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 Texas Instruments Incorporated, maturing on or about January 10, 2028. Each Note has a principal amount of $10, with a minimum investment of 100 Notes (a $1,000 investment).
Investors may receive periodic contingent coupons only if the stock closes at or above a specified coupon barrier on each observation date. The Notes are automatically called early if the stock closes at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable contingent coupon and no further payments.
If the Notes are not called and the stock is at or above the downside threshold at maturity, investors receive their principal back (and any final contingent coupon if conditions are met). If the stock is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors could lose all of their initial investment. Payments are unsecured obligations of UBS and depend on its creditworthiness. The Notes will not be listed on any exchange. The estimated initial value per $10 Note on the trade date is expected to be between $9.42 and $9.67.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of V.F. Corporation, maturing on January 10, 2028. The Notes pay a contingent coupon only if the stock closes at or above a coupon barrier on each observation date; otherwise no coupon is paid. UBS will automatically call the Notes early if the stock closes at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable coupon and no further payments.
If the Notes are not called and the final stock level is at or above the downside threshold (70% of the initial level, or $70.00 in the hypothetical example), investors receive full principal back; if it is below, repayment is reduced in line with the stock’s decline, and total loss of principal is possible. A hypothetical example uses a $10 principal amount, a 25.03% per annum contingent coupon (about $0.6258 per period), and illustrates both positive returns and losses over 50%. The minimum investment is 100 Notes at $10 each, and the estimated initial value per Note is $9.65. All payments depend on the creditworthiness of UBS.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of V.F. Corporation, maturing on or about January 10, 2028. These notes can pay contingent coupons, but only if the stock closes on each observation date at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes are automatically called early if, on any observation date before maturity, the stock closes at or above its 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 only their 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 some or all of their initial investment. All 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.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about January 10, 2028. These are unsecured, unsubordinated debt obligations of UBS.
Investors receive a contingent coupon only if NVIDIA’s closing share price on each observation date is at or above a coupon barrier; otherwise no coupon is paid for that period. The notes can be 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 contingent coupon and the notes terminate.
If the notes are not called and NVIDIA’s final share price is at or above a downside threshold, investors receive back the principal at maturity, potentially with a final coupon. If the final share price is below the downside threshold, repayment is reduced in line with the negative return of the stock and investors can lose all of their investment. The notes are issued in $10 denominations, with a minimum investment of 100 notes, and an estimated initial value between $9.44 and $9.69 per note, subject to UBS credit risk. The notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Arm Holdings plc, maturing on January 10, 2028. The Notes are unsecured, unsubordinated debt of UBS and are issued in $10 denominations, with a minimum investment of 100 Notes (a $1,000 investment).
Investors receive a contingent coupon only if the Arm ADR closing level on an observation date (including the final valuation date) is at or above a preset coupon barrier. The Notes are automatically called early if, on any observation date before maturity, the ADR closes at or above its initial level; in that case, UBS repays principal plus the applicable contingent coupon and the Notes terminate.
If the Notes are not called and the final ADR level is at or above a downside threshold, UBS repays the $10 principal per Note at maturity (and a final contingent coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced in line with the ADR’s decline, and investors can lose all of their investment. Payments depend on UBS’s credit, the Notes are not listed, and the estimated initial value is $9.71 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, maturing on January 10, 2028. These unsecured debt notes pay a contingent coupon only if Lam Research’s share price on an observation date is at or above a coupon barrier set at 70.00% of the initial level, with a hypothetical contingent coupon rate of 23.73% per annum ($0.5933 on a $10 note).
The notes may be automatically called before maturity if the share price on any observation date (other than the final one) is at or above the initial level, in which case investors receive $10 per note plus the applicable coupon and no further payments. If the notes are not called and the final share level is at or above the downside threshold of 70.00% of the initial level, investors receive back the $10 principal per note, plus any final coupon. If the final level is below the downside threshold, repayment is reduced in line with the share price decline and can fall to zero, resulting in a complete loss of principal.
The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.71 per $10 note as of the trade date. All payments depend on the creditworthiness of UBS AG, and the notes are not insured or listed on any securities exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc. The Notes are unsecured, unsubordinated debt of UBS and are scheduled to mature on January 10, 2028, with a trade date of January 6, 2026.
Investors receive contingent coupons only if AMD’s closing stock 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 AMD’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable contingent coupon and no further payments.
