called if the stock closes at or above the initial level on any observation date before final valuation; investors then receive principal plus the applicable contingent coupon, with no further payments. If not called, and the final stock level is at or above the downside threshold, investors receive principal (and a 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 investment. Any payment depends on the creditworthiness of UBS. The minimum investment is $1,000 (100 Notes at $10 each).
UBS AG is offering $120,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc., maturing January 20, 2027. These unsecured, unsubordinated notes pay a contingent coupon only on observation dates when the Freeport-McMoRan share price is at or above a preset coupon barrier; if it is below, no coupon is paid for that period. The notes can be called early if the share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and the product terminates.
If the notes are not called and the final share price on January 15, 2027 is at or above a downside threshold, investors receive full principal at maturity; if it is below, repayment is reduced in line with the share’s decline and total loss of principal is possible. Any payment depends on UBS’s credit, and the notes are not bank deposits or FDIC insured. The minimum investment is 100 notes at $10 each, and the estimated initial value per note is $9.73. The notes will not be listed on any securities exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., each with a $10 principal amount and a term to about January 20, 2027. The notes can pay periodic contingent coupons only when Dow’s closing level on an observation date is at or above a preset coupon barrier, and they are automatically called early if Dow’s level on an observation date (before final valuation) is at or above the initial level.
If the notes are not called and Dow’s final level is at or above the downside threshold, holders receive the $10 principal at maturity, plus any final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with Dow’s negative return, and investors can lose all of their investment. All payments depend on UBS’s credit, and the estimated initial value is expected to be between $9.43 and $9.68 per $10 note.
UBS AG is offering $700,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on January 20, 2028. The Notes may pay contingent coupons only if Oracle’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 Oracle’s share price on any observation date before maturity is at or above the initial level, in which case investors receive their $10 principal per Note plus any due coupon, and the Notes terminate. If the Notes are not called and Oracle’s final level is at or above the downside threshold, investors receive their full principal at maturity; if it is below the downside threshold, repayment is reduced in line with Oracle’s decline and can fall to zero.
The Notes are unsecured, unsubordinated debt of UBS, sold in minimum investments of 100 Notes at $10 each. Any payment, including principal, depends on UBS’s creditworthiness, and the estimated initial value per $10 Note is $9.82. The Notes will not be listed on any exchange, and investors are repeatedly warned they may lose a significant portion or all of their initial investment.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the iShares MSCI Brazil ETF, maturing on or about January 22, 2029. These market-linked notes can pay periodic contingent coupons only if, on each observation date, the ETF’s closing level is at or above a preset coupon barrier.
The notes are automatically called early if the ETF closes at or above its initial level on any observation date before the final valuation date, in which case investors receive the principal plus that period’s contingent coupon and the note terminates. If not called, investors receive full principal at maturity only if the final ETF level is at or above a downside threshold; otherwise, repayment is reduced in line with the ETF’s decline and can fall to zero.
The notes are subject to the credit risk of UBS AG, will not be listed on any exchange, and are offered in minimums of 100 notes at $10 per Note. The estimated initial value per Note on the trade date is expected to be between $9.34 and $9.59, reflecting UBS internal pricing and funding assumptions.
UBS AG is offering $1,250,000 of Trigger Autocallable Contingent Yield Notes linked to Intel Corporation common stock, maturing on January 20, 2028. These unsecured debt notes pay a contingent coupon only when Intel’s closing 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 before maturity if Intel’s share price 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 the product terminates. If not called, and at maturity Intel’s share price is at or above the downside threshold, investors receive full principal back, with any final coupon if the barrier is also met.
If the notes are not called and Intel’s final share price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their initial investment. All payments depend on UBS’s credit, the notes are not FDIC insured, will not be listed on an exchange, and the estimated initial value per Note is $9.82 versus a $10 issue price.
UBS AG is offering $325,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Polaris Inc., maturing on January 20, 2027. These notes pay a contingent coupon only if the Polaris 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 the stock closes at or above its initial level on any observation date before the final valuation date, in which case investors receive the $10 principal per note plus the applicable 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.
