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

UBS AG is offering trigger callable contingent yield notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on or about October 14, 2027. Each $1,000 note pays a 9.10% per annum contingent coupon (about $7.5833 monthly) only if, on an observation date, all three indices close at or above 70% of their initial levels.

UBS can call the notes in whole on any monthly observation date beginning after three months, paying back principal plus any due coupon, after which no further payments are made. If the notes are not called and, at maturity, any index is below 60% of its initial level, investors receive less than principal based on the worst index’s loss and could lose their entire investment. The notes are unsecured obligations of UBS, not listed on an exchange, with an issue price of $1,000, underwriting discount of $7 and estimated initial value between $961.50 and $991.50.

UBS AG is offering $585,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Chipotle Mexican Grill, Inc., scheduled to mature on June 30, 2027. These unsecured debt obligations pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid.

The notes are automatically called early if Chipotle’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 contingent coupon and no further payments. If the notes are not called and the final stock level is at or above the downside threshold, investors receive the full principal at maturity; if it is below the threshold, repayment is reduced in line with the stock’s decline, up to a total loss of principal. All payments depend on UBS’s credit, and the estimated initial value is $9.80 per $10 note.

UBS AG is offering $250,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, scheduled to mature on December 30, 2027. These unsecured debt notes pay a contingent coupon only if Lam Research’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 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 no further payments. If the notes are not called and the final share price is at or above a downside threshold, investors receive their principal at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline, and investors may lose their entire investment.

The notes are subject to UBS’s credit risk, will not be listed on any exchange, and are offered in minimums of 100 notes at $10 per note. The estimated initial value is $9.78 per $10 note.

UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., maturing on January 2, 2029. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not FDIC insured.

Investors may receive quarterly contingent coupons only if Snowflake’s share price on each observation date is at or above a preset coupon barrier. The notes can be automatically called as early as about six months after issuance if the share price is at or above the initial level, in which case investors receive principal plus any due coupon and the product terminates.

If the notes are not called and Snowflake’s final share price is at or above a downside threshold, investors receive full principal at maturity, plus any final coupon. If the final price is below the downside threshold, repayment is reduced in line with Snowflake’s decline, and investors could lose their entire investment. All payments depend on UBS’s credit, and the estimated initial value is $9.66 per $10 note.

UBS AG is offering $535,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on January 2, 2029. These unsecured, unsubordinated debt obligations pay a contingent coupon only if the stock closes at or above a specified coupon barrier on each quarterly observation date; otherwise, no coupon is paid for that period.

The Notes can be automatically called on any quarterly observation date (beginning after 6 months) if 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 the downside threshold, investors receive their 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 decline, and investors can lose some or all of their initial investment.

The minimum investment is 100 Notes at $10 each. The estimated initial value is $9.72 per $10 Note, based on UBS’s internal pricing models. Payments depend entirely on UBS’s creditworthiness, and the Notes will not be listed on any exchange.

UBS AG is issuing $1,931,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Olin Corporation, maturing on January 4, 2029. Each $1,000 Note offers a contingent coupon at a rate of 13.83% per annum ($34.575 per quarter) if Olin’s stock closes at or above the $10.51 coupon barrier (50% of the $21.02 initial level) on the relevant observation date, with unpaid coupons potentially paid later via a memory feature.

The Notes are automatically called if Olin’s stock is at or above the $21.02 call threshold (100% of the initial level) on any quarterly observation date after six months, returning principal plus due and previously unpaid coupons. If not called and the final stock level is below the $10.51 downside threshold, investors receive $1,000 × (1 + underlying return), exposing them to the full negative stock performance and possible total loss of principal. All payments depend on UBS’s credit, and the estimated initial value is $964.80 per $1,000 Note, below the issue price.

UBS AG is offering $331,000 of Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies common stock, maturing January 2, 2029. These unsecured notes pay a contingent coupon only if Palantir’s share price on a quarterly observation date is at or above a coupon barrier set at 60% of the initial level, with an indicative contingent coupon rate of 20.23% per annum on a $10 principal amount.

The notes can be called early if Palantir’s stock closes at or above the initial level on an 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 Palantir’s final level is at or above the downside threshold (also 60% of the initial level), investors receive back the $10 principal plus any final contingent coupon.

