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 Charter Communications, Inc., maturing on December 27, 2027. Each Note has a $10 principal amount and may pay quarterly contingent coupons only when Charter’s stock closes at or above a preset coupon barrier on the relevant observation date.
The Notes are automatically called early if, on any quarterly observation date after 12 months, the stock’s closing level is at or above the initial level. In that case, holders receive $10 per Note plus the applicable contingent coupon on the call settlement date and no further payments.
If the Notes are not called and the final stock level on December 22, 2027 is at or above the downside threshold, UBS repays the $10 principal per Note (and any final contingent coupon if the coupon barrier is also met). If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline and can fall to zero, meaning a total loss of principal. All payments depend on UBS’s credit; an estimated initial value of $9.72 per $10 Note reflects internal pricing and funding costs.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Charter Communications, Inc. and maturing on or about December 27, 2027. These unsecured debt notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each quarterly observation date; otherwise no coupon is paid for that period.
The notes can be called early if the stock closes at or above the initial level on any observation date (after 12 months). In that case, investors receive the principal plus the applicable contingent coupon on the call settlement date 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 the full principal (and a final coupon if the barrier is met). If the stock finishes below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose their entire investment. All payments depend on the creditworthiness of UBS. The estimated initial value is expected between $9.37 and $9.62 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on December 27, 2027. These unsecured debt notes can pay periodic contingent coupons, but only when 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 stock is 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 Micron’s final share level is at or above the downside threshold, principal is repaid at maturity. If the final level is below the downside threshold, repayment is reduced in line with Micron’s percentage decline, and all principal can be lost.
The notes are not listed on any exchange, are subject to UBS’s credit risk, and the estimated initial value is $9.79 per $10 issue price, reflecting UBS’s internal funding and pricing. The minimum investment is 100 notes at $10 each.
UBS AG is offering $960,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on December 26, 2028. The Notes pay a contingent coupon only on dates when NVIDIA’s closing share price is at or above a preset coupon barrier; if it is below the barrier on an observation date, no coupon is paid for that period.
The Notes can be called early each quarter after an initial period if NVIDIA’s share price is at or above the initial level, in which case investors receive principal plus the applicable coupon and the Notes terminate. If the Notes are not called and NVIDIA’s final level is at or above the downside threshold, principal is repaid at maturity; if the final level is below the threshold, repayment is reduced in line with NVIDIA’s decline and can fall to zero. Any payment depends on the creditworthiness of UBS, and the estimated initial value per $10 Note is $9.76.
UBS AG is offering $111,000 of Trigger Autocallable Contingent Yield Notes linked to lululemon athletica inc. stock, maturing December 24, 2026. These unsecured debt securities pay contingent coupons only when lululemon’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 called early if the stock closes at or above the initial level on any observation date before maturity, in which case investors receive their principal back plus any due coupon, and the notes terminate. If the notes are not called and lululemon’s share price on the final valuation date is at or above a downside threshold, investors receive full principal at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s decline and all principal can be lost. The notes are issued at $10 per Note (minimum 100 Notes) with an estimated initial value of $9.82 and are subject to UBS’s credit risk. They will not be listed on any securities exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on or about December 26, 2028. These unsecured debt notes can pay quarterly contingent coupons only when Oracle’s closing share price on an observation date is at or above a preset coupon barrier; if it is below, no coupon is paid for that period.
The notes may be automatically called early if Oracle’s price on an observation date reaches or exceeds 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 Oracle’s final level at maturity is at or above a downside threshold, investors receive back their principal. If the final level is below the downside threshold, repayment is reduced one-for-one with Oracle’s decline, and investors can lose all of their investment. All payments depend on UBS’s ability to meet its obligations, and the notes will not be listed on any exchange. The estimated initial value is expected to be between $9.37 and $9.62 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc., maturing on or about December 24, 2026. These unsecured debt obligations pay a contingent coupon only if lululemon’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 lululemon’s share price on any observation date before the final valuation date is at or above the initial level. In that case, investors receive the principal plus the applicable contingent coupon on the call settlement date and no further payments. If the notes are not called and lululemon’s final level is at or above the downside threshold, investors receive the full principal at maturity; if it is below the downside threshold, repayment is reduced in line with the share price 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 is expected to be between $9.52 and $9.77 per $10 note, based on UBS’ internal models. The notes will not be listed, may be difficult to sell, and all payments depend on the creditworthiness of UBS.
