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 $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on December 20, 2027. These unsecured debt notes pay a contingent coupon only if Vistra’s share price on each quarterly observation date is at or above a preset coupon barrier; otherwise, no income is paid for that period.
The notes can be called early each quarter after the first year if Vistra’s stock is at or above the initial level. In that case, investors receive the $10 principal per Note plus any coupon due, and the investment ends. If the notes are not called and Vistra’s final share price 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 Vistra’s percentage loss and can fall to zero.
Any payment depends on UBS’s credit. The notes are not listed, have a minimum investment of 100 Notes at $10 each, and have an estimated initial value of $9.63 per $10 Note, reflecting UBS’s internal pricing and funding costs.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on or about December 20, 2027. These unsecured debt notes can pay quarterly contingent coupons only when Vistra’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 if, on any quarterly observation date beginning after 12 months, Vistra’s share price is at or above the initial level. In that case, investors receive the $10 principal per note plus the applicable contingent coupon, and the product terminates. If not called, and at maturity Vistra is at or above the downside threshold, investors receive full principal back (and a final coupon if above the barrier). If the final share price is below the downside threshold, repayment is reduced in line with the stock’s loss, and investors can lose their entire investment.
The notes are not listed, have a minimum investment of 100 notes at $10 each, and the estimated initial value per $10 note is expected to range from $9.33 to $9.58. All payments depend on UBS’s creditworthiness.
UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, maturing December 21, 2026. These unsecured debt securities can pay periodic contingent coupons only when Fluor’s share price on an observation date is at or above a preset coupon barrier, which in the examples equals 60% of the initial stock level.
The notes are automatically called early if Fluor’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per note plus any due coupon, and no further payments. If the notes are not called and Fluor’s final stock level is at or above the downside threshold, UBS repays principal at maturity and may also pay a final coupon.
If the notes are not called and Fluor’s final stock level is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and investors can lose some or all of their initial investment. All payments depend on UBS’s credit; a UBS default could result in a total loss. The minimum investment is 100 notes at $10 each, and the notes will not be listed on any exchange.
UBS AG is offering $805,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on December 19, 2030. Each Note has a $10 principal amount, with a minimum investment of 100 Notes (a $1,000 investment). Investors receive a contingent coupon only if Broadcom’s closing level on an observation date is at or above the coupon barrier, set at $60.00 (60.00% of the initial level in the hypothetical example), at a rate of 14.36% per annum, or else no coupon is paid for that period.
The Notes are automatically called if Broadcom’s level on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon, with no further payments. If not called, and Broadcom’s final level is at or above the downside threshold (also $60.00 in the example), principal is repaid at maturity, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s negative return, and investors can lose up to 100% of their principal. Any payment depends on the creditworthiness of UBS, and the estimated initial value of each Note on the trade date is $9.73.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Fluor Corporation, maturing on or about December 21, 2026. These unsecured debt notes pay a contingent coupon only if Fluor’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Fluor’s stock closes at or above the initial level on any observation date before maturity. In that case, investors receive the principal plus any due coupon on the call settlement date, and the notes terminate. If not called, and the final stock level is at or above the downside threshold, principal is repaid at maturity.
If the notes are not called and the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, and investors can lose all principal. The minimum investment is 100 Notes at $10 per Note. The estimated initial value per Note on the trade date is expected between $9.43 and $9.68. The notes will not be listed on any exchange, and all payments depend on UBS’s credit.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Dell Technologies Inc. common stock, maturing on December 19, 2028. These unsecured debt securities pay a contingent coupon only if Dell’s share price on a given 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 can be automatically called early if Dell’s stock closes at or above the initial level on any observation date before maturity. In that case, investors receive the $10 principal per Note plus any due contingent coupon, and the notes terminate. If not called, and Dell’s final stock level is at or above a defined downside threshold, investors receive only their $10 principal per Note at maturity.
If the notes are not called and Dell’s final stock level falls 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 notes are not listed, have an estimated initial value of $9.66 per $10 Note, require a minimum purchase of 100 Notes ($1,000), and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Broadcom Inc., maturing on or about December 19, 2030. These are unsecured, unsubordinated debt obligations of UBS that pay a contingent coupon only if Broadcom’s share price on an observation date is at or above a preset coupon barrier.
The notes may be automatically called before maturity if Broadcom’s share price is at or above the initial level on any observation date, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and Broadcom’s final share level is at or above a downside threshold, investors receive the $10 principal per note at maturity. If the final level is below the downside threshold, repayment is reduced in line with Broadcom’s decline, and investors can lose all of their initial investment.