If the notes are not called and the final level is below the downside threshold, repayment is reduced in line with the share price decline, and investors can lose all of their investment. Payments depend on UBS’s credit; the estimated initial value is $9.72 per $10 note, and the notes will not be listed on any exchange.

UBS AG plans to issue Buffer Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on or about January 7, 2027. Each Note has a $1,000 principal amount and offers a contingent coupon at a rate of 14.70% per annum, paid only if on a monthly observation date the closing level of every index is at or above its coupon barrier, set at 90.00% of its initial level.

UBS may call the Notes in whole, but not in part, on any observation date beginning after 3 months, paying principal plus any due coupon; no further payments would be made. If the Notes are not called and, at maturity, each index is at or above its downside threshold (also 90.00% of initial), investors receive full principal. If any index finishes below its downside threshold, repayment is reduced according to the loss of the worst-performing index beyond a 10.00% buffer, and investors could lose almost all of their initial investment.

Payments depend on the creditworthiness of UBS. The estimated initial value per Note is expected between $962.00 and $992.00, below the $1,000 issue price, and the Notes will not be listed, so liquidity may be limited.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on December 30, 2026. These unsecured debt securities may pay periodic contingent coupons, but only if the underlying 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 its initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus any due contingent 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 back the principal; if it is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose their entire investment.

The Notes are offered in minimum denominations of 100 Notes at $10 each, for at least a $1,000 investment. The estimated initial value per Note on the trade date is $9.83, reflecting UBS’s internal pricing. Any payments depend on the performance of the underlying stock and the creditworthiness of UBS.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, maturing on or about January 5, 2029. The notes pay a 10.00% per annum contingent coupon (about $8.3333 per month per $1,000) only if on each monthly observation date all three indices are at or above their coupon barriers, set at 70.00% of their initial levels. UBS can call the notes in whole, beginning after six months, paying back principal plus any due coupon, with no further payments. If the notes are not called and, at final valuation, any index is below its downside threshold (also 70.00% of its initial level), repayment of principal is reduced one-for-one with the worst index’s loss, and all principal can be lost. All payments depend on the creditworthiness of UBS, and the estimated initial value is between $959.50 and $989.50 per $1,000 note.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq‑100, Russell 2000 and S&P 500 indexes, with a term of about 5 years to January 7, 2031. Investors receive a quarterly contingent coupon at a rate of 10.30% per annum (about $25.75 per $1,000 note) only if on each observation date all three indexes are at or above their coupon barriers, set at 70% of their initial levels. UBS may call the notes in whole on any quarterly observation date beginning after six months, paying principal plus any due coupon, after which no further payments are made.

If the notes are not called and on the final valuation date any index closes below its downside threshold (also 70% of its initial level), repayment of principal is reduced one‑for‑one with the negative return of the worst‑performing index, and investors could lose their entire investment. Payments depend on the credit of UBS, and the notes are unsecured, unsubordinated obligations that will not be listed. The issue price is $1,000 per note, with an estimated initial value between $963.50 and $993.50 and an underwriting discount of $4.50 per note.

UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Delta Air Lines, Inc., maturing on December 30, 2026. These notes pay a contingent coupon only when Delta’s share price on an observation date is at or above a preset coupon barrier; if the stock is below that level, no coupon is paid for that period.

The notes can be automatically called before maturity if Delta’s share price on any observation date (other than the final one) is at or above the initial level. In that case, investors receive their $10 principal per note plus the applicable contingent coupon, and the investment ends. If the notes are not called and Delta’s share price on the final valuation date is at or above the downside threshold, investors receive full principal back, plus any final contingent coupon if the coupon barrier is met.

If the notes are not called and Delta’s final share price is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and investors can lose most or all of their investment. Payments depend on UBS’s credit, and the notes are not listed on any exchange. The estimated initial value is $9.78 per $10 note, and the minimum investment is 100 notes.

UBS AG is offering $185,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on December 29, 2028. These unsecured debt 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 share price on any observation date before maturity is at or above the initial level, in which case holders receive the $10 principal per note plus any due contingent coupon, with no further payments. If the notes are not called and Micron’s final share price is at or above the downside threshold, investors receive full principal at maturity; if it is below the downside threshold, repayment is reduced in line with Micron’s decline and can fall to zero.