If the Notes are not called and AMD’s final stock level is at or above a downside threshold, UBS repays the $10 principal per Note. If the final level is below the downside threshold, repayment is reduced in line with AMD’s percentage decline and can fall to zero, meaning a total loss of principal. The minimum investment is 100 Notes (a $1,000 investment), and the estimated initial value is $9.79 per $10 Note. Payments depend on the creditworthiness of UBS, and the Notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport‑McMoRan Inc., maturing on January 10, 2028. 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 maturity, in which case investors receive principal plus the applicable contingent coupon and no further payments. If not called, investors receive full principal at maturity only if the final stock level is at or above a downside threshold; below that level, repayment is reduced in line with the stock’s decline and can fall to zero. The notes are subject to UBS credit risk, are not insured or exchange‑listed, have a minimum investment of 100 notes at $10 each, and an estimated initial value of $9.71 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Arm Holdings plc, maturing on or about January 10, 2028. These structured notes pay a high contingent coupon only when the underlying ADR closes at or above a specified coupon barrier on each observation date.
The notes can be called early if the ADR closes at or above its initial level on an observation date, in which case investors receive their principal plus the applicable contingent coupon and no further payments. If the notes are not called and the final level is at or above the downside threshold, principal is repaid at maturity; if the final level is below the downside threshold, repayment is reduced in line with the ADR’s decline, and investors could lose their entire investment.
The notes are unsecured debt of UBS, are not bank deposits, are not insured by any governmental agency, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on or about January 10, 2028. These unsecured debt obligations may pay contingent coupons only when Oracle’s closing level on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes can be automatically called before maturity if Oracle’s closing level on an 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, principal is repaid in full at maturity only if the final Oracle level is at or above a downside threshold; below that level, repayment decreases in line with Oracle’s decline and investors could lose their entire investment.
The minimum investment is 100 Notes at $10 each, and the estimated initial value on the trade date is expected to be between $9.49 and $9.74 per Note. Payments depend on the creditworthiness of UBS, the notes will not be listed on an exchange, and investors are repeatedly warned that this product is significantly riskier than conventional debt securities.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to Uber Technologies, Inc. common stock, maturing January 8, 2027. These unsecured debt notes pay a contingent coupon only on dates when Uber’s closing share price is at or above a preset coupon barrier; if it is below that level, no coupon is paid for that period.
The notes are automatically called early if Uber’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and Uber’s closing price on the final valuation date is at or above a downside threshold, principal is repaid at maturity; if it is below that threshold, repayment is reduced in line with Uber’s percentage decline and can fall to zero.
The notes are sold in minimums of 100 notes at $10 per note, with an estimated initial value of $9.78 per note based on UBS’s internal models. All payments depend on UBS’s credit, and the notes will not be listed on an exchange, so investors face both issuer credit risk and liquidity risk in addition to stock market risk.
UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of American Airlines Group Inc., maturing on January 10, 2028. These unsecured debt notes can pay contingent coupons only on dates when the stock closes at or above a preset coupon barrier; if the stock is below that level on an observation date, no coupon is paid for that period.
The notes are automatically called early if, on any observation date before maturity, the stock closes at or above its 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 stock level is at or above a downside threshold, investors receive full principal at maturity; if it is below the threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The notes are subject to UBS’s credit risk, are not bank deposits, are not insured, and will not be listed on any exchange. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.75 per note, determined using UBS’ internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport‑McMoRan Inc., maturing on or about January 10, 2028. The Notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; if the stock is below that level, no coupon is paid for that period.
The Notes are automatically called early if, on any observation date before maturity, the stock closes at or above its initial level. In that case, investors receive the $10 principal per Note plus the applicable contingent coupon and no further payments. If the Notes are not called and, on the final valuation date, the stock is at or above the downside threshold, investors receive only their principal back (plus any final contingent coupon if the barrier is met).
If the Notes are not called and the final stock level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline from the initial level, and investors can lose a significant portion or all of their initial investment. All payments depend on the creditworthiness of UBS, and the Notes are unsecured, unsubordinated obligations that will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lyft, Inc., maturing on or about January 10, 2028. These unsecured debt notes pay a contingent coupon only if Lyft’s closing share price on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Lyft’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 no further payments. If the notes are not called and Lyft’s final share price is at or above a downside threshold, investors receive their principal back; if it is below that threshold, repayment is reduced in line with Lyft’s decline and investors can lose their entire investment.