UBS AG is issuing $1,000,000 in Trigger In-Digital Securities linked to the S&P 500 Index, maturing on January 22, 2027. Each note has a $1,000 principal amount and offers a fixed digital return of 7.85% if, on the final valuation date, the S&P 500 closing level is at or above the digital barrier, set at 5,081.07, which is 75% of the initial level of 6,774.76.
If the final index level is below this downside threshold, investors receive $1,000 × (1 + underlying return), taking the full loss of the index decline and potentially losing all principal. The notes pay no interest, are unsecured unsubordinated UBS debt and are not listed on any exchange, so liquidity may be limited. The estimated initial value is $993.50 per note; the issue price is $1,000, including a $2.20 underwriting discount and $997.80 in proceeds to UBS per note.
UBS AG is issuing $2,200,000 of Trigger Callable Contingent Yield Notes linked to the worst performer among the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the VanEck Semiconductor ETF, maturing in June 2030. The notes pay a contingent coupon at a rate of 15.35% per annum only if, on a monthly observation date, each underlying is at or above its coupon barrier, set at 75% of its initial level. UBS can call the notes in whole on any observation date (other than the final one); if called, investors receive principal plus any due coupon and no further payments.
If the notes are not called and every underlying finishes at or above its downside threshold, set at 60% of its initial level, investors receive full principal at maturity, plus any final contingent coupon if the coupon barriers are also met. If any underlying ends below its downside threshold, the maturity payment is reduced 1-for-1 with the negative return of the worst-performing underlying, and investors can lose up to 100% of principal. Payments depend entirely on UBS’s credit; a default by UBS could result in a total loss regardless of underlying performance. The notes will not be listed, and secondary market liquidity may be limited.
UBS AG is issuing $373,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, maturing December 21, 2028.
The Notes pay a contingent coupon at an annual rate of 8.85% (about $7.375 per $1,000 per month) only if, on each monthly observation date, every index closes at or above 75% of its initial level. UBS may call the Notes in whole on any observation date 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, at maturity, all three indices are at or above 60% of their initial levels, investors receive only the $1,000 principal per Note (plus any final coupon if the 75% barrier is met). If any index finishes below its 60% downside threshold, repayment is reduced in line with the worst index’s loss, up to a total loss of principal. Payments depend on UBS’s credit; the estimated initial value is $987.80 per $1,000.
UBS AG, through its London Branch, is offering $1,085,000 of Step Down Trigger Autocallable Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing on December 24, 2030. The notes can be automatically called quarterly after 12 months if both indices are at or above declining call threshold levels, paying $1,000 plus a call return based on a 9.00% per annum rate, up to a 45.00% total return at maturity. If the notes are not called and at least one index finishes below its downside threshold of 75.00% of its initial level, investors receive $1,000 times the index return of the worst performer and can lose some or all principal. The notes pay no interest, do not provide dividends, are not listed, and all payments depend on UBS’s credit, with an estimated initial value of $990.00 per $1,000 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing around January 3, 2031. The Notes pay a contingent coupon at a rate of 18.50% per annum (about $15.4167 per $1,000 Note per month) only when the index closes at or above a coupon barrier set at 70% of the initial level on the relevant monthly observation date.
The Notes can be called early any month beginning after six months if the index is at or above a call threshold equal to 100% of the initial level, in which case investors receive the $1,000 principal plus that period’s coupon and no further payments. If not called and the final index level is at or above a downside threshold equal to 50% of the initial level, investors receive their $1,000 principal at maturity; below that level, repayment is reduced dollar‑for‑dollar with the index loss, potentially to zero. The underlying index uses leverage up to 500%, a 40% volatility target and a 6.0% per annum daily decrement, and the Notes are unsecured obligations of UBS with no listing and an estimated initial value between $928.60 and $958.60 per $1,000 face amount.
UBS AG is offering trigger autocallable contingent yield notes linked separately to Amazon.com and TPG common stock, in aggregate principal amounts of $37,859,500 and $1,405,000 due December 22, 2028. Investors receive quarterly contingent coupons only when the stock closes at or above preset coupon barriers, with annual rates of 10.00% for Amazon notes and 9.00% for TPG notes. The notes may be automatically called after six months if the stock is at or above the initial level, returning principal plus the due coupon.