Any payment depends on the creditworthiness of UBS, and the notes are unsecured, unsubordinated obligations that are not insured or exchange-listed. The minimum investment is 100 notes ($1,000), and the estimated initial value is $9.73 per $10 note based on UBS’s internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc., with a trade date of January 15, 2026 and maturity on or about January 20, 2027. Each Note has a principal amount of $10, with a minimum investment of 100 Notes (a $1,000 investment).
The Notes pay contingent coupons only if the stock closes at or above a specified coupon barrier on each observation date; otherwise no coupon is paid. The Notes are automatically called early if the stock closes at or above its initial level on any observation date before the final valuation date, in which case investors receive principal plus the applicable contingent coupon and no further payments.
If the Notes are not called, investors receive full principal at maturity only if the final stock level is at or above a downside threshold. If it is below that threshold, repayment is reduced in line with the stock’s decline and investors can lose their entire investment. The Notes are unsecured debt of UBS, are not insured or listed, and their estimated initial value is expected to be between $9.41 and $9.66 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing around January 20, 2028. These unsecured debt notes can pay periodic contingent coupons only if Oracle’s closing level on each observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes are automatically called early if Oracle’s closing level on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and the product terminates. If the notes are not called and Oracle’s final level is at or above the downside threshold at maturity, investors receive the full principal (and a final coupon if Oracle is also above the coupon barrier). If Oracle’s final level is below the downside threshold, repayment is reduced in line with Oracle’s decline, and investors can lose all of their investment.
The preliminary document highlights significant risks, including market risk tied to Oracle, the possibility of receiving no coupons, lack of listing on an exchange and full exposure to the credit risk of UBS. A hypothetical example illustrates a contingent coupon rate of 21.60% per annum on a $10 note, with an estimated initial value expected between $9.44 and $9.69 per $10 principal.
UBS AG is offering $125,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on January 20, 2027. Each Note has a $10 principal amount and pays a contingent coupon, at a rate of 9.97% per annum in the examples, only if CrowdStrike’s share price on an observation date is at or above a coupon barrier set at 60% of the initial level.
The Notes can be called early if the 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 Notes terminate. If not called, and the final share price is at or above a downside threshold equal to 60% of the initial level, investors receive full principal back, potentially with a final coupon. If the final share price is below the downside threshold, repayment is reduced one-for-one with the stock’s decline, and investors can lose all of their investment.
Any payment, including coupons and principal, depends on UBS’s credit. The Notes are not listed, have an estimated initial value of $9.76 per $10 Note, and require a minimum purchase of 100 Notes, or $1,000.
UBS AG is offering $125,000 of Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock, maturing January 20, 2027. These unsecured debt notes pay a contingent coupon only if NVIDIA’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid.
The notes can be called early if NVIDIA’s price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal per Note plus the applicable coupon and the notes terminate. If the notes are not called and NVIDIA’s final level is at or above the downside threshold, investors receive their principal back at maturity, potentially with a final coupon.
If the notes are not called and NVIDIA’s final level is below the downside threshold, repayment is reduced dollar-for-dollar with the stock’s decline, and the entire principal can be lost. Payments depend on UBS’s credit, and the estimated initial value is $9.76 per $10 Note, below the issue price. The minimum investment is 100 Notes, or $1,000.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Polaris Inc., maturing on or about January 20, 2027. Each Note has a principal amount of $10 and is designed to pay contingent coupons only when Polaris’ closing stock price on an observation date is at or above a specified coupon barrier.
The Notes are automatically called early if Polaris’ closing level 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 Polaris on the final valuation date is at or above a downside threshold, investors receive only the $10 principal per Note. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all of their investment. Payments depend on the creditworthiness of UBS, and the estimated initial value per $10 Note is expected to be between $9.37 and $9.62.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, maturing on or about January 20, 2028. These unsecured debt notes pay a high contingent coupon only when Intel’s closing stock price on an observation date is at or above a coupon barrier set at $70.00, which is 70.00% of the initial level.
The notes are automatically called early if Intel’s stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the $10 principal per note plus the applicable contingent coupon and no further payments. If the notes are not called and Intel’s final level is at or above the $70.00 downside threshold, investors receive the $10 principal plus any final contingent coupon; if the final level is below the threshold, repayment of principal is reduced in line with Intel’s negative return and can fall to zero.