The minimum investment is 100 notes at $10 each. UBS expects the initial value on the trade date to be between $9.40 and $9.65 per note, reflecting internal pricing and funding. All payments depend on UBS’s creditworthiness, and 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 lululemon athletica inc., each with a principal amount of $10 and a minimum investment of 100 Notes. The Notes pay a contingent coupon only when the stock closes at or above a specified coupon barrier on an observation date; otherwise no coupon is paid for that period. The Notes will be 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 holders receive the principal plus any due coupon and no further payments.
If the Notes are not called and the final stock level is at or above the downside threshold, investors receive the full principal at maturity, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s negative return, and the entire investment can be lost. The estimated initial value per Note is $9.79, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., maturing on or about January 10, 2028. These unsecured debt securities pay a contingent coupon only when Netflix’s closing price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be automatically called before maturity if Netflix’s closing level on an observation date (other than the final one) is at or above the initial level. In that case, investors receive the principal plus any due contingent coupon, and the product terminates. If the notes are not called and Netflix’s final level is at or above the downside threshold, investors receive full principal at maturity; if it is below the downside threshold, repayment is reduced in line with the share’s decline, and the entire investment can be lost.
The notes are issued in $10 denominations, with a minimum purchase of 100 notes. All payments depend on the creditworthiness of UBS AG, and the notes will not be listed on any exchange, which may limit liquidity.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Wayfair Inc., maturing on or about January 10, 2028. The notes pay a contingent coupon only if Wayfair’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 the share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus the applicable coupon and no further payments.
If the notes are not called and the final share price is at or above a downside threshold, investors receive the full principal at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero. The notes are issued in $10 denominations with a minimum investment of 100 notes, are not listed on an exchange, are not insured, and all payments depend on the creditworthiness of UBS. The estimated initial value per note is expected to be between $9.31 and $9.56.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on January 10, 2028. Each Note has a $10 principal amount and pays a contingent coupon only if Broadcom’s closing share price on an observation date is at or above a preset coupon barrier.
The Notes can be automatically called before maturity if Broadcom’s stock closes at or above the initial level on any observation date, in which case investors receive $10 per Note plus the applicable contingent coupon and no further payments. If the Notes are not called and the final share price is at or above the downside threshold, investors receive their $10 principal back (plus any final contingent coupon).
If the Notes are not called and the final share price is below the downside threshold, repayment is reduced in line with Broadcom’s percentage loss, and investors can lose all of their investment. A hypothetical structure shows a 20.52% per annum contingent coupon and a downside threshold and coupon barrier both at 70% of the initial level. The estimated initial value is $9.77 per $10 Note, and all payments depend on the creditworthiness of UBS.
UBS AG is issuing Trigger Autocallable Contingent Yield Notes linked to the common stock of Moderna, Inc., maturing January 10, 2028. These unsecured debt securities pay a contingent coupon only if, on each observation date, the Moderna share price is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes can be called early: if on any observation date before maturity the stock closes at or above the initial level, UBS will automatically redeem at the $10 principal amount per Note plus any due contingent coupon, and no further payments occur.
If the notes are not called and the final stock level on January 6, 2028 is at or above the downside threshold, investors receive only the $10 principal per Note. If the final level is below the downside threshold, the maturity payment is reduced in line with the stock’s percentage decline and can fall to zero, causing a full loss of principal. Minimum investment is 100 Notes ($1,000). The estimated initial value is $9.67 per Note, and all payments are subject to UBS’s credit, with no listing on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on or about January 10, 2028. These unsecured debt obligations pay a contingent coupon only if the Broadcom share price on an observation date, including the final valuation date of January 6, 2028, is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes can be automatically called early if Broadcom’s closing level on any observation date before maturity is at or above the initial level. In that case, holders receive the principal amount plus any due contingent coupon, and the notes terminate. If the notes are not called and Broadcom’s final level is at or above the downside threshold, investors receive only their principal at maturity.
If the notes are not called and the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and holders can lose some or all of their investment. Payments depend on UBS’s credit. The notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, and are offered in minimums of 100 notes at $10 each. The estimated initial value per note is expected to be between $9.47 and $9.72.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Albemarle Corporation, maturing on January 10, 2028. The Notes have a principal amount of $10 per Note, with a minimum investment of 100 Notes (a $1,000 investment). A contingent coupon is paid only if, on each observation date, Albemarle’s share price is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The Notes can be automatically called early if Albemarle’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the principal plus the applicable contingent coupon and no further payments. If the Notes are not called and Albemarle’s final level is at or above the downside threshold, UBS repays the principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and the entire investment can be lost.