If the notes are not called and the final stock level is at or above the downside threshold (63.25% of the initial level for Amazon and 49.85% for TPG), investors receive full principal back; below these thresholds, repayment is reduced one-for-one with the stock’s decline and can fall to zero. The notes do not pay dividends or participate in stock gains, are not listed on any exchange, and any payment depends on UBS’s credit. The estimated initial value per $10 note is $9.687 for Amazon and $9.567 for TPG, reflecting fees and UBS’s internal funding rate.
UBS AG is offering $1,416,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 indexes, maturing on June 24, 2027. Each $1,000 Note pays a 10.15% per annum contingent coupon only if all three indexes are at or above their coupon barriers, set at 70% of initial levels, on monthly observation dates. UBS can call the Notes in whole, beginning after three months, paying principal plus any due coupon and ending further payments.
If the Notes are not called and any index finishes below its downside threshold (also 70% of initial level), repayment is reduced in line with the worst index’s loss and can fall to zero, so investors may lose all principal. The Notes are unsecured obligations of UBS, not listed on any exchange, and have an estimated initial value of $976.20 per $1,000, reflecting fees and hedging costs.
UBS AG is issuing $1,187,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing December 22, 2028. The notes pay a 10.10% per annum contingent coupon (about $8.4167 per $1,000 monthly) only when both indices are at or above 70% of their initial levels on each observation date. 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 either index finishes below its 70% downside threshold, investors receive $1,000 times the return of the worst-performing index and can lose some or all principal. All payments depend on UBS’s ability to meet its obligations, and the estimated initial value is $979.40 per $1,000 note, below the issue price.
UBS AG is offering approximately $991,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Jabil Inc. (JBL), maturing June 24, 2027. Each Note has a $1,000 principal amount and pays a contingent coupon at a rate of 14.08% per annum (about $35.20 per quarter) if Jabil’s share price on an observation date is at or above the coupon barrier of $169.97, which is 75% of the initial level.
The Notes are automatically called early if Jabil’s stock closes at or above the call threshold of $226.62 (100% of the initial level) on any quarterly observation date, returning principal plus due and unpaid coupons. If the Notes are not called and Jabil’s final share price is below the downside threshold of $169.97, investors receive less than principal, with losses matching the share price decline, and could lose their entire investment.
Payments depend entirely on UBS’s creditworthiness, the Notes are unsecured and unsubordinated, not listed on an exchange, and the estimated initial value of $964.10 per $1,000 Note is below the issue price due to fees, hedging costs and UBS’s internal funding rate.
UBS AG is offering $574,000 of Trigger Callable Contingent Yield Notes, each with a $1,000 principal amount, maturing on December 22, 2028. The Notes pay a monthly contingent coupon at a rate of 11.35% per annum only if, on each observation date, all three underlying assets—the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector IndexSM (NDXT) and the Russell 2000 Index (RTY)—close at or above their coupon barriers, set at 70% of their initial levels. 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, on the final valuation date, every underlying is at or above its downside threshold (set at 60% of initial levels), investors receive full principal back, plus any final contingent coupon if all are also above the coupon barriers. If any underlying finishes below its downside threshold, repayment is reduced by that asset’s percentage decline, and investors can lose up to 100% of principal. All payments depend on UBS’s credit, and the Notes are not listed, may have limited liquidity, and do not pay dividends on the underlying ETF or index constituents.
UBS AG is offering $500,000 of Trigger In-Digital Securities linked to the nearby NYMEX Light Sweet Crude Oil (WTI) futures contract, maturing on January 22, 2027. Each $1,000 Security pays no interest and offers a fixed 10.60% digital return at maturity if the final WTI futures settlement price is at or above the digital barrier/downside threshold of $39.31, which is 70.00% of the initial price of $56.15 observed on the strike date.
If the final price is below $39.31, the maturity payment falls in line with the futures performance and investors lose the same percentage as the underlying, down to a minimum of $0.00, meaning a total loss is possible. The Securities are unsecured, unsubordinated obligations of UBS AG, with an estimated initial value of $993.20 per $1,000, and are subject to UBS’ credit risk and limited or no secondary market liquidity.
UBS AG is offering $813,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index, maturing on December 24, 2030. Investors receive an 11.05% per annum contingent coupon (about $9.2083 per $1,000 note monthly) only when each index closes at or above its coupon barrier, set at 75% of its initial level. UBS may call the notes quarterly after six months, returning principal plus any due coupon, ending all future payments.