The minimum investment is 100 notes at $10 each. Any payment depends on UBS’s creditworthiness, the notes are not bank deposits, are not FDIC insured, and will not be listed on any securities exchange. The estimated initial value per note on the trade date is expected to be between $9.32 and $9.57.
UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Best Buy Co., Inc., maturing on December 21, 2026. These unsecured debt notes pay a contingent coupon only when Best Buy’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 Best Buy’s stock closes at or above the initial level on any observation date before the final valuation date. If called, investors receive the $10 principal per Note plus any due contingent coupon, and no further payments. If not called, and the final stock level is at or above a downside threshold, investors receive full principal at maturity; if it is below the threshold, repayment is reduced in line with the stock’s percentage decline, and the entire investment can be lost.
All payments depend on UBS’s credit. The notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, and require a minimum investment of 100 Notes at $10 each. UBS estimates the initial value at $9.76 per Note based on its internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on or about December 19, 2028. These unsecured debt notes can pay periodic contingent coupons only when Dell’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 are automatically called early if Dell’s stock closes at or above the initial level on any observation date before maturity. In that case, investors receive the principal plus any due contingent coupon on the call settlement date, and the notes terminate. If the notes are not called and Dell’s final stock level is at or above a downside threshold, investors receive only their principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with Dell’s percentage decline, and investors can lose all of their initial investment.
Any payment depends on UBS’s creditworthiness. The notes are expected to settle T+2, are not listed on any exchange, require a minimum investment of 100 notes at $10 each, and have an estimated initial value between $9.33 and $9.58 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Best Buy Co., Inc., maturing on or about December 21, 2026. These unsecured debt notes may pay periodic contingent coupons, but only when Best Buy’s closing share price on an observation date is at or above a preset coupon barrier.
The notes can be automatically called before maturity if Best Buy’s share price on an observation date is at or above the initial level, in which case investors receive principal plus any due coupon and the investment ends. If the notes are not called and Best Buy’s final share price is at or above a downside threshold, investors receive full principal back at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline, and all principal can be lost. Payments depend on UBS’s credit, the notes will not be listed, and the estimated initial value is expected to be between $9.39 and $9.64 per $10 note.
UBS AG is offering $3,950,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on December 20, 2027. These unsecured debt notes can pay periodic contingent coupons only when Amazon’s share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes may be automatically called early if Amazon’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 $10 principal per note plus the applicable contingent coupon, and the product terminates. If the notes are not called and the final Amazon share price 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, up to a total loss of principal.
Any payment depends on UBS’s creditworthiness. The notes are not listed on any exchange, have a minimum investment of 100 notes at $10 each, and have an estimated initial value of $9.83 per note based on UBS internal pricing models.
UBS AG is offering $1,435,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on December 19, 2030. These structured notes pay a contingent coupon only when NVIDIA’s share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be called early if NVIDIA’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 applicable contingent coupon, and the product terminates. If the notes are not called and NVIDIA’s final level is at or above the downside threshold (65% of the initial level), investors get back their principal; if it is below, repayment is reduced one-for-one with the stock’s decline, and the entire investment can be lost.
The minimum investment is 100 notes (a $1,000 investment), and the estimated initial value is $9.72 per $10 note. The indicative contingent coupon rate in the examples is 13.35% per annum, paid quarterly when conditions are met. The notes are unsecured, unsubordinated obligations of UBS, not listed on any exchange, and all payments depend on UBS’s creditworthiness in addition to NVIDIA’s share performance.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on or about December 20, 2027. Each Note has a principal amount of $10, with a minimum investment of 100 Notes, and pays a contingent coupon only if Amazon’s closing level on an observation date is at or above a specified coupon barrier.
The Notes are automatically called if Amazon’s closing level on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and no further payments. If the Notes are not called and Amazon’s 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 share’s decline and can fall to zero.