The document illustrates a hypothetical contingent coupon rate of 27.25% per annum and shows that the downside threshold and coupon barrier can each be set at 70.00% of the initial level. The estimated initial value is $9.72 per Note, below the $10 issue price. All payments depend on the creditworthiness of UBS, and the Notes will not be listed on any securities exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes, unsecured debt linked to the common stock of Moderna, Inc., maturing on or about January 10, 2028. The Notes may pay contingent coupons only if Moderna’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 are automatically called early if Moderna’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 the final share level is at or above a downside threshold, investors receive principal at maturity; if it is below this threshold, repayment is reduced in line with the stock’s decline and all principal can be lost.
The Notes are subject to UBS’s credit risk, will not be listed on any exchange, require a minimum investment of 100 Notes at $10 each, and have an estimated initial value per Note between $9.37 and $9.62.
UBS AG is offering $2,000,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Valero Energy Corporation, maturing on January 10, 2028. These are unsubordinated, unsecured debt obligations of UBS.
Investors receive a contingent coupon on each coupon payment date only if Valero’s closing share price on the related observation date is at or above a preset coupon barrier. The notes can be automatically called quarterly, beginning after six months, if Valero’s share price is at or above the initial level; in that case, investors receive principal plus the applicable contingent coupon, and the notes terminate early.
If the notes are not called and Valero’s final share price on the January 6, 2028 valuation date is at or above a downside threshold, investors receive full principal at maturity, plus any final contingent coupon if the coupon barrier is met. If the final price is below the downside threshold, repayment is reduced in line with Valero’s decline, and investors can lose some or all of their initial investment. Payments depend on UBS’s credit, and the notes will not be listed on any exchange. The estimated initial value is $9.82 per $10 note.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Target Corporation, maturing on or about January 10, 2028. These notes can pay contingent coupons only if Target’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 Target’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 no further payments. If the notes are not called and Target’s final share price is at or above a downside threshold, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with Target’s loss and can fall to zero.
All payments depend on the creditworthiness of UBS AG, and the notes are not insured or listed on an exchange. The estimated initial value per $10 note is expected to be between $9.41 and $9.66, reflecting UBS’s internal pricing and funding considerations.
UBS AG is offering preliminary Trigger Autocallable Contingent Yield Notes linked to the common stock of Albemarle Corporation, maturing on or about January 10, 2028. These are unsecured, unsubordinated debt obligations of UBS with a principal amount of $10 per Note and a minimum investment of 100 Notes ($1,000).
Investors may receive periodic contingent coupons only if the Albemarle share price on each observation date, including the final valuation date, is at or above a specified coupon barrier. The Notes are automatically called early if the share price on any observation date before maturity is at or above the initial level, in which case investors receive principal plus any due coupon and no further payments.
If the Notes are not called and the final share price is at or above a downside threshold, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with the share’s decline and investors can lose all of their investment. The estimated initial value per Note on the trade date is expected to be between $9.42 and $9.67. All payments depend on UBS’s credit, and the Notes will not be listed on any exchange.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on January 10, 2028. The Notes pay a contingent coupon only if Dell’s closing share price on an observation date is at or above a coupon barrier set at 70.00% of the initial level; otherwise, no coupon is paid for that period. The Notes can be automatically called early if Dell’s share price is at or above the initial level on any observation date, in which case investors receive the $10 principal per Note plus the due coupon and no further payments.
If the Notes are not called and Dell’s final share price is at or above the downside threshold (also 70.00% of the initial level), investors receive only their principal back at maturity, plus any final coupon if the barrier is met. If the final level is below the downside threshold, repayment is reduced in line with Dell’s negative return, and investors can lose up to 100% of their investment. Any payment depends on UBS’s credit and the estimated initial value is $9.72 per $10 Note, below the issue price.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Alcoa Corporation, with maturity expected on January 10, 2028.
These unsecured debt securities pay a contingent coupon only when Alcoa’s closing stock price on an observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period. The notes can be called early if Alcoa’s stock is at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable coupon and no further payments.