If the notes are not called and each index finishes at or above its downside threshold (60% of initial level), investors receive full principal at maturity; if any index finishes below its threshold, repayment is reduced in line with the worst index’s loss and can fall to zero. The notes are unsecured obligations of UBS, not insured deposits, will not be listed, and may have limited liquidity. The estimated initial value is $967.60 per $1,000 note, below the issue price due to fees, hedging and UBS’ internal funding rate.
UBS AG is offering $2,536,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of three major equity indices. The notes pay a quarterly contingent coupon at a rate of 10.65% per annum only if, on each observation date, the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index are all at or above their respective coupon barriers set at 70% of initial levels.
UBS can redeem the notes in full on any quarterly observation date starting after six months, returning principal plus any due coupon. If the notes are not called and, at maturity in December 2030, any index is below its downside threshold at 60% of its initial level, investors lose principal in line with the percentage decline of the worst-performing index, up to a total loss. Payments depend entirely on UBS’s credit, and the estimated initial value of each $1,000 note is $971.90, below the issue price.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index. Each Note has a $1,000 principal amount, an expected term of about 4.5 years and pays a contingent coupon at 9.35% per annum if, on a monthly observation date, every index closes at or above its coupon barrier, set at 70% of its initial level.
UBS may call the Notes in whole, beginning after six months, paying 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, set at 60% of its initial level, investors receive back principal at maturity. If any index finishes below its downside threshold, repayment is reduced in line with the negative return of the worst-performing index, and investors could lose all of their initial investment. All payments depend on UBS’s credit, and the estimated initial value is expected between $952.00 and $982.00 per $1,000 Note.
UBS AG is offering $13,000,000 of Trigger Callable Contingent Yield Notes, each with a $1,000 principal amount, linked to the least performing of the Dow Jones Industrial Average®, the Nikkei 225® Index and the S&P 500® Index. The Notes run for approximately 15 months, from a December 23, 2025 settlement date to a March 23, 2027 maturity date, and pay a contingent coupon at a rate of 11.78% per annum (or $29.45 per quarter) only if on each observation date all three indices are at or above their coupon barriers, set at 70% of initial levels.
UBS may call the Notes on any quarterly observation date (other than the final one), repaying principal plus any due coupon, after which no further payments are made. If the Notes are not called and, at maturity, all indices are at or above their downside thresholds, set at 65% of initial levels, investors receive full principal back (plus any final coupon if barriers are met). If any index finishes below its downside threshold, repayment is reduced in line with the negative return of the worst-performing index, and investors could lose their entire investment. All payments depend on UBS’s creditworthiness, and the estimated initial value of each Note is $987.70, below the $1,000 issue price.
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, maturing around December 29, 2028. The Notes pay a contingent coupon at a rate of 10.50% per annum (for example, $8.75 per $1,000 Note per month) only if on each monthly observation date the closing level of every index is at or above its coupon barrier, set at 70% of its initial level. UBS may call the Notes in whole, beginning after three months, paying back principal plus any due coupon, after which no further payments are made.
If the Notes are not called and, at maturity, each index is at or above its downside threshold (also 70% of its initial level), investors receive full principal back, plus any final contingent coupon. If any index finishes below its downside threshold, the maturity payment is reduced in line with the negative return of the weakest index, and investors can lose some or all of their initial investment. Payments depend on UBS’s credit, and the estimated initial value is expected to range from $960.50 to $990.50 per $1,000 Note.
UBS AG, acting through its London branch, is offering $2,782,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing on December 21, 2028.
The Notes pay a quarterly contingent coupon of 8.30% per annum ($20.75 per $1,000) only if on each observation date both indices close at or above their coupon barriers, set at 70% of their initial levels (the same levels also serve as downside thresholds). UBS may, at its discretion, call the Notes in whole on any quarterly observation date beginning after six months, returning principal plus any due coupon.
If the Notes are not called and either index finishes below its downside threshold at maturity, investors receive $1,000 multiplied by 1 plus the return of the worst-performing index, which can result in a significant loss of principal, up to 100%. The Notes are unsecured, unsubordinated obligations of UBS, not insured deposits, and payments depend entirely on UBS’s creditworthiness. The estimated initial value is $961.10 per $1,000, reflecting dealer compensation, hedging and issuance costs.
UBS AG is offering Trigger Callable Contingent Yield Securities linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500 indices. Each security has a $1,000 stated principal amount and a contingent coupon of $23.75 per quarter, equal to 9.50% per annum, but coupons are paid only if on each observation date all three indices are at or above 70% of their initial levels.