The notes are subject to the credit risk of UBS, are not insured, will not be listed on an exchange, have a minimum investment of 100 notes ($1,000), and have an estimated initial value of $9.74 per $10 note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on December 30, 2026. These are unsubordinated, unsecured debt obligations of UBS.

Investors receive a contingent coupon only if Broadcom’s closing level on an observation date is at or above a preset coupon barrier. The Notes are automatically called early if Broadcom’s closing level on any observation date before maturity is at or above the initial level, in which case UBS repays principal 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, UBS repays the principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with Broadcom’s decline and can fall to zero, causing a total loss of principal. Any payment depends on UBS’s credit. The minimum investment is 100 Notes at $10 per Note, and the estimated initial value is $9.79 per Note. The Notes will not be listed on an exchange and are significantly riskier than conventional debt.

UBS AG is offering $180,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on January 2, 2029. Each $10 Note can pay a contingent coupon of 11.98% per annum (about $0.2995 per period) only if NVIDIA’s share price on the relevant observation date is at or above the coupon barrier, initially set at 60% of the initial level ($60.00 in the examples).

The Notes are automatically called early if NVIDIA’s share price on any observation date before maturity is at or above the initial level, returning the $10 principal plus any due coupon. If not called, investors receive their $10 principal back at maturity only if the final share price is at or above the downside threshold, also 60% of the initial level. Otherwise, repayment is reduced one-for-one with NVIDIA’s decline, and investors can lose their entire investment. The Notes are unsecured obligations of UBS, with an estimated initial value of $9.71 per $10 Note, and are not listed on any exchange.

UBS AG is offering 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 July 2, 2027. The Notes pay a monthly contingent coupon at an annual rate of 11.45% only if on each observation date all three indices close at or above their coupon barriers, set at 70.00% of their initial levels. UBS may call the Notes in whole on any monthly observation date beginning after three months, returning principal plus any due coupon.

If the Notes are not called and on the final valuation date any index ends below its downside threshold (also 70.00% of its initial level), repayment at maturity is reduced one-for-one with the worst index’s decline, up to a total loss of principal. The minimum denomination is $1,000 per Note. The estimated initial value is between $966.40 and $996.40 per $1,000 issue price. Payments depend on UBS’s credit, and the Notes will not be listed on any exchange.

UBS AG is offering $150,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, maturing on December 29, 2028. The Notes are unsecured, unsubordinated UBS debt and are not listed on any exchange.

Holders receive a contingent coupon only if Fluor’s closing price on an observation date is at or above a coupon barrier set at $50.00, which is 50% of the initial level. The indicative contingent coupon rate is 9.17% per year, or $0.2293 per $10 Note per period in the hypothetical examples. The Notes are automatically called, returning principal plus the applicable coupon, if Fluor’s price on any observation date before maturity is at or above the initial level.

If the Notes are not called and Fluor’s final price is at or above the downside threshold of $50.00, UBS repays the $10 principal per Note at maturity (plus any final coupon if the barrier is met). If the final price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose their entire investment. Any payment depends on UBS’s credit, and the estimated initial value is $9.66 per $10 Note.

UBS AG is offering $350,000 of Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Pinduoduo Inc., maturing on December 30, 2026. These unsecured debt securities pay a contingent coupon only if the ADR’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 may be automatically called early if the ADR 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 the notes terminate.

If the notes are not called and the final ADR level on the December 28, 2026 valuation date is at or above the downside threshold, investors receive back the $10 principal per note, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with the ADR’s decline, and investors can lose some or all of their investment. The estimated initial value is $9.75 per $10 note, the notes are not listed on any exchange, and all payments depend on the creditworthiness of UBS.

UBS AG is offering $9,812,900 of Capped GEARS, unsecured notes linked to the Russell 2000® Index and maturing on March 2, 2027. Each Security has a $10 principal amount with 3.00x upside gearing, but returns are capped at a maximum gain of 19.00%, for a maximum payment at maturity of $11.90 per Security.