The indicative contingent coupon rate is 24.74% per annum, or $0.6185 per period on a $10 note, and the estimated initial value is expected to be between $9.44 and $9.69 per note. The minimum investment is 100 notes at $10 each. All payments depend on UBS’s creditworthiness, and the notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of First Solar, Inc., priced at $10 per Note with a minimum investment of 100 Notes. Investors receive contingent quarterly coupons only when First Solar’s stock closes at or above a preset coupon barrier on the relevant observation date; otherwise, no coupon is paid.
The Notes can be automatically called after 12 months if the stock closes at or above the initial level on an observation date, in which case UBS repays the principal plus any due coupon and the Notes terminate early. If the Notes are not called and, at maturity in January 2027, the stock is at or above the downside threshold, principal is repaid in full. If the stock is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their investment. All payments depend on UBS’s credit, the Notes will not be listed, and the estimated initial value is $9.75 per $10 Note, reflecting internal pricing and funding costs.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on or about January 20, 2027. These unsecured debt notes pay a contingent coupon only if on each observation date the stock closes at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if the stock closes at or above its initial level on any observation date before the final valuation date. If called, investors receive the $10 principal per Note plus the applicable contingent coupon and no further payments. If not called, and the final stock level is at or above the downside threshold, investors receive the full principal at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s negative return, up to a total loss of principal.
The minimum investment is 100 Notes at $10 each, and the estimated initial value is expected between $9.44 and $9.69 per Note. All payments depend on the creditworthiness of UBS AG, and the Notes will not be listed on any securities exchange.
UBS AG is offering $500,000 of Airbag Autocallable Yield Notes linked to Alphabet Inc. common stock, maturing January 20, 2028. These unsecured debt securities pay a coupon on each quarterly coupon payment date regardless of Alphabet’s share performance, unless the notes are automatically called.
Starting about six months after issuance, if Alphabet’s closing level on any quarterly observation date is at or above the initial level, the notes are automatically called and investors receive the $1,000 principal per note plus the applicable coupon, with no further payments. If the notes are not called and Alphabet’s final level on the January 18, 2028 final valuation date is at or above a preset conversion level, UBS repays principal in cash at maturity plus the last coupon.
If the notes are not called and the final level is below the conversion level, investors receive Alphabet shares based on a share delivery amount instead of principal, plus the final coupon, and can lose some or all of their initial investment. The estimated initial value is $986 per $1,000 note, and all payments are subject to UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about January 20, 2027. These unsecured debt obligations can pay contingent coupons only when the NVIDIA stock 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 NVIDIA’s closing level on any observation date before maturity is at or above the initial level, in which case holders receive principal plus any due contingent coupon and no further payments. If the Notes are not called and the final NVIDIA level is at or above the downside threshold, investors receive only the principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with the negative stock return, and investors can lose all of their initial investment.
Payments depend on the creditworthiness of UBS, and the Notes will not be listed on any exchange. The minimum investment is 100 Notes at $10 per Note, and the estimated initial value per Note on the trade date is expected to be between $9.44 and $9.69, based on UBS’ internal pricing models.
UBS AG is offering $125,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Carnival Corporation, maturing January 20, 2027. These unsecured notes pay a contingent coupon only if Carnival’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 Carnival’s share 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 the final share price is at or above the downside threshold, principal is repaid at maturity.
If the notes are not called and the final share price is below the downside threshold, repayment is reduced in line with Carnival’s negative return, and investors can lose all of their investment. The notes are subject to UBS’s credit risk, are not FDIC insured, will not be listed on an exchange, have a minimum purchase of 100 notes ($1,000), and have an estimated initial value of $9.72 per $10 note.
UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes linked to Apple Inc. common stock, which combine periodic contingent coupons with potential early redemption. Investors receive a coupon on each observation date only if Apple’s closing price is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes can be called automatically before maturity if Apple’s share price is at or above the initial level on an observation date, in which case investors receive their $10 per Note principal plus any due coupon and the product terminates. If the notes are not called and Apple’s final level on July 16, 2027 is at or above the downside threshold, investors receive full principal at maturity; if it is below that threshold, they lose the same percentage as Apple’s decline and could lose their entire investment. Payments depend on UBS’s credit, and the estimated initial value is $9.87 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 First Solar, Inc., maturing on or about January 20, 2027. These unsecured 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 on certain quarterly observation dates if the share price is at or above the initial level, in which case investors receive their principal plus any due coupon and the notes terminate early. If not called, investors receive full principal at maturity only if the final share price is at or above a downside threshold; if it is below, repayment is reduced in line with the share’s decline and total loss is possible.