The notes run for about 24 months unless UBS calls them early at its discretion on a coupon date, in which case investors receive principal plus any due coupon and no further payments. If the notes are not called and at maturity all indices are at or above their 70% trigger levels, investors receive full principal plus any final coupon. If any index finishes below its trigger, repayment is reduced in line with the worst index’s loss, and investors can lose most or all of their investment.
The securities are unsecured obligations of UBS AG London Branch, are not insured deposits, and carry issuer credit risk. The estimated initial value is projected between $935.50 and $965.50 per $1,000 issue price, reflecting fees, funding and hedging costs.
UBS AG is offering $1,505,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the Health Care Select Sector SPDR Fund, maturing December 21, 2028. These unsecured notes pay a contingent coupon at a rate of 11.55% per annum (or $9.625 per $1,000 note per month) only if on each monthly observation date all three underlying assets close at or above 70% of their initial levels, which also serve as coupon barriers and downside thresholds.
UBS can call the notes in whole, but not in part, on any observation date starting after three months, paying back principal plus any due coupon; investors then receive no further payments. If the notes are not called and at maturity any underlying finishes below its downside threshold, the repayment is reduced one-for-one with the worst performer’s decline, and investors can lose up to 100% of principal.
The notes do not provide any upside participation in the underlying assets or dividends, will not be listed on an exchange and may have little or no secondary market. All payments depend on UBS’s credit, and the estimated initial value is $987.00 per $1,000 note, reflecting dealer compensation, hedging and UBS’s internal funding rate.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on December 26, 2028. These unsecured debt notes pay a contingent coupon only if Dell’s share price on a quarterly 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 Dell’s stock closes at or above the initial level on an observation date, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and Dell’s final share price is at or above a downside threshold at maturity, investors receive their principal back; if it is below that threshold, repayment is reduced in line with Dell’s decline, and all principal can be lost. Payments depend on UBS’s credit. Each note has a $10 principal amount, with a minimum investment of 100 notes ($1,000), and the estimated initial value is $9.64 per note.
UBS AG is offering $1,645,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on December 26, 2028. These unsecured debt securities may pay periodic contingent coupons, but only if Dell’s share price on each observation date is at or above a specified coupon barrier.
The notes can be automatically called before maturity if Dell’s stock closes at or above the initial level on any observation date, in which case investors receive their principal plus any due contingent coupon and the product terminates. If the notes are not called and Dell’s final stock price is at or above a downside threshold, investors receive back the $10 principal per note at maturity.
If the notes are not called and Dell’s final stock price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their investment. All payments, including any coupons and principal, depend on the creditworthiness of UBS, and the notes are not insured or exchange-listed.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on or about December 26, 2028. These unsecured, unsubordinated debt obligations can pay quarterly contingent coupons, but only if Dell’s share price on the relevant observation date is at or above a preset coupon barrier.
The Notes may be automatically called early if Dell’s stock closes at or above the initial level on any observation date beginning after six months. In that case, investors receive the principal plus any due contingent coupon, and the Notes terminate. If not called, and Dell’s final level on the valuation date is at or above a downside threshold, investors receive full principal back; if it is below that threshold, repayment is reduced in line with Dell’s percentage decline, and all principal can be lost.
The minimum investment is 100 Notes at $10 per Note, and the estimated initial value per Note on the trade date is expected to be between $9.34 and $9.59. 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 linked to the common stock of Dell Technologies Inc., maturing on or about December 26, 2028. These unsecured debt securities pay a contingent coupon only when Dell’s closing share price on an observation date is at or above a preset coupon barrier.
The Notes are automatically called if Dell’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 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 one-for-one with Dell’s decline and can fall to zero.
The product is significantly riskier than conventional bonds: investors may receive no coupons and may lose some or all of their initial investment. All payments depend on the creditworthiness of UBS. The estimated initial value per $10 Note is expected to be between $9.35 and $9.60, reflecting internal pricing and funding assumptions.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on December 23, 2026. The Notes pay a contingent coupon only if the stock closes at or above a specified coupon barrier on each observation date; otherwise no coupon is paid.
The Notes are automatically called early if the stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the $10 principal per Note plus any due coupon and no further payments. If the Notes are not called and the final stock level is at or above the 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 losses can reach 100% of the investment. Payments depend on UBS’s credit, and the estimated initial value is $9.76 per $10 Note. The minimum investment is 100 Notes, or $1,000.