All payments depend on the creditworthiness of UBS. These securities are unsecured, unsubordinated obligations, are not bank deposits, are not insured, and may result in a significant or total loss of the initial investment. The estimated initial value per $10 Note on the trade date is expected to be between $9.45 and $9.70.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about December 19, 2030. These unsecured debt obligations can pay a periodic contingent coupon only when NVIDIA’s closing share price on an observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The Notes may be automatically called early if NVIDIA’s share price on any observation date before maturity is at or above the initial level, in which case investors receive their principal plus the applicable contingent coupon, and the Notes terminate. If the Notes are not called and NVIDIA’s final share price is at or above a defined downside threshold, investors receive full principal at maturity, potentially with a final coupon. If the final share price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their initial investment. All payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Dell Technologies Inc., maturing on December 20, 2027. Each Note has a $10 principal amount, with a minimum investment of 100 Notes, and an estimated initial value of $9.68 per Note based on UBS’s internal pricing models.
Investors receive 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 if Dell’s price on an observation date is at or above the initial level, in which case investors receive principal plus the applicable coupon and the product terminates early.
If the Notes are not called and Dell’s final share price is at or above the downside threshold, investors receive back the full principal, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with the share price decline and investors can lose up to 100% of principal. All payments depend on the creditworthiness of UBS, and the Notes will not be listed on any exchange.
UBS AG is offering $565,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc., maturing on December 21, 2026. These unsecured debt securities pay a contingent coupon only if MercadoLibre’s share price on a quarterly observation date, including the final valuation date, is at or above a preset coupon barrier.
The notes are automatically called early if on any observation date beginning after 6 months the share price is at or above the initial level, 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 share price is at or above the downside threshold, investors receive back principal, and potentially a final coupon. If the final share price is below the downside threshold, repayment is reduced one-for-one with the stock’s decline, and investors could lose their entire investment.
The minimum investment is 100 Notes at $10 each. The estimated initial value per Note is $9.72. All payments depend on UBS’s credit, so a UBS default could result in loss of all amounts due.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of MercadoLibre, Inc., with a scheduled maturity on or about December 21, 2026. Each Note has a $10 principal amount, with a minimum investment of 100 Notes, or $1,000.
Investors can receive contingent quarterly coupons only if the underlying stock closes at or above a specified coupon barrier on each observation date. The Notes may be automatically called before maturity if the stock closes at or above its initial level on an observation date, in which case investors receive 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 defined downside threshold, investors receive full principal at maturity, plus any final coupon if the coupon barrier is met. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose some or all of their initial investment. All payments depend on the creditworthiness of UBS. The estimated initial value per Note on the trade date is expected to be between $9.34 and $9.59.
UBS AG is offering $820,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company, maturing on December 19, 2030. These unsecured debt notes pay contingent coupons only when Eli Lilly’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 Eli Lilly’s share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and the notes terminate. If the notes are not called and Eli Lilly’s final share price is at or above a downside threshold, principal is repaid 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 minimum investment is 100 notes at $10 per note. The estimated initial value is $9.72 per note, reflecting UBS’ internal pricing models. All payments depend on UBS’ credit; if UBS defaults, investors may receive nothing. The notes will not be listed on any exchange, and secondary market liquidity may be limited.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company, with a scheduled maturity on or about December 19, 2030 and a denomination of $10 per Note. These unsecured debt securities can pay contingent coupons only when the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid for that period.
The Notes are automatically called early if the stock closes at or above its initial level on any observation date before maturity, 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 their principal back; if it is below the threshold, repayment is reduced in line with the stock’s decline and all principal can be lost. All payments depend on the credit of UBS, and the Notes will not be listed on an exchange. A hypothetical example illustrates a contingent coupon rate of 8.90% per year and a downside threshold and coupon barrier set at 70.00% of the initial level.
UBS AG is offering $100,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Albemarle Corporation, maturing on December 21, 2026. These unsecured notes pay a contingent coupon only if Albemarle’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period. The notes are automatically called early if the share price on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and no further payments.
If the notes are not called and Albemarle’s final share price is at or above the downside threshold, investors receive full principal at maturity; if it is below the threshold, repayment is reduced in line with the stock’s decline and can fall to zero. An example shows a 21.02% per annum contingent coupon with a downside threshold and coupon barrier at 60% of the initial level. The notes are sold at $10 per note with a minimum $1,000 investment, and the estimated initial value is $9.74 per note. All payments depend on UBS’s creditworthiness and the notes will not be listed on any exchange.
UBS AG is offering $210,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on December 19, 2028. These unsecured debt notes pay a contingent coupon only if CrowdStrike’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, with return of principal plus any due coupon, if the share price on any observation date before maturity is at or above the initial level.