The minimum investment is 100 notes at $10 each, and the estimated initial value is expected to be between $9.43 and $9.68 per note. All payments depend on the creditworthiness of UBS, and the notes will not be listed on any exchange.
UBS AG is offering $387,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock, maturing January 20, 2028. These unsecured notes pay a contingent coupon only if Micron’s share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Micron’s price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal per note plus any due coupon and no further payments. If the notes are not called and Micron’s final price on the valuation date is at or above the downside threshold, investors receive full principal back, with any final coupon.
If the notes are not called and Micron’s final price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their initial investment. Payments depend on UBS’s credit, the estimated initial value is $9.78 per $10 note, and the notes will not be listed on an exchange.
UBS AG is offering preliminary "Airbag Autocallable Yield Notes" linked to the common stock of Alphabet Inc., maturing on or about January 20, 2028. These are unsecured, unsubordinated debt obligations of UBS.
Investors receive fixed coupons on each quarterly coupon payment date regardless of Alphabet’s performance, unless the notes are automatically called. The notes are automatically called, beginning after six months, if Alphabet’s closing level on any quarterly observation date is at or above the initial level, in which case investors receive the principal amount plus the due coupon and the notes terminate early.
If the notes are not called and Alphabet’s final level on the January 18, 2028 final valuation date is at or above a specified conversion level, UBS repays principal at maturity plus the coupon. If the final level is below the conversion level, investors receive a fixed number of Alphabet shares (and cash for any fraction), expected to be worth less than principal, so some or all of the initial investment may be lost.
The estimated initial value per note on the trade date is expected to be between $956.00 and $981.00, based on UBS internal pricing models. Any payment or share delivery depends on UBS’s credit; the notes are not listed and involve significant risks compared with conventional debt.
UBS AG is offering $2,000,000 of Trigger Autocallable Contingent Yield Notes linked to NVIDIA Corporation common stock, maturing on January 22, 2029. These unsecured debt notes can pay periodic contingent coupons only when NVIDIA’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 may be automatically called early if NVIDIA’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 no further payments.
If the notes are not called and NVIDIA’s final share price on the January 18, 2029 valuation date is at or above a downside threshold, investors receive back the $10 principal per note, plus any final contingent coupon. If the final share price is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and the entire principal can be lost. Any payment depends on UBS’s credit, and the estimated initial value is $9.75 per $10 note, reflecting UBS’s internal pricing and funding.
UBS AG is offering $120,000 of Trigger Autocallable Contingent Yield Notes linked to Lam Research Corporation stock, maturing January 20, 2028. These $10 notes may pay contingent coupons only when Lam Research’s share price on an observation date is at or above a preset coupon barrier, and the notes can be automatically called early if the share price is at or above the initial level on any observation date before maturity.
If the notes are not called and Lam Research’s final share price on the January 18, 2028 valuation date is at or above the downside threshold, investors receive back the $10 principal per note, plus any contingent coupon due. If the final share 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 unsecured UBS obligations, have an estimated initial value of $9.73 per $10, are not listed on an exchange, and require a minimum $1,000 investment.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Carnival Corporation, with a scheduled maturity on or about January 20, 2027. These unsecured debt notes may pay periodic contingent coupons, but only if Carnival’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 before maturity if the stock closes at or above its initial level on an observation date, in which case investors receive the principal plus any due coupon and the product terminates. If the notes are not called and the stock is at or above a downside threshold at final valuation, principal is repaid; if it is below that threshold, repayment is reduced in line with the stock’s loss, and investors could lose their entire investment.
The notes are issued in $10 denominations, with a minimum investment of 100 notes ($1,000). The estimated initial value is expected to be between $9.40 and $9.65 per $10 note. 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 Apple Inc. stock, with principal at risk and contingent income. The Notes pay a coupon on each observation date only if Apple’s closing share price is at or above a preset coupon barrier; otherwise no coupon is paid for that period. If on any observation date before maturity Apple closes at or above the initial level, the Notes are automatically called and investors receive $10 per Note plus any due coupon, with no further payments.