UBS AG is offering $494,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Starbucks Corporation, scheduled to mature on December 26, 2028. These unsecured debt notes pay a contingent coupon only when Starbucks’ closing share price on a quarterly 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 about six months if Starbucks’ share price on an observation date is at or above the initial level, in which case investors receive the principal plus any due coupon and the product terminates early. If the notes are not called and the final share price on the valuation date is at or above a downside threshold, investors receive back the $10 principal per Note, plus any final coupon. If the final share price is below the downside threshold, repayment is reduced in line with the stock’s loss, and investors can lose some or all of their initial investment.
The minimum investment is 100 Notes at $10 each, and the estimated initial value per Note is $9.74, reflecting UBS’s internal pricing. All payments depend on the creditworthiness of UBS, and the notes 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 First Solar, Inc., maturing on or about December 23, 2026. These unsecured debt securities pay a contingent coupon only if, on each observation date, the First Solar share price is at or above a preset coupon barrier. If on any observation date before maturity the share price is at or above the initial level, the Notes are automatically called, and investors receive their principal plus the applicable contingent coupon, with no further payments.
If the Notes are not called and the final stock price on December 21, 2026 is at or above the downside threshold, investors receive their full principal back (and a final coupon if the price is also above the coupon barrier). If the final stock price is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose all of their initial investment. Any payments depend on the creditworthiness of UBS.
The Notes are expected to settle on December 23, 2025, with a minimum investment of 100 Notes at $10 per Note. The estimated initial value per Note on the trade date is expected to be between $9.44 and $9.69, based on UBS internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on or about December 23, 2026. Each Note has a principal amount of $10, with a minimum investment of 100 Notes.
Investors receive contingent coupons only if CrowdStrike’s 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 the stock closes at or above the initial level on any observation date before maturity, returning principal plus the applicable contingent coupon.
If the Notes are not called and the final stock level is at or above the downside threshold, UBS repays the $10 principal per Note. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all of their initial investment. Payments depend on the creditworthiness of UBS, and the Notes will not be listed on any exchange. The estimated initial value per $10 Note is expected to be between $9.45 and $9.70.
UBS AG is offering $1,755,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., maturing on December 26, 2028. These unsecured debt securities can pay periodic contingent coupons only when Netflix’s share price on an observation date is at or above a specified coupon barrier; if it is below, no coupon is paid for that period.
The notes are automatically called early if Netflix’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 coupon and no further payments. If the notes are not called and, at maturity, Netflix’s share price is at or above the downside threshold, investors receive full principal; if it is below the downside threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.76 per note. All payments, including any coupons and repayment of principal, depend on the creditworthiness of UBS AG, 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 Starbucks Corporation, with a scheduled maturity around December 26, 2028. The Notes pay a contingent coupon only if the Starbucks share price on each quarterly observation date, including the final valuation 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 quarterly observation date beginning after about 6 months, Starbucks’ share price is at or above the initial level. In that case, investors receive the principal 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 their principal at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s decline, and the entire investment can be lost.
The minimum investment is 100 Notes at $10 per Note. UBS expects the initial value to be between $9.37 and $9.62 per $10 Note, based on internal pricing models. All payments depend on the creditworthiness of UBS, and the Notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Snowflake Inc. stock, maturing December 26, 2028. These unsecured debt notes pay a contingent coupon only if Snowflake’s closing share price on each observation date is at or above a preset coupon barrier. If on any observation date before maturity the share price is at or above the initial level, the notes are automatically called, and investors receive the $10 principal per note plus the applicable coupon, with no further payments.
If the notes are not called and Snowflake’s final share price on the valuation date is at or above the downside threshold, investors receive full principal at maturity, plus any final contingent coupon if the coupon barrier is met. If the final share price is below the downside threshold, repayment is reduced in line with Snowflake’s decline, and investors can lose up to their entire investment. Payments depend on UBS’s credit, the notes are not listed on an exchange, and the estimated initial value is $9.67 per $10 note, with a $1,000 minimum investment.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc. The Notes are unsecured, unsubordinated debt that can pay periodic contingent coupons, but only when Netflix’s closing share price on an observation date is at or above a preset coupon barrier. If on any observation date before the final valuation date the share price is at or above the initial level, the Notes are automatically called and investors receive their principal plus any due coupon, with no further payments.