If the index return is positive, investors receive $10 plus the lesser of the index gain × 3.00 or 19.00%. If the index return is zero, investors receive only the $10 principal. If the index return is negative, investors lose one-for-one with the index, up to a total loss of principal.

The notes pay no interest, forgo dividends on the underlying stocks, and expose holders to UBS credit risk and small-cap equity market volatility. The estimated initial value is $9.78 per Security, below the $10 issue price, reflecting underwriting discounts, hedging and issuance costs.

UBS AG is offering $2.5 million of Trigger Autocallable Contingent Yield Notes linked to the SPDR® S&P® Regional Banking ETF (KRE), maturing January 3, 2028. Each $1,000 note pays a monthly contingent coupon at an annual rate of 8.55% (or $7.125 per month) only if KRE’s closing level is at or above the coupon barrier of $49.46, which is 75% of the initial level of $65.94.

The notes can be automatically called after three months if KRE is at or above the call threshold of $65.94 on any monthly observation date. In that case, investors receive principal plus the applicable coupon and the product terminates early.

If the notes are not called and KRE is at or above the $49.46 downside threshold at maturity, investors receive full principal back, plus the final coupon if the barrier is met. If KRE finishes below the downside threshold, repayment is reduced one-for-one with the ETF’s decline, and investors can lose their entire investment. The notes are unsecured obligations of UBS, have an estimated initial value of $972.70 per $1,000, and will not be listed, so liquidity may be limited.

UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc., maturing on December 30, 2026. These unsecured debt notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid.

The notes 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 the $10 principal per note plus the applicable contingent coupon, with no further payments. If the notes are not called and the final stock level is at or above a downside threshold, investors receive principal back at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and losses can reach 100% of principal.

The notes are subject to UBS credit risk, will not be listed on any exchange, require a minimum purchase of 100 notes at $10 each, and have an estimated initial value of $9.80 per note based on UBS internal models.

UBS AG is offering $7,036,000 of Trigger Autocallable Notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing January 4, 2030. Each $1,000 note can be automatically called quarterly after 12 months if both indices are at or above their call thresholds set at 100% of initial levels. If called, investors receive principal plus a call return based on a 9.36% per annum rate, with call prices rising the longer the notes remain outstanding.

If the notes are never called and, on the final valuation date, both indices are at or above 70% of their initial levels, investors receive back only their principal with no additional return. If at least one index finishes below its 70% downside threshold, repayment is reduced in line with the loss of the weakest index, and all principal can be lost in severe declines. The notes pay no interest or dividends, have limited liquidity, and all payments depend on UBS’s credit; the estimated initial value per note is $965.40 versus the $1,000 issue price.

UBS AG is issuing $1,560,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Best Buy Co., Inc. common stock, maturing on January 4, 2029. Each $1,000 Note offers a contingent coupon at a rate of 10.66% per annum, paid quarterly when Best Buy’s share price is at or above the coupon barrier of $37.31, which is 55.00% of the $67.84 initial level. The Notes may be automatically called after six months if the stock closes at or above the call threshold of $67.84 on an observation date, returning principal plus due and previously unpaid coupons. If the Notes are not called and Best Buy’s final level is below the downside threshold of $37.31, investors incur a loss matching the stock’s decline and could lose their entire investment. Payments depend entirely on UBS’ credit and the Notes will not be listed on an exchange; the estimated initial value is $968.00 per $1,000 Note.

UBS AG is offering $357,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on December 29, 2027. These unsecured debt securities pay a contingent coupon only if Micron’s closing share price on an observation date, including the final valuation date, is at or above a specified coupon barrier.

The notes are automatically called early if Micron’s share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and Micron’s final share price is at or above the downside threshold, investors receive their principal at maturity; if it is below the downside threshold, repayment is reduced in line with Micron’s decline and can fall to zero.

Any payment depends on the creditworthiness of UBS, and the notes are not insured or exchange-listed. The minimum investment is 100 notes at $10 each, and the estimated initial value per note on the trade date is $9.81, reflecting UBS’ internal pricing and funding considerations.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NIKE, Inc., maturing on December 30, 2027. These unsecured debt notes pay a contingent coupon only if NIKE’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period. The notes can be automatically called early if NIKE’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 product terminates.