If the notes are not called and the final share price on the December 15, 2028 valuation date is at or above a downside threshold, investors receive their $10 principal per note at maturity; if it is below the threshold, repayment is reduced in line with the stock’s decline and can fall to zero. Any payment depends on UBS’s creditworthiness. The notes are not listed, require a minimum investment of 100 notes ($1,000), and their estimated initial value is $9.71 per $10 note.
UBS AG is offering $130,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, maturing on December 19, 2028. These unsecured debt notes pay a contingent coupon only if Intel’s closing share price on an observation date is at or above the coupon barrier, illustrated as $60.00, which is 60% of the initial level, with a sample contingent coupon rate of 15.77% per annum (or $0.3943 per $10 note).
The notes are automatically called if Intel’s stock is at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal plus the applicable contingent coupon and no further payments. If not called, and Intel’s final share level is at or above the downside threshold (also illustrated as $60.00), investors receive their principal back plus any final coupon. If the final level is below the downside threshold, repayment is reduced in line with Intel’s negative return, and investors can lose a significant portion or all of their investment. The notes are not listed on any exchange, have an estimated initial value of $9.70 per $10 note, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on or about December 19, 2028. These are unsecured debt obligations of UBS with principal at risk and no listing on any exchange.
Investors receive a contingent coupon only if, on an observation date, the CrowdStrike share price is at or above a preset coupon barrier. The Notes are automatically called early if the share price on any observation date before maturity is at or above the initial level, in which case UBS repays principal plus the applicable coupon and makes no further payments.
If the Notes are not called and the final share price is at or above the downside threshold, UBS repays the $10 principal per Note; if it is below that 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 ($1,000), and the estimated initial value per Note on the trade date is expected between $9.37 and $9.62, subject to UBS’ credit risk.
UBS AG is offering trigger autocallable contingent yield notes linked to the common stock of Intel Corporation, maturing around December 19, 2028. These unsecured debt securities pay a contingent coupon only when Intel’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 Intel’s share price on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable contingent coupon and no further payments. If the notes are not called and Intel’s final level is at or above a downside threshold, principal is repaid at maturity, but if the final level is below this threshold, repayment is reduced in line with Intel’s decline and investors can lose their entire investment.
The notes are subject to UBS credit risk, are not bank deposits, are not insured, and will not be listed on any exchange. The minimum investment is 100 notes at $10 each, and the estimated initial value per note on the trade date is expected to be between $9.38 and $9.63.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc., maturing on December 20, 2027. These unsecured, unsubordinated notes pay a contingent coupon only if the stock closes on or above a specified coupon barrier on each observation date; otherwise no coupon is paid for that period. Starting after 12 months, the notes are automatically called if the stock closes at or above its initial level on an observation date, in which case investors receive the $10 principal per note plus any due coupon and the product terminates early.
If the notes are not called and the final stock level on the December 16, 2027 valuation date is at or above the downside threshold, investors receive full principal back at maturity; if it is below the downside 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. The minimum investment is 100 notes ($1,000), and the estimated initial value is $9.76 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc., maturing on or about December 20, 2027. These unsecured, unsubordinated notes pay a contingent coupon only if the stock closes at or above a specified coupon barrier on quarterly observation dates; otherwise no coupon is paid for that period.
The notes can be automatically called after 12 months if the stock closes at or above the initial level on an observation date, in which case 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 can result in a total loss of principal. The notes are issued at $10 per Note, with an estimated initial value between $9.42 and $9.67, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $130,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc., maturing on December 19, 2028. 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 for that period. 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 coupon and ending further payments.
If the notes are not called and the final stock level on December 15, 2028 is at or above the downside threshold, investors receive only their principal back, plus any final contingent coupon if the coupon barrier is also met. If the final level is below the downside threshold, the maturity payment is reduced in line with the stock’s decline, and investors can lose all of their investment. The notes are issued in $10 denominations, have a minimum investment of 100 notes, are not listed on any exchange, and have an estimated initial value of $9.51 per $10 note, subject to UBS’s credit risk.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc., maturing on or about December 19, 2028. These unsecured, unsubordinated debt obligations can pay a contingent coupon on each observation date only if the stock closes at or above a preset coupon barrier.
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 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, principal is repaid at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s negative return and can fall to zero.
The minimum investment is 100 Notes at $10 each. The estimated initial value per Note on the trade date is expected to be between $9.18 and $9.43, based on UBS internal pricing models. All payments depend on UBS’s creditworthiness, and the notes will not be listed on any securities exchange.