If the notes are not called and the final stock level is at or above a downside threshold, investors receive only principal back at maturity; if it is below that threshold, repayment falls in line with the stock’s loss and investors can lose some or all of their initial investment. Any payment depends on the creditworthiness of UBS, and the estimated initial value per $10 note is between $9.18 and $9.43.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc., maturing on January 8, 2027. These unsecured debt obligations pay a contingent coupon only if Meta’s closing share price on an observation date is at or above a coupon barrier; otherwise, no coupon is paid for that period. The notes are automatically called early if Meta’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 no further payments.
If the notes are not called and Meta’s final share price on the valuation date is at or above the downside threshold, investors receive the full principal at maturity, plus any final contingent coupon if the coupon barrier is met. If the final price is below the downside threshold, repayment is reduced in line with Meta’s percentage decline, and investors can lose all of their principal. Payments depend on UBS’s credit; a default by UBS could result in total loss. The notes are not listed, require a minimum investment of 100 notes at $10 each, and have an estimated initial value of $9.79 per note. A hypothetical example uses a 16.14% per annum contingent coupon rate.
UBS AG plans to issue Trigger Autocallable Contingent Yield Notes linked to the common stock of Valero Energy Corporation, with a scheduled maturity around January 10, 2028. These unsecured debt notes can pay quarterly contingent coupons, but only when Valero’s share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes may be automatically called early if Valero’s share price on an observation date reaches or exceeds the initial level, in which case holders receive principal plus any due coupon and the product terminates. If the notes are not called and Valero’s final share price is at or above the downside threshold, investors receive back their principal at maturity. If the final share price is below the downside threshold, repayment is reduced in line with the share’s percentage loss, and the entire investment can be lost.
The minimum investment is 100 Notes at $10 each, and the estimated initial value on the trade date is expected to be between $9.44 and $9.69 per Note, based on UBS internal models. A hypothetical example uses a 10.80% per annum contingent coupon rate and a downside threshold and coupon barrier set at 70% of the initial share price, illustrating both partial-loss and full-loss scenarios. All payments depend on UBS’s creditworthiness; a default by UBS could result in total loss.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on or about January 10, 2028. These unsecured, unsubordinated debt obligations pay a contingent coupon only if Dell’s share price on each observation date is at or above a coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Dell’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 contingent coupon then due and no further payments. If the notes are not called and Dell’s final share price is at or above a downside threshold, investors receive the full principal at maturity. If the final price is below the downside threshold, repayment is reduced in line with Dell’s decline, and investors can lose all of their initial investment.
Any payment depends on UBS’s credit. The notes will not be listed, require a minimum investment of 100 notes at $10 each, and have an estimated initial value between $9.42 and $9.67.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on January 10, 2028. Each Note has a principal amount of $10, with a minimum investment of 100 Notes (a $1,000 investment).
Investors receive a contingent coupon only if Constellation Energy’s stock closes at or above a preset coupon barrier on each observation date. The Notes are automatically called early if the stock closes at or above the initial level on any observation date before maturity, paying back principal plus the applicable contingent coupon.
If the Notes are not called and the final stock level is at or above the downside threshold, investors receive the $10 principal at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s decline and can fall to zero. All payments depend on UBS’s credit, and the estimated initial value is $9.73 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc., maturing on or about January 8, 2027. These unsecured debt obligations can pay periodic contingent coupons only when Meta’s closing level on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Meta’s closing level on any observation date before final valuation is at or above the initial level, in which case holders receive the principal plus any due coupon and no further payments. If the notes are not called and the final level is at or above the downside threshold, principal is repaid at maturity; if it is below the downside threshold, repayment is reduced in line with Meta’s decline and can fall to zero.
The notes are subject to UBS’s credit risk, will not be listed on any exchange and are sold in minimums of 100 notes at $10 per note. The estimated initial value per $10 note on the trade date is expected to be between $9.43 and $9.68, reflecting UBS’s internal pricing and funding considerations.
UBS AG is offering trigger autocallable contingent yield notes linked to the common stock of Lam Research Corporation. These unsecured, unsubordinated notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid 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 principal plus any due coupon and no further payments.