If the notes are not called and NIKE’s final share price on the December 28, 2027 valuation date is at or above a downside threshold, investors receive full principal back (plus any 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 NIKE’s negative return and investors can lose all of their initial investment. An example structure uses a $10 principal amount per note, a 14.58% per annum contingent coupon and an estimated initial value of $9.76 per note. All payments depend on UBS’s credit and the notes are not listed on any exchange.

UBS AG is offering $350,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock, maturing December 30, 2027. These unsecured notes pay a contingent coupon only when Micron’s closing share price on an observation date is at or above a coupon barrier set at 50% of the initial share level, with an illustrative contingent coupon rate of 19.98% per annum ($0.4995 per $10 note per period).

The notes can be automatically called before maturity if Micron’s stock closes 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 Micron’s final share level is at or above the downside threshold (also 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 Micron’s final share level is below the downside threshold, repayment is reduced dollar-for-dollar with the stock’s percentage decline, using $10 × (1 + underlying return); investors can lose all of their investment. All payments, including any return of principal, depend on UBS’s credit, and the notes will not be listed on an exchange. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.81 per note.

UBS AG is offering $823,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on December 30, 2027. These unsecured debt obligations pay a contingent coupon only when AMD’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 AMD’s 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 AMD’s final share price on the December 28, 2027 valuation date is at or above the downside threshold, investors receive their full principal at maturity, potentially with a final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with AMD’s percentage decline, and investors can lose some or all of their initial investment. All payments depend on UBS’s credit, and the notes will not be listed on any exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Block, Inc., maturing on December 29, 2027. These unsecured debt securities pay a contingent coupon only if Block’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, on any observation date before maturity, Block’s share price is at or above the initial level, in which case investors receive the principal plus any due contingent coupon and no further payments. If not called and the final share price is at or above the downside threshold, principal is repaid at maturity. If the final share price is below the downside threshold, repayment is reduced one-for-one with Block’s percentage decline, and investors can lose all of their investment.

The notes are issued at $10 per note, with a minimum investment of 100 notes, and have an estimated initial value of $9.71 per note. They are not listed on any exchange, and all payments depend on the creditworthiness of UBS.

UBS AG is offering unsecured Trigger Callable Contingent Yield Notes linked to the worst performer of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, maturing around January 10, 2029. The Notes pay a contingent coupon at a 9.70% per annum rate only if, on each monthly observation date, every index 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, after which no further payments are made.

If the Notes are not called and any index finishes below its downside threshold of 65% of its initial level, investors receive $1,000 times one plus the return of the worst-performing index, which can mean substantial loss of principal, up to a total loss. The estimated initial value is expected between $961.00 and $991.00 per $1,000 Note, reflecting fees and UBS’s internal funding rate. All payments depend on UBS’s credit; a UBS default could result in losing the entire investment.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the worst performer among the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector IndexSM (NDXT) and the Energy Select Sector SPDR Fund (XLE), with a term of about three years.

The Notes pay a contingent coupon at a rate of 12.15% per annum, but only for months when the closing level of each underlying is at or above 70% of its initial level. UBS can call the Notes in whole, starting after six months, paying back principal plus any due coupon, after which no further payments are made.

If the Notes are not called and, at maturity, every underlying is at or above 50% of its initial level, investors receive only their principal (plus any final contingent coupon if all are also above the 70% barriers). If any underlying finishes below 50%, repayment is reduced one-for-one with the decline of the worst performer, and all principal can be lost. All payments depend on UBS’s ability to meet its obligations.

UBS AG is offering unsecured Trigger Callable Contingent Yield Notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing around January 11, 2028. Each $1,000 Note pays an 8.35% per annum contingent coupon only if, on a monthly observation date, both indices close at or above 70% of their initial levels; otherwise no coupon is paid for that month.

UBS can call the Notes in whole, beginning after three months, paying back principal plus any due coupon, after which no further payments are made. If the Notes are not called and, at final valuation, both indices are at or above 60% of their initial levels, principal is repaid in full. If any index finishes below its 60% downside threshold, investors’ principal is reduced one-for-one with the negative return of the worst index, up to a complete loss. Payments depend entirely on UBS’s credit, and the estimated initial value per Note is between $961.30 and $991.30.