UBS AG is offering $3,890,000 of Conversion Yield Notes linked to a 20-year U.S. Treasury bond maturing on November 15, 2045. Each $1,000 Note is issued by UBS AG London Branch, pays a fixed 7.60% per annum coupon and has a term of about six months, from a December 16, 2025 trade date to a June 19, 2026 maturity date. Investors receive a single coupon payment of $38.00 per Note at maturity regardless of bond performance.
If the underlying Treasury’s clean price on the final valuation date is at or above the initial clean price of 98.0938%, UBS repays the full $1,000 principal in cash. If the final clean price is lower, UBS delivers a physical amount of the bond equal to 10.1488 units per Note (with cash for any fraction), based on a conversion price of $98.5337, so the value will be less than principal and is expected to result in a loss.
The Notes are unsubordinated, unsecured obligations of UBS, not bank deposits, not FDIC insured, and depend entirely on UBS’s credit. They will not be listed, may have little or no secondary market, and may be redeemed early after specified underlying asset acceleration events. The estimated initial value is $989.80 per Note, below the $1,000 issue price, reflecting fees, hedging and UBS’s internal funding rate. The U.S. tax treatment is complex, with UBS treating the Notes as a combination of a debt instrument and a written put option.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, maturing on or about June 28, 2027. Each Note has a $1,000 principal amount and pays a 10.45% per annum contingent coupon (about $8.7083 monthly) only if, on an observation date, both indices close at or above their coupon barriers set at 70% of their initial levels.
UBS may call the Notes in whole, but not in part, on any monthly observation date beginning after six months, paying principal plus any due coupon. If the Notes are not called and, at maturity, either index is below its downside threshold (also 70% of initial level), investors receive $1,000 multiplied by one plus the return of the worst-performing index, which can result in losing some or all principal. Payments depend on UBS’s credit; the estimated initial value is $958.40–$988.40 per Note, and underwriting compensation can be up to $7.25 per Note.
UBS AG is offering 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 or about December 31, 2030. The Notes pay a 10.65% per annum contingent coupon (about $8.875 per $1,000 monthly) only if on each observation date the level of every index is at or above its coupon barrier, set at 75% of its initial level.
UBS may 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 each index finishes at or above its 60% downside threshold, investors receive full principal at maturity. If any index ends below its downside threshold, repayment is reduced one-for-one with the loss of the worst index, and all principal can be lost.
The Notes are unsecured UBS debt, not insured deposits, and all payments depend on UBS’s credit. They will not be listed, may have limited liquidity, and their estimated initial value is expected between $953.50 and $983.50 per $1,000 issue price, reflecting fees, hedging and UBS’s internal funding rate.
UBS AG is offering $2,000,000 of Buffer In‑Digital Securities, issued at $1,000 per Security and linked to the S&P 500® Index, maturing on January 21, 2027. If, on the final valuation date, the index level is at or above the digital barrier/downside threshold of 5,794.03 (85.00% of the 6,816.51 initial level), investors receive $1,000 plus a fixed 7.70% digital return, regardless of how much the index has risen.
If the final index level is below the downside threshold, the maturity payment is $1,000 × (1 + underlying return + 15.00% buffer), so losses begin once the index has fallen more than 15% from the initial level and can reach almost all of the principal. The Securities pay no interest, do not provide dividends or voting rights, and are unsecured, unsubordinated obligations of UBS AG, fully exposed to its credit risk.
The notes are not listed on an exchange and there may be little or no secondary market. The estimated initial value is $995.50 per Security, below the $1,000 issue price, reflecting underwriting discount, hedging and issuance costs. UBS receives proceeds of $997.80 per Security after a $2.20 underwriting discount.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the common stock of Alcoa Corporation. The Notes have a 2-year term, a principal amount of $1,000 per Note, and pay a contingent coupon of 14.90% per annum (paid quarterly as $37.25) only when Alcoa’s share price is at or above a coupon barrier set at 50% of the initial level on each observation date.
UBS may call the Notes after 6 months on any quarterly observation date, paying back principal plus any due coupon; no further payments would then be made. If the Notes are not called and Alcoa’s final share price is at or above the downside threshold, also 50% of the initial level, investors receive back the $1,000 principal in cash. If the final level is below the downside threshold, investors receive a share delivery amount of Alcoa stock instead of cash, expected to be significantly below principal, leading to large losses.