If the notes are not called and the stock’s final level on January 6, 2028 is at or above a downside threshold, investors receive the $10 principal per note at maturity on or about January 10, 2028. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose some or all of their initial investment. The estimated initial value on the trade date is expected to be between $9.41 and $9.66 per $10 note, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of DexCom, Inc., maturing on January 10, 2028. The Notes pay a contingent coupon only if DexCom’s stock closes at or above a preset coupon barrier on an observation date; otherwise no coupon is paid. The Notes are automatically called early if DexCom’s stock closes at or above the initial level on any observation date before maturity, in which case holders receive the principal plus the applicable coupon and no further payments.
If the Notes are not called and DexCom’s final stock level is at or above the downside threshold, investors receive back the principal at maturity (and the final coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced in line with DexCom’s decline and can fall to zero, resulting in a total loss of principal. The Notes are unsecured obligations of UBS, carry significant market and credit risk, will not be listed on an exchange, and are offered in minimum denominations of 100 Notes at $10 per Note, with an estimated initial value of $9.75 per Note.
UBS AG is offering $5,009,500 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on January 8, 2031. These unsecured notes pay a contingent coupon only if Vistra’s stock closes on each observation date at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes are automatically called early if, on any quarterly observation date after the first year, Vistra’s share price is at or above the initial level. In that case, investors receive the $10 principal per Note plus any due coupon, and the product ends. If the notes are not called and Vistra’s final share level is at or above a downside threshold, investors receive only their $10 principal per Note at maturity, with any final coupon depending on the barrier test.
If the final share level is below the downside threshold, repayment of principal is reduced one-for-one with Vistra’s loss, and investors can lose their entire investment. All payments depend on the creditworthiness of UBS AG, the notes are not insured, will not be listed on an exchange, and the estimated initial value per Note is $9.67 versus the $10 issue price, reflecting fees and UBS’s internal funding rate.
UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., with a trade date of January 6, 2026 and maturity on or about January 8, 2031. These market-linked notes can pay quarterly contingent coupons only when the underlying stock closes at or above a preset coupon barrier on the relevant observation date.
The notes are automatically called if, on any quarterly observation date beginning after 12 months and before final valuation, the Vistra share price is at or above the initial level; in that case investors receive principal plus the applicable contingent coupon and no further payments. If the notes are not called and the final share level is at or above a downside threshold, investors receive only their principal at maturity, with any final contingent coupon depending on the coupon barrier.
If the final level is below the downside threshold, repayment is reduced in proportion to the stock’s decline, and investors can lose all of their initial investment. Any payment depends on the creditworthiness of UBS. The notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, and have an estimated initial value between $9.26 and $9.51 per $10 note. The minimum investment is 100 notes at $10 each.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc., maturing on or about January 10, 2028. These unsecured debt obligations can pay periodic contingent coupons, but only if the stock closes at or above a preset coupon barrier on each observation date. The Notes may be automatically called early if the stock closes at or above its initial level on any observation date before maturity, in which case investors receive principal plus any due coupon and the Notes terminate.
If the Notes are not called and the final stock level is at or above the downside threshold, investors receive their principal back at maturity. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their initial investment. All payments, including any coupons and principal repayment, depend on the creditworthiness of UBS. The Notes are offered in minimums of 100 Notes at $10 per Note, with an estimated initial value between $9.49 and $9.74 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snap Inc., maturing on January 10, 2028. These unsecured debt notes pay contingent coupons only when Snap’s closing stock price on an observation date is at or above a preset coupon barrier, and they can be automatically called early if the stock is at or above the initial level.
If the notes are not called and Snap’s stock on the final valuation date is at or above a downside threshold, investors receive back the principal per note; if it is below that threshold, repayment is reduced in line with the stock’s loss and can fall to zero, meaning a total loss of principal is possible. The notes are issued at $10 per note with a minimum investment of 100 notes, and their estimated initial value is $9.72. All payments depend on UBS’s credit, and the notes will not be listed on any exchange.
UBS AG is offering $20,391,600 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on January 8, 2029. These notes pay a contingent coupon only when Oracle’s closing share price on a quarterly 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 Oracle’s price on any observation date (beginning after 6 months) is at or above the initial level, 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 Oracle’s final level is at or above the downside threshold, investors receive full principal at maturity; if it is below, repayment is reduced in line with the stock’s decline and can fall to zero. The estimated initial value per Note is $9.78, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on or about January 8, 2029. Each Note has a principal amount of $10 and is designed to pay a contingent quarterly coupon only when Oracle’s closing level on an observation date is at or above a specified coupon barrier.