UBS AG, acting through its London Branch, offers exchange traded notes that track the NASDAQ Silver FLOWSTM 106 Index, a covered call strategy on iShares Silver Trust shares. These senior unsecured ETNs, now named ETRACS Silver Shares Covered Call ETNs due April 21, 2033, have a stated principal amount of $400 per note and a current issuance of 2,000,000 ETNs under this supplement.

The notes pay a variable monthly coupon funded by notional call option premiums, but there is no principal protection; investors can lose their entire investment if the Index falls or fees erode value. Returns are reduced by a 0.65% annual investor fee and Index transaction costs expected to be about 0.84% per year. UBS may redeem or accelerate the ETNs, and holders may request early redemption above a size threshold. The ETNs trade on NASDAQ under ticker SLVO, and their market price can differ significantly from indicative value.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on or about December 31, 2027. These unsecured debt securities pay a contingent coupon only if Broadcom’s closing level on each observation date, including the final valuation date, is at or above a specified coupon barrier; otherwise no coupon is paid for that period.

The Notes are automatically called early if Broadcom’s closing level on any observation date before maturity is at or above the initial level, in which case holders receive the principal plus any due contingent coupon and no further payments. If not called and Broadcom’s final level is at or above the downside threshold, investors receive full principal at maturity; if the final level is below the downside threshold, repayment is reduced in line with the stock’s negative return, and all principal can be lost. All payments depend on the creditworthiness of UBS. The estimated initial value is expected to be between $9.43 and $9.68 per $10 Note, and the minimum investment is 100 Notes at $10 each.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about December 31, 2027. These unsecured debt obligations pay a contingent coupon only if NVIDIA’s closing share price on an observation date is at or above a preset coupon barrier. If that condition is not met, no coupon is paid for that period.

The Notes are automatically called before maturity if NVIDIA’s stock closes at or above the initial level on any observation date prior to the final valuation date, in which case investors receive the principal plus any due contingent coupon and no further payments. If the Notes are not called and NVIDIA’s final share price is at or above a downside threshold, investors receive their 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. Payments depend on UBS’s credit, and the estimated initial value per $10 Note on the trade date is expected to be between $9.44 and $9.69, with a minimum investment of 100 Notes at $10 each.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Deckers Outdoor Corporation, maturing on or about June 30, 2027. These unsecured debt notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid.

The notes can be called early if the stock closes at or above the initial level on specified quarterly observation dates, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and the final stock level is at or above a downside threshold, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and all principal can be lost.

The notes are issued in $10 denominations, with a minimum investment of 100 notes. The estimated initial value per note on the trade date is expected to be between $9.37 and $9.62, and all payments depend on the creditworthiness of UBS. The notes will not be listed on any exchange.

UBS AG is offering $1,410,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on June 30, 2027. These unsecured debt notes may pay contingent coupons only when Amazon’s closing level on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid.

The notes can be called early if Amazon’s level on an observation date (before the final valuation date) is at or above the initial level, returning the $10 principal per Note plus any due coupon, with no further payments. If the notes are not called and Amazon’s final level is at or above a downside threshold, investors receive their principal at maturity; if it is below that threshold, repayment is reduced in line with Amazon’s decline and can fall to zero, causing a total loss. Any payments depend on UBS’s credit, and the estimated initial value is $9.83 per $10 Note.

UBS AG is offering $810,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Halliburton Company, maturing on June 30, 2027. These unsecured debt notes pay a contingent coupon only if Halliburton’s 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 Halliburton’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus the applicable 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 principal back at maturity, with a final coupon if the barrier is met. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose all of their investment.

Any payment depends on the creditworthiness of UBS. The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.82 per Note, reflecting UBS’ internal pricing models and funding rate.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the iShares Silver Trust, maturing on or about December 31, 2026. These unsecured debt notes can pay periodic 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 early if the ETF’s level on any observation date before final valuation is at or above the initial level, returning the $10 principal per note plus any due coupon, with no further payments. If not called and the final level is at or above the downside threshold, investors receive only their principal back; if it is below the threshold, repayment is reduced in line with the ETF’s decline, and the entire investment can be lost.