The estimated initial value is expected to range from $951.70 to $981.70 per Note, below the $1,000 issue price. UBS Securities LLC receives an $11.00 underwriting discount per Note, with net proceeds of $989.00 to UBS. Payments depend entirely on UBS’ creditworthiness, and the Notes will not be listed on any exchange.
UBS AG plans to issue unsubordinated, unsecured Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the VanEck® Semiconductor ETF. The Notes have a term of approximately five years, with an expected maturity on or about January 6, 2031.
Investors may receive a contingent coupon of 15.15% per annum, paid monthly, but only if on each observation date all three underlying assets are at or above 75% of their initial level. UBS can call the Notes quarterly after six months, paying back principal plus any due coupon, ending all future payments.
If the Notes are not called and, at maturity, all underlyings are at or above 60% of their initial level, UBS repays the $1,000 principal per Note (and possibly a final coupon). If any underlying finishes below its downside threshold, repayment is reduced in line with the worst performer, up to a total loss of principal. The Notes will not be listed, carry UBS credit risk, and have an estimated initial value between $952.90 and $982.90 versus the $1,000 issue price.
UBS AG is offering Trigger Callable Contingent Yield Notes, unsecured debt linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index. The Notes pay a 10.65% per annum contingent coupon, with monthly observation dates, but only when each index closes at or above its coupon barrier, set at 75% of its initial level.
The Notes are callable by UBS after six months; if called, investors receive the $1,000 principal per Note plus any due coupon, and the product terminates. If not called and each index finishes at or above its downside threshold of 60% of its initial level, investors receive full principal at maturity in December 2030. If any index finishes below its downside threshold, repayment is reduced one-for-one with the loss on the worst-performing index, and investors can lose their entire investment. The estimated initial value is expected between $953.50 and $983.50 per $1,000 issue price, and all payments depend on UBS’s credit.
UBS AG is offering Trigger Callable Contingent Yield Notes due June 22, 2027, linked to the worst performer of the Russell 2000 Index and the S&P 500 Index. Each Note has a $1,000 principal amount and pays a 9.55% per annum contingent coupon if, on a monthly observation date, both indices close at or above their coupon barriers, set at 65.00% of their initial levels. UBS may call the Notes in whole on any observation date starting after three months, paying principal plus any due coupon.
If the Notes are not called and, on the final valuation date, both indices are at or above their downside thresholds (also 65.00% of initial levels), investors receive full principal back. If any index finishes below its downside threshold, repayment is reduced in line with the worst index’s negative return, up to a total loss of principal. The estimated initial value is between $965.00 and $995.00 per $1,000 Note, the Notes are unsecured, not insured, not listed, and all payments depend on UBS’s creditworthiness.
UBS AG is offering 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 or about January 6, 2031. Each Note has a $1,000 principal amount and pays a contingent coupon at a rate of 11.10% per annum (about $9.25 per month) only if, on each monthly observation date, every index is at or above its coupon barrier, set at 75% of its initial level.
UBS may call the Notes in whole, but not in part, on any observation date beginning after 6 months; if called, investors receive the principal plus any due coupon and no further payments. 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 full principal at maturity. If any index finishes below its downside threshold, the maturity payment is reduced 1-for-1 with the loss on the worst-performing index, and investors could lose their entire investment. The estimated initial value is expected between $957.80 and $987.80 per $1,000 Note, reflecting dealer compensation and UBS’ internal funding rate.
UBS AG is offering $4,639,000 of trigger autocallable notes linked to the Russell 2000 Index and the EURO STOXX 50 Index, maturing in December 2030. The notes may be automatically called quarterly, starting about six months after issuance, if the closing level of each index is at or above its call threshold, set at 100% of its initial level. If called, investors receive $1,000 per note plus a call return based on an 11.60% per annum rate, with call prices rising over time.
If the notes are never called and on the final valuation date both indices finish at or above 75% of their initial levels (their downside thresholds), investors receive full principal back. If at least one index finishes below its downside threshold, the payoff is $1,000 multiplied by 1 plus the return of the worst-performing index, which can lead to a substantial loss, up to a complete loss of principal. The notes pay no interest, do not provide dividends from the underlying indices, are unsecured obligations of UBS, and their market value and repayment depend entirely on UBS’s creditworthiness.
UBS AG is offering Airbag In-Digital Securities linked to the S&P 500® Index, each with a $1,000 principal amount and maturing on or about March 22, 2027. These unsecured notes pay no interest and provide a fixed digital return of 9.65% at maturity if the index’s final level is at or above an 85.00% digital barrier, which is also the downside threshold.