If the Notes are not called and on the final valuation date Apple is at or above a downside threshold, UBS repays the $10 principal per Note at maturity around July 20, 2027. If Apple finishes below the downside threshold, repayment is reduced in line with Apple’s percentage decline, and investors can lose some or all of their initial investment. The minimum investment is 100 Notes at $10 each, and the estimated initial value is expected between $9.50 and $9.75 per Note. All payments depend on UBS’s credit, and the Notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about January 20, 2028. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not FDIC insured.
The Notes may pay a contingent coupon on each coupon payment date only if Micron’s closing stock price on the related observation date is at or above a coupon barrier. The Notes are automatically called if, on any observation date before the final valuation date, Micron’s stock closes at or above the initial level; in that case, investors receive the principal amount plus any due coupon, and no further payments.
If the Notes are not called and Micron’s final level is at or above a downside threshold, investors receive the principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their investment. Any payment depends on UBS’s credit. The Notes are expected to settle T+2, will not be listed on an exchange, have a minimum investment of 100 Notes at $10 each, and an estimated initial value between $9.42 and $9.67 per Note.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about January 22, 2029. These $10-denomination notes can pay contingent coupons only when NVIDIA’s closing stock price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if NVIDIA’s price on any observation date (before final valuation) 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 NVIDIA’s final level is at or above a downside threshold, investors receive full principal back at maturity, potentially with a final coupon; if the final level is below the threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The notes are not listed, involve significant market and credit risk, and are structurally riskier than conventional debt. The preliminary examples show a contingent coupon rate of 10.57% per annum with a downside threshold and coupon barrier set at 60% of the initial level, and an estimated initial value between $9.36 and $9.61 per $10 note.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, maturing on or about January 20, 2028. These market-linked notes pay contingent coupons only when the stock closes at or above a preset coupon barrier on scheduled observation dates; otherwise no coupon is paid for that period.
The notes are automatically called early if Lam Research’s share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and the notes terminate. If the notes are not called and the final stock level is at or above a downside threshold, investors receive their principal at maturity; if it is below this threshold, repayment is reduced in line with the stock’s decline and losses can reach 100% of principal.
The minimum investment is 100 notes at $10 per note, and the estimated initial value per note on the trade date is expected to be between $9.42 and $9.67. All payments depend on the creditworthiness of UBS, the notes will not be listed on an exchange, and they are not bank deposits or FDIC insured.
UBS AG is offering $1,715,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing in January 2031. The notes pay a 9.15% per annum contingent coupon (about $7.625 per $1,000 note monthly) only if on each observation date both indices close at or above 70% of their initial levels.
UBS can call the notes in whole, starting after three months, on any monthly observation date and repay $1,000 per note plus any due coupon, ending future payments. If the notes are not called and at maturity both indices are at or above 60% of their initial levels, investors receive full principal back, plus any final coupon if both are also above the coupon barriers.
If at maturity either index finishes below its 60% downside threshold, repayment is reduced in line with the percentage loss of the worst-performing index, and investors can lose most or all of their principal. All payments depend on UBS’s ability to meet its debt obligations.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock, each with a $10 principal amount and an approximately 12‑month term, due January 20, 2027. The notes pay an 11.50% per annum contingent coupon (about $0.2875 per quarter) only if Oracle’s closing level on each observation date is at or above the coupon barrier.
The initial level is $193.61. The call threshold is 100.00% of that level, so the notes are automatically called early, returning principal plus the coupon, if Oracle closes at or above $193.61 on any non‑final observation date. The coupon barrier and downside threshold are both $96.81, or 50.00% of the initial level.
If the notes are not called and Oracle’s final level is at or above the downside threshold, investors receive back the $10 principal. If the final level is below the downside threshold, repayment is reduced one‑for‑one with Oracle’s decline, and investors can lose all of their investment. The notes are unsecured, unsubordinated obligations of UBS, are not listed on any exchange, and carry full UBS credit risk. The minimum investment is 100 notes ($1,000).