The product includes credit risk of UBS, will not be listed on an exchange, and has an expected minimum purchase of 100 notes at $10 each. A hypothetical example uses an 8.52% annual contingent coupon rate and a downside threshold and coupon barrier set at 60% of the initial level. The estimated initial value per note on the trade date is expected to be between $9.55 and $9.80.

UBS AG is offering $260,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on June 30, 2027. These unsecured debt securities pay a contingent coupon only when Oracle’s closing stock price on a semi-annual observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.

The notes can be automatically called after 12 months if Oracle’s share price on an observation date 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 not called, and Oracle’s final stock level on June 28, 2027 is at or above the downside threshold, investors receive full principal back; if it is below the downside threshold, repayment is reduced in line with Oracle’s percentage decline, up to a total loss of principal. The minimum investment is 100 Notes ($1,000), and the estimated initial value per Note is $9.84, with all payments subject to UBS’s credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing in 2027. These unsecured debt notes can pay contingent coupons only when Oracle’s closing share price on a given observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period. The notes may be automatically called semi-annually if Oracle’s price is at or above the initial level, in which case investors receive principal plus any due coupon and the product terminates early.

If the notes are not called and Oracle’s final share price on the valuation date is at or above a downside threshold, investors receive full principal back, potentially with a final coupon. If the final price is below the downside threshold, repayment is reduced in line with Oracle’s negative return, and investors can lose all of their investment. Any payment depends on UBS’s credit, and the estimated initial value per $10 note is expected to be between $9.48 and $9.73.

UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc., maturing on December 31, 2027. These notes can pay a contingent coupon on each observation date only if the lululemon share price is at or above a preset coupon barrier, illustrated by a hypothetical 23.83% per annum rate and a $0.5958 coupon on a $10 note.

The notes may be automatically called quarterly, beginning after 6 months, if the share price is at or above the initial level, in which case investors receive principal plus any due coupon and the product terminates early. If not called, and at maturity the share price is at or above the downside threshold, set at 85.00% of the initial level in the examples, investors receive principal back (plus any final coupon). If the final level is below the downside threshold, repayment is reduced in line with the negative underlying return, and investors could lose their entire investment.

The estimated initial value is $9.71 per $10 note, and the minimum investment is 100 notes at $10 each. All payments depend on the creditworthiness of UBS AG, and the notes will not be listed on any exchange.

UBS AG is offering $180,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., maturing on January 2, 2029. These are unsecured, unsubordinated debt obligations of UBS.

Investors receive a contingent coupon on each coupon payment date only if Palantir’s closing share price on the related observation date is at or above a preset coupon barrier. The notes are subject to an automatic call on quarterly observation dates (beginning after 6 months) if the share price is at or above the initial level; in that case, UBS repays the $10 principal per Note plus any due coupon and the investment ends early.

If the notes are not called and Palantir’s final share price on the valuation date is at or above a downside threshold, investors receive back principal at maturity. If it is below that threshold, repayment is reduced in line with the share’s decline, and investors can lose some or all of their investment. Any payment depends on UBS’s credit, and the notes will not be listed for trading. The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.69 per Note.

UBS AG is offering $250,000 of unsecured Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of JD.com, Inc., maturing on December 31, 2026. The Notes pay a contingent coupon only if JD.com’s ADR closes at or above a coupon barrier on each observation date; otherwise no coupon is paid.

The Notes are automatically called early if JD.com’s ADR closes at or above the initial level on any observation date before maturity, returning the $10 principal per Note plus any due coupon, with no further payments. If not called, investors receive full principal at maturity only if the final level is at or above the downside threshold; below that level, repayment is reduced in line with JD.com’s decline and can fall to zero.

The minimum investment is 100 Notes ($1,000). The estimated initial value is $9.72 per $10 Note. Payments depend entirely on UBS’s credit, the Notes are not FDIC-insured, and they will not be listed on any exchange, which may limit liquidity.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., maturing on or about January 2, 2029. Each Note has a principal amount of $10, with a minimum investment of 100 Notes (a $1,000 investment).