If the S&P 500® closes below this 85.00% downside threshold on the final valuation date, investors receive less than their principal, losing about 1.1765% of principal for every 1% decline in the index beyond the 15.00% threshold, potentially down to zero. The estimated initial value per Security on the trade date is expected to be between $966.20 and $996.20, reflecting embedded fees and UBS’ internal funding rate.
UBS Securities LLC earns an underwriting discount of $2.50 per Security, so UBS’ proceeds are $997.50 per Security before other costs. Any payment at maturity depends entirely on the S&P 500® performance and the creditworthiness of UBS; if UBS defaults, investors could lose their entire investment.
UBS AG is offering $4,178,000 of Capped Buffer GEARS, unsecured debt securities linked to the iShares MSCI EAFE ETF, maturing on December 21, 2028. Each $1,000 Security provides 1.50x leveraged upside on any positive ETF return, but gains are capped at a 38.30% maximum, for a maximum payment of $1,383 per Security. A 15.00% buffer applies on the downside: if the ETF’s final level is at or above 85.00% of the initial $94.92 level ($80.68), investors receive back their $1,000 principal at maturity. If the final level falls below the downside threshold, repayment is reduced based on the ETF loss beyond the 15.00% buffer and investors can lose almost all of their investment. The Securities pay no interest, are not listed on an exchange, and all payments depend on the creditworthiness of UBS AG.
UBS AG is offering Trigger Callable Contingent Yield Notes due September 21, 2027, linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Equal Weight Index. The Notes pay a contingent coupon at a rate of 11.65% per annum (or $29.125 per quarter per $1,000) only if, on an observation date, each index closes at or above its coupon barrier, set at 70% of its initial level. UBS may call the Notes on any quarterly observation date (other than the final one) and repay principal plus any due coupon.
If the Notes are not called and, at maturity, any index finishes below its downside threshold, set at 65% of its initial level, investors receive less than the $1,000 principal in proportion to the decline of the worst-performing index, and could lose their entire investment. The estimated initial value is between $957.00 and $987.00 per $1,000. The Notes are unsecured obligations of UBS, not listed on any exchange and are not bank deposits or FDIC insured.
UBS AG is offering $970,000 of Trigger Autocallable Contingent Yield Notes due December 21, 2028, linked to the least performing of the VanEck Gold Miners ETF (GDX), the SPDR S&P Homebuilders ETF (XHB) and the Technology Select Sector SPDR Fund (XLK). The Notes pay a contingent coupon at a 14.25% per annum rate (about $11.875 per $1,000 note per month) only if on an observation date each ETF closes at or above its coupon barrier, set at 60% of its initial level.
The Notes are automatically called after six months if on an observation date each ETF is at or above its call threshold (100% of its initial level), paying back principal plus any due coupon. If not called and at maturity each ETF is at or above its downside threshold (60% of initial level), investors receive full principal. If any ETF finishes below its downside threshold, repayment is reduced one-for-one with the worst ETF’s loss, and all principal can be lost.
The Notes are unsecured, unsubordinated UBS debt, not insured by any government agency, and will not be listed on an exchange. The estimated initial value is $973.30 per $1,000 note, reflecting internal pricing, fees and hedging costs.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the S&P 500® Index, Russell 2000® Index and Nasdaq-100® Technology Sector IndexSM, each with a $1,000 principal amount. The Notes pay a contingent coupon at an annual rate of 9.30% only when all three indices close at or above their coupon barriers, with missed coupons potentially paid later under the memory feature. The Notes are automatically called if, on a monthly observation date after 12 months, all indices are at or above their call thresholds, returning principal plus due and unpaid coupons. If the Notes are not called and any index finishes below its downside threshold at maturity, investors receive less than principal in proportion to the worst index’s decline, and could lose their entire investment. The estimated initial value is expected between $942.70 and $972.70 per Note, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Meta Platforms common stock, maturing December 20, 2027. These unsecured debt notes can pay periodic contingent coupons, but only when Meta’s closing price on an observation date is at or above a preset coupon barrier. If Meta closes at or above the initial level on any observation date before maturity, the notes are automatically called and investors receive the $10 principal per Note plus the applicable contingent coupon, with no further payments.