If the Notes are not called and Netflix’s share price on the final valuation date is at or above a downside threshold, investors receive the full principal at maturity. If the final share price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their initial investment. Any payment depends on the creditworthiness of UBS. The Notes are expected to trade on a T+2 settlement basis, mature on or about December 26, 2028, and are offered in minimum investments of 100 Notes at $10 per Note.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., maturing on December 26, 2028. Each Note has a $10 principal amount and pays a contingent coupon, here illustrated at a 17.04% per annum rate ($0.426 per period), only if Palantir’s share price on the relevant observation date is at or above a coupon barrier set at 50% of the initial level.
The Notes can be automatically called early if Palantir’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive $10 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 the downside threshold (also 50% of the initial level), investors receive full principal back, plus any final contingent coupon.
If the Notes are not called and the final level is below the downside threshold, repayment is reduced dollar-for-dollar with Palantir’s percentage decline, and investors can lose all of their investment. All payments depend on UBS’s credit, and the estimated initial value per Note is $9.70.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., with a trade date of December 19, 2025 and expected maturity on or about December 26, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes (a $1,000 investment). UBS will pay contingent coupons only if the Snowflake share price on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid.
The Notes are automatically called early if Snowflake’s share price on any observation date (before the final one) is at or above the initial level, in which case investors receive principal plus any due coupon and the product ends. If the Notes are not called and Snowflake’s final level is at or above a downside threshold, principal is repaid at maturity; if it is below that threshold, repayment is reduced in line with Snowflake’s decline, and the entire investment can be lost. All payments depend on the creditworthiness of UBS, and the Notes are not insured or exchange‑listed. The estimated initial value per Note is expected to be between $9.37 and $9.62, below the $10 issue price.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Lyft, Inc. common stock, maturing December 23, 2027. The Notes pay a high contingent coupon, illustrated at 22.37% per annum ($0.3728 per $10 Note per period), only when Lyft’s share price on an observation date is at or above the coupon barrier, set in the examples at 60% of the initial level. If Lyft’s stock is at or above the initial level on any bimonthly observation date after about six months, the Notes are automatically called and investors receive $10 per Note plus any due coupon, with no further payments.
If the Notes are not called and Lyft’s final share price is at or above the downside threshold (illustrated as 60% of the initial level), investors receive their $10 principal back, plus a final coupon if the barrier is met. If the final price is below the downside threshold, repayment is reduced in line with Lyft’s percentage decline, and investors can lose their entire investment, as shown by the $3.60 payoff in the severe-loss example. The Notes are unsecured obligations of UBS, carry issuer credit risk, will not be listed on an exchange, and have an estimated initial value of $9.73 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., maturing on or about December 26, 2028. Each Note has a principal amount of $10 and pays a contingent coupon only if Palantir’s closing stock price on an observation date is at or above a preset coupon barrier.
The Notes are automatically called early if Palantir’s stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the $10 principal plus the applicable contingent coupon and no further payments. If the Notes are not called and the final stock level is at or above the downside threshold, UBS repays the $10 principal at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and the entire investment can be lost.
The document includes a hypothetical example with a 15.44% per annum coupon rate, a $0.386 quarterly coupon on a $10 Note, and a downside threshold and coupon barrier each set at $50.00, or 50.00% of the initial level. The estimated initial value per $10 Note on the trade date is expected to be between $9.35 and $9.60. All payments depend on the creditworthiness of UBS.
UBS AG is offering $1,044,000 of Airbag Autocallable Yield Notes linked to the common stock of Broadcom Inc., maturing on December 28, 2026. The Notes pay fixed coupons on each coupon payment date regardless of Broadcom’s share performance, unless they are automatically called. They are subject to quarterly automatic call observations beginning about six months after issue; if Broadcom’s closing level is at or above the initial level on an observation date, investors receive principal plus the applicable coupon and the Notes terminate.
If the Notes are not called and Broadcom’s final level is at or above a specified conversion level, investors receive full principal back at maturity plus the final coupon. If the final level is below the conversion level, investors receive a fixed share delivery amount of Broadcom stock (and cash for any fractional share), which is expected to be worth less than principal, so some or all of the initial investment may be lost. All payments depend on UBS’s credit, the Notes are not insured or exchange-listed, and the estimated initial value per Note of $978.90 is below the $1,000 principal amount.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc., maturing on or about December 23, 2027. These unsubordinated, unsecured debt obligations can pay a contingent coupon on each observation date only if the underlying stock closes at or above a specified coupon barrier; otherwise, no coupon is paid for that period.