The Notes pay a contingent coupon only if Palantir’s share price on a quarterly observation date is at or above a preset coupon barrier. The Notes are automatically called early if the share price on an observation date is at or above the initial level, in which case holders receive principal plus any due coupon and no further payments. If the Notes are not called and the final share price is below the downside threshold, investors receive less than principal, matching the stock’s percentage decline, and could lose their entire investment. The estimated initial value is expected to be between $9.36 and $9.61 per $10 Note, and all payments depend on the creditworthiness of UBS. The Notes will not be listed on any securities exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of JD.com, Inc., maturing on or about December 31, 2026. Each Note has a principal amount of $10, with a minimum investment of 100 Notes, and can pay periodic contingent coupons only when the underlying ADR closes at or above a preset coupon barrier on the relevant observation dates.

The Notes are automatically called early if the ADR’s closing level on an observation date (before the final valuation date) is at or above the initial level, in which case investors receive the principal plus any due contingent coupon and no further payments. If the Notes are not called and the final level is at or above the downside threshold, investors receive only the principal at maturity; if it is below the downside threshold, repayment is reduced in line with the ADR’s decline and can fall to zero. All payments depend on the creditworthiness of UBS, and the Notes are unsecured, not bank deposits, not FDIC-insured and will not be listed on any exchange.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., scheduled to mature on or about December 31, 2027. The notes pay a contingent coupon on each observation date only if Micron’s share price is at or above a preset coupon barrier; otherwise, no coupon is paid for that period. If Micron’s share price reaches or exceeds the initial level on any observation date before maturity, the notes are automatically called and investors receive their principal back plus any due coupon, with no further payments.

If the notes are not called and Micron’s final share price is at or above a downside threshold on the final valuation date, investors receive full principal at maturity (plus any final coupon if the barrier is met). If the final price is below the downside threshold, repayment is reduced in line with Micron’s decline, and investors can lose all of their investment. The notes are unsecured obligations of UBS, are not listed on an exchange, have a minimum investment of 100 notes at $10 per note, and have an estimated initial value between $9.44 and $9.69 per $10 note.

UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., maturing on December 31, 2027. These unsecured debt notes pay a contingent coupon only when Palantir’s closing share price on an observation date is at or above a coupon barrier; otherwise no coupon is paid.

UBS will automatically call the Notes early if Palantir’s share price on any observation date before maturity is at or above the initial level, returning principal plus any due coupon, after which no further payments are made. If the Notes are not called and the final share price on the valuation date 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 share’s decline and can fall to zero.

The Notes have a minimum investment of 100 Notes at $10 each and an illustrative contingent coupon rate of 22.13% per year (about $0.5533 per $10 Note per period in the examples). The estimated initial value is $9.79 per Note, and all payments depend on the creditworthiness of UBS.

UBS AG is offering $670,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on January 2, 2029. These unsecured debt notes may pay contingent coupons only if Amazon’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.

The notes are automatically called early if Amazon’s share price on any observation date before maturity is at or above the initial level, in which case holders receive the principal plus any due contingent coupon and the product terminates. If the notes are not called and, on the final valuation date, Amazon’s share price is at or above the downside threshold, investors receive only their principal back (plus any final contingent coupon if the coupon barrier is met). If Amazon’s final level is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose some or all of their investment.

The notes are subject to UBS’s credit risk; if UBS defaults, investors may recover nothing. The minimum investment is 100 notes at $10 per note, and the estimated initial value per note on the trade date is $9.75.

UBS AG is offering $422,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on January 2, 2029. These unsecured debt notes pay a contingent coupon only if AMD’s share price on each monthly observation date is at or above a preset coupon barrier; otherwise no coupon is paid.

The notes can be automatically called after six months if AMD’s share price is at or above the initial level on any observation date, returning principal plus the due coupon and ending further payments. If not called, investors receive full principal at maturity only if the final share price is at or above a downside threshold. If the final price is below this threshold, repayment is reduced in line with AMD’s percentage decline, and investors can lose all of their investment.

The minimum investment is 100 notes at $10 each. The estimated initial value is $9.74 per note, reflecting UBS’s internal pricing. All payments depend on the creditworthiness of UBS, and the notes will not be listed on an exchange.