If the notes are not called early and Meta’s final level on the December 16, 2027 valuation date is at or above the downside threshold, investors receive back the $10 principal per Note, plus any final contingent coupon if the coupon barrier is met. If the final level is below the downside threshold, repayment is reduced in line with Meta’s percentage decline, and investors can lose all of their initial investment. A hypothetical structure uses a 10.42% per annum contingent coupon (about $0.2605 per period) with both the downside threshold and coupon barrier at 70% of the initial level. All payments depend on UBS’s credit and the notes will not be listed on an exchange.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of YPF Sociedad Anónima, maturing on December 20, 2027. These $10-denomination notes pay a contingent coupon only if the YPF ADR closes at or above a preset coupon barrier on each observation date. If, on any observation date before maturity, the ADR closes at or above the initial level, the notes are automatically called and investors receive the $10 principal per note plus any due contingent coupon, with no further payments.
If the notes are not called and the final ADR level on the December 16, 2027 valuation date is at or above the downside threshold, investors receive their $10 principal back at maturity, potentially with a final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with the ADR’s percentage decline, and investors can lose some or all of their investment. The estimated initial value is $9.27 per $10 note, the minimum investment is 100 notes ($1,000), the notes will not be listed on any exchange, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of YPF Sociedad Anónima, maturing on or about December 20, 2027. These unsecured, unsubordinated debt notes pay a contingent coupon only if the underlying ADR closes at or above a specified coupon barrier on an observation date; otherwise no coupon is paid for that period.
The notes are automatically called early if, on any observation date before final valuation, the ADR’s closing level is at or above the initial level, in which case investors receive the principal amount plus any due coupon and no further payments. If not called, and on the final valuation date the ADR is at or above a downside threshold, investors receive the $10 principal per Note
Payments depend entirely on UBS’s creditworthiness. The notes will not be listed on any exchange, have a minimum investment of 100 Notes at $10 each, and an estimated initial value between $8.97 and $9.22 per Note based on UBS internal pricing models.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on or about December 18, 2026. These unsecured debt securities pay a contingent coupon only if Oracle’s closing share price on an observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The Notes may be automatically called before maturity if Oracle’s price on any observation date (other than the final one) is at or above the initial level, in which case investors receive the $10 principal per Note plus any due coupon and no further payments. If not called and Oracle’s final level is at or above the downside threshold, investors receive only principal at maturity. If the final level is below the downside threshold, the payout is $10 × (1 + underlying return), exposing investors to full downside market risk and possible total loss of principal.
The minimum investment is 100 Notes at $10 per Note$9.48 and $9.73. All payments depend on the creditworthiness of UBS, and the Notes are not bank deposits and are not insured by the FDIC or any other governmental agency.
UBS AG is offering $10,803,300 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on December 18, 2028. These unsecured debt notes can pay quarterly contingent coupons, but only when Marvell’s share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid.
The notes can be called early each quarter starting after six months if the stock closes 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 the stock is at or above a downside threshold at maturity, investors receive back principal (and possibly a final coupon). If the stock finishes below the downside threshold, repayment is reduced in line with the stock’s loss, and all principal can be lost. Payments also depend on UBS’s credit, with an estimated initial value of $9.70 per $10 note and a minimum purchase of 100 notes.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on or about December 18, 2028. These unsecured debt notes pay a contingent coupon only if the stock is at or above a preset coupon barrier on each quarterly observation date; otherwise no coupon is paid.
The notes are automatically called early if, on any observation date beginning after 6 months, the stock closes at or above its initial level, in which case investors receive their principal plus the applicable coupon and the product terminates. If the notes are not called and the final stock level on December 14, 2028 is at or above the downside threshold, investors receive full principal back; if it is below that level, repayment is reduced in line with the stock’s percentage loss and can fall to zero. Hypothetical examples illustrate a contingent coupon rate of 13.68% per annum, a 50% downside threshold and a 60% coupon barrier. The minimum investment is 100 Notes at $10 each, and the estimated initial value is expected to be between $9.31 and $9.56 per Note. All payments depend on UBS’s credit and the notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Petróleo Brasileiro S.A., maturing on December 18, 2026. The Notes pay a contingent coupon only if the underlying ADR closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid. They are 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 no further payments. If the Notes are not called and the final ADR level is at or above a downside threshold, investors receive the full principal at maturity, but if it is below that threshold, repayment is reduced in line with the ADR’s decline and can fall to zero. The Notes are unsecured debt of UBS, sold at $10 per Note with a minimum investment of 100 Notes, and have an estimated initial value of $9.61, will not be listed on an exchange, and carry both market and issuer credit risk.