The Notes will be automatically called before maturity if, on any observation date after an initial period, Oracle’s closing level is at or above the initial level. In that case, investors receive the $10 principal plus any contingent coupon due, and no further payments. If the Notes are not called and Oracle’s final level is at or above a downside threshold, investors receive the full $10 per Note at maturity; if it is below the threshold, repayment is reduced in line with Oracle’s decline, and all principal can be lost.
The offering highlights significant risk, including the possibility of receiving no coupons and losing all invested principal. The estimated initial value per Note on the trade date is expected to be between $9.39 and $9.64. A hypothetical example in the document uses a contingent coupon rate of 12.27% per annum with a coupon barrier and downside threshold at 50% of the initial level. All payments depend on the creditworthiness of UBS AG.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snap Inc., maturing on or about January 10, 2028. These are unsecured, unsubordinated debt obligations that pay a contingent coupon only when Snap’s closing share price on an observation date is at or above a preset coupon barrier.
The notes may be automatically called before maturity if Snap’s share price on any observation date (other than the final one) is at or above the initial level. In that case, investors receive the principal plus any due contingent coupon on the call settlement date and no further payments. If the notes are not called and Snap’s final level is at or above the downside threshold, investors receive full principal back at maturity; if it is below, repayment is reduced one-for-one with Snap’s percentage decline and can fall to zero.
The minimum investment is 100 notes at $10 each, and the estimated initial value per $10 note is expected to be between $9.42 and $9.67, based on UBS’ internal models. Any payment depends on UBS’s creditworthiness, the notes are not FDIC insured, and they are not expected to be listed on an exchange.
UBS AG is offering $860,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Russell 2000® Index and the Nasdaq-100® Technology Sector IndexSM, maturing on January 7, 2032.
The Notes pay a contingent coupon at a rate of 9.00% per annum on monthly observation dates only if each index closes at or above its coupon barrier, set at 80.00% of its initial level. Missed coupons can be recovered later under the “memory interest” feature if a future observation meets the barrier.
Beginning after 12 months, the Notes are automatically called if each index is at or above its call threshold level, equal to 100.00% of its initial level, returning principal plus due and unpaid coupons. If not called and, at maturity, each index is at or above its downside threshold of 60.00% of its initial level, investors receive full principal; otherwise, the payoff is reduced one-for-one with the loss on the worst index, and all principal can be lost.
The Notes are unsecured, unsubordinated obligations of UBS, not insured by any government agency, will not be listed on an exchange, and have an estimated initial value of $971.10 per $1,000 issue price.
UBS AG is offering $2,350,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, maturing on January 10, 2029. Investors can receive a 9.70% per annum contingent coupon (about $8.0833 per month per $1,000 Note) only if on each observation date all three indices close at or above their coupon barriers set at 70% of initial levels. UBS may call the notes after six months, repaying principal plus any due coupon, ending all future payments.
If the notes are not called and any index finishes below its downside threshold of 65% of its initial level, the repayment of principal is reduced one-for-one with the worst-performing index, and investors could lose their entire investment. Payments depend on UBS’s credit, and the estimated initial value is $969.10 per $1,000 Note, reflecting fees, hedging costs and UBS’s internal funding rate.
UBS AG is offering trigger callable contingent yield notes linked to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The notes have a principal amount of $1,000 per note, an expected term of about four years, and pay a 10.30% per annum contingent coupon only when all three indexes close at or above 70% of their initial levels on a monthly observation date.
UBS can call the notes in whole beginning after three months; if called, investors receive $1,000 per note plus any due coupon, with no further payments. If the notes are not called and any index finishes below 60% of its initial level at maturity, the repayment is reduced one-for-one with the worst-performing index, and investors can lose all of their principal.
The notes are unsecured obligations of UBS, are not insured deposits, will not be listed on an exchange, and have an estimated initial value between $956 and $986 per $1,000 note, reflecting embedded fees and hedging costs.
UBS AG is offering Capped Buffer Contingent Absolute Return Securities, unsecured debt linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, with a term of about 12 months and a $1,000 principal amount per Security.
If the least performing index ends above its initial level, holders receive $1,000 plus the index gain, capped at a maximum upside gain of 9.00% (maximum payment $1,090). If that index is flat or down but still at or above 80% of its initial level, investors get a “contingent absolute return” equal to the magnitude of the loss, up to 20.00% (maximum payment $1,200). If the least performing index falls below its 80% downside threshold, principal is reduced beyond a 20% buffer, and investors can lose almost all of their investment.