The notes are automatically called early if, on any bimonthly observation date beginning after six months, the stock closes at or above its initial level. In that case, investors receive the principal plus any due coupon, and the notes terminate. If the notes are not called and, on the final valuation date, the stock is at or above a downside threshold, investors receive only their principal back, plus any final coupon if the barrier is met. If the stock ends 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 will not be listed on any exchange. The minimum investment is 100 notes at $10 per note, and the estimated initial value is expected to be between $9.41 and $9.66 per note. All payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lyft, Inc., maturing on or about December 23, 2027. These unsecured debt notes can pay a contingent coupon on each observation date only if Lyft’s closing share price is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Lyft’s share price on any bimonthly observation date (starting after six months) is at or above the initial level, in which case investors receive the principal plus any due coupon and the notes terminate. If the notes are not called and, on the final valuation date, Lyft’s share price is at or above the downside threshold, investors receive their $10 principal per note; if it is below that threshold, repayment is reduced in line with Lyft’s negative return and could fall to zero.
All payments depend on UBS’s credit. The notes will not be listed on any exchange. The minimum investment is 100 notes at $10 each, and the estimated initial value per note is expected to be between $9.38 and $9.63.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of PG&E Corporation, maturing on December 23, 2026. These unsecured debt notes may pay contingent coupons only if the PG&E 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 PG&E’s stock is at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per note plus any due contingent coupon, with no further payments. If the notes are not called and PG&E’s final stock level is at or above a downside threshold, investors receive only their principal; if it is below that threshold, repayment is reduced in line with the stock’s loss and can fall to zero.
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 $9.77 per note as of the trade date.
UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of Broadcom Inc., maturing on or about December 28, 2026. These unsecured debt obligations pay a coupon on each coupon payment date regardless of Broadcom’s performance, unless the Notes are automatically called.
The Notes are automatically called if, on any quarterly observation date beginning about six months after issuance, Broadcom’s closing level is at or above the initial level. In that case, investors receive the principal amount plus the scheduled coupon on the call settlement date, and no further payments are made.
If the Notes are not called and Broadcom’s final level on the final valuation date is at or above a specified conversion level, UBS repays the full principal plus the final coupon. If the final level is below the conversion level, investors receive shares of Broadcom (plus cash for any fractional share) expected to be worth less than principal, which can mean losing some or all of the initial investment. All payments and share deliveries depend on the creditworthiness of UBS, and the estimated initial value is expected to be between $947.90 and $972.90 per $1,000 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., maturing on December 23, 2027. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not FDIC insured.
Investors receive a contingent coupon only if Snowflake’s closing share price on a given observation date, including the final valuation date, is at or above a preset coupon barrier. The notes are automatically called early if, on any bimonthly observation date starting after six months, Snowflake’s share price is at or above the initial level, in which case UBS repays principal plus the applicable contingent coupon and the product terminates.
If the notes are not called and Snowflake’s final level is at or above the downside threshold, UBS repays the $10 principal per note at maturity. If the final level is below the downside threshold, repayment is reduced in line with Snowflake’s percentage decline, and investors can lose all of their investment. The estimated initial value is $9.74 per $10 note, and the minimum investment is 100 notes, or $1,000. All payments depend on UBS’s creditworthiness, and the notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of PG&E Corporation, maturing on or about December 23, 2026. These unsecured debt obligations can pay contingent coupons 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 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 stock level 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 the stock’s decline and losses can reach 100% of the investment. The minimum investment is 100 notes at $10 per note, and the estimated initial value per note on the trade date is expected to be between $9.41 and $9.66, reflecting UBS’s internal pricing models. All payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc., maturing on or about December 23, 2027. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not insured by any governmental agency.
Investors receive a contingent coupon on each observation date only if Snowflake’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 on bimonthly observation dates starting about six months after issuance if the shares are at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and the notes terminate early.
If the notes are not called and Snowflake’s final share price is at or above a downside threshold, investors receive only their principal at maturity. If the final price is below the downside threshold, repayment is reduced in line with the share price decline, and investors can lose all of their initial investment. Any payment depends entirely on the creditworthiness of UBS. The minimum investment is 100 notes at $10 each, and the estimated initial value per $10 note is expected to be between $9.41 and $9.66.