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 Advanced Micro Devices, Inc. These unsecured debt securities can pay a contingent coupon on each observation date, but only if AMD’s share price 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 AMD’s stock closes at or above the initial level on any observation date, in which case investors receive principal plus the applicable contingent coupon and the product terminates. If not called, and AMD’s final stock level is at or above a specified downside threshold, investors receive full principal at maturity, potentially with a final coupon.
If the notes are not called and AMD’s final stock level is below the downside threshold, repayment is reduced in line with the stock’s negative return, and investors can lose all of their initial investment. All payments depend on UBS’s ability to meet its obligations, and the estimated initial value per $10 note is $9.75. The minimum investment is 100 notes, or $1,000.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on December 20, 2027. Each Note has a principal amount of $10 and pays a contingent coupon only if Amazon’s closing level on each observation date is at or above the coupon barrier; otherwise no coupon is paid for that period.
The Notes are automatically called early if Amazon’s closing level on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and no further payments. If the Notes are not called and Amazon’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 stock’s decline and investors can lose all of their investment.
The minimum investment is 100 Notes (a $1,000 purchase). The estimated initial value is $9.75 per $10 Note, reflecting UBS’ internal pricing. All payments depend on the creditworthiness of UBS, 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 or about December 18, 2026. These unsecured debt obligations pay a contingent coupon only when the underlying ADRs close at or above a specified coupon barrier on each observation date.
The Notes may be automatically called early if, on any observation date before maturity, the underlying closes at or above its initial level. 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, on the final valuation date, the underlying is at or above the downside threshold, investors receive full principal at maturity, plus any final contingent coupon if the coupon barrier is also met.
If the Notes are not called and the final level is below the downside threshold, repayment of principal is reduced in line with the negative return of the underlying, and investors could lose their entire initial investment. Any payment, including contingent coupons and principal, depends on the creditworthiness of UBS. The Notes are not bank deposits, are not insured by any governmental agency, and will not be listed on any securities exchange.
UBS AG is offering $1,517,000 of Trigger Autocallable Contingent Yield Notes linked to Pinterest, Inc. stock, maturing December 20, 2027. These unsecured debt notes pay a contingent coupon only if Pinterest’s closing share price on a quarterly observation date (including the final valuation date) is at or above a coupon barrier; otherwise no coupon is paid.
The notes can be called early each quarter starting about six months after the December 16, 2025 trade date if Pinterest’s price is at or above the initial level, in which case holders receive the $10 principal per note plus any due coupon and the notes terminate. If the notes are not called and Pinterest’s final level is at or above the downside threshold, principal is repaid at maturity; if it is below, repayment is reduced in line with the share price decline and can fall to zero.
Illustrative terms include a 14.94% per annum contingent coupon (about $0.3735 per quarter on a $10 note), a downside threshold and coupon barrier at 60% of the initial level, and an estimated initial value of $9.70 per $10 note. All payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on December 20, 2027. These unsecured debt obligations can pay periodic contingent coupons, but only if NVIDIA’s closing share price on each observation date is at or above a preset coupon barrier.
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 the principal plus any due coupon and no further payments. If the Notes are not called and NVIDIA’s final share price is at or above the downside threshold, investors receive their principal back, potentially with a final coupon. If the final share price is below the downside threshold, repayment is reduced in line with the share price decline, and investors could lose their entire investment. All payments depend on UBS’s credit, and the Notes are not listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on or about December 20, 2027. These unsecured debt notes pay a contingent coupon only if AMD’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 AMD’s price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal per Note plus any due coupon, and the product ends.
If the notes are not called and AMD’s final share price on the valuation date is at or above a downside threshold, investors receive back the $10 principal per Note at maturity. If AMD finishes below the downside threshold, repayment is reduced in line with AMD’s percentage loss, and investors can lose all of their investment. Any payment depends on the creditworthiness of UBS. The minimum investment is 100 Notes at $10 each, and the estimated initial value is expected between $9.45 and $9.70 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., scheduled to mature on or about December 20, 2027. These are unsecured, unsubordinated debt obligations of UBS, not bank deposits and not FDIC insured.
Investors receive a contingent coupon on each observation date only if Amazon’s closing share price is at or above a preset coupon barrier. The Notes are automatically called early if, on any observation date before maturity, the share price is at or above the initial level; in that case, investors receive their principal plus the applicable contingent coupon, and the Notes terminate.
If the Notes are not called and Amazon’s final share price is at or above a downside threshold, investors receive their full principal at maturity. If the final price is below this threshold, repayment is reduced in proportion to Amazon’s decline, and the entire investment can be lost. The Notes are issued in $10 denominations, with a minimum investment of 100 Notes ($1,000). The estimated initial value per Note on the trade date is expected to be between $9.45 and $9.70, and the Notes will not be listed on any exchange.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company, maturing on December 18, 2028. These unsecured debt notes may pay a contingent coupon only if Eli Lilly’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 can be called early if Eli Lilly’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the principal plus the applicable contingent coupon and no further payments. If the notes are not called and the final stock level is at or above the downside threshold, investors receive full principal back, with 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 percentage decline, and investors could lose all of their initial investment. Payments, including principal, depend on UBS’s credit, and the notes are not listed on any exchange. The estimated initial value