The notes pay no interest, do not offer dividends, will not be listed on an exchange, and may have limited or no secondary market. Any payment depends entirely on the creditworthiness of UBS AG; a default could result in loss of the entire principal. The estimated initial value per Security, based on UBS’ internal models, is expected to be between $961.10 and $991.10, below the $1,000 issue price.
UBS AG is offering trigger callable yield notes linked to the worst performer of the Nasdaq‑100, Russell 2000 and S&P 500 indices. The notes pay a fixed coupon of 7.55% per annum (about $6.2917 per month on $1,000) on each coupon date unless UBS has already called the notes. UBS can redeem the notes in full at its discretion on monthly call dates starting about six months after issuance, paying back principal plus the due coupon.
If the notes are not called and on the final valuation date every index is at or above 70% of its initial level, investors receive full principal at maturity plus the last coupon. If any index finishes below its 70% downside threshold, principal is reduced in line with the percentage loss of the worst‑performing index, and investors can lose all of their investment.
The notes are unsecured, unsubordinated obligations of UBS AG, not bank deposits and not FDIC‑insured, will not be listed on any exchange, and may have limited or no secondary market. The estimated initial value per note is expected between $955 and $985, below the $1,000 issue price due to fees, funding and hedging costs.
UBS AG is offering $600,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on January 10, 2030. The Notes pay a contingent coupon at a rate of 6.60% per annum (about $5.50 per $1,000 Note monthly) only if, on an observation date, each index closes at or above its coupon barrier, set at 65% of its initial level for each index. UBS may call the Notes in whole, beginning after six months, paying back principal plus any due coupon, after which no further payments are made. If the Notes are not called and each index finishes at or above its downside threshold (also 65% of its initial level), investors receive full principal back. If any index finishes below its downside threshold, repayment is reduced in line with the negative return of the worst-performing index, and investors can lose all of their principal. All payments depend on UBS’s creditworthiness.
UBS AG is offering $1,689,000 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 9, 2027.
The Notes pay a 10.60% per annum contingent coupon (about $8.8333 per $1,000 per month) only if on each monthly observation date all three indices are at or above their coupon barriers, set at 70% of their initial levels. UBS may call the Notes in whole on any observation date after three months, returning principal plus any due coupon, ending future payments.
If the Notes are not called and any index finishes below its 70% downside threshold at maturity, investors receive $1,000 times one plus the return of the worst-performing index, which can mean losing some or all principal. Investors do not benefit from index gains beyond coupons, forgo dividends, face limited or no liquidity, and bear full credit and bail-in risk of UBS AG.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to CoreWeave, Inc. common stock, maturing around July 20, 2027. Each $1,000 Note can pay a high contingent coupon at a rate of 37.65% per annum, but only on monthly observation dates when CoreWeave’s share price is at or above a coupon barrier set at 60% of the initial level.
The Notes can be automatically called as early as about three months after issuance if the stock closes at or above a call threshold equal to 100% of the initial level, in which case holders receive principal plus the due coupon and the Notes terminate. If not called, and on the final valuation date the stock is at or above a downside threshold set at 50% of the initial level, 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 of principal is reduced one-for-one with the stock’s percentage loss, and investors can lose all of their investment. The Notes are unsecured debt of UBS, are not insured deposits, will not be listed on an exchange, and their estimated initial value is expected to be between $915.90 and $945.90 per $1,000 issue price, reflecting fees, hedging and UBS’ internal funding rate.
UBS AG is offering $1,403,000 of Trigger Callable Contingent Yield Notes, each with a $1,000 principal amount, linked to the least performing of the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector Index (NDXT) and the Energy Select Sector SPDR Fund (XLE), maturing on January 10, 2029.
The Notes pay a contingent coupon at a rate of 12.15% per annum ($10.125 per month per $1,000) only if, on each monthly observation date, the level of 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 six months, paying back principal plus any due coupon.
If the Notes are not called and, at maturity, every underlying is at or above its downside threshold (50% of initial level), investors receive full principal back; otherwise, repayment is reduced one-for-one with the negative return of the worst-performing underlying, and all principal can be lost. Payments depend entirely on UBS’s credit, and the estimated initial value per Note is $987.40, below the $1,000 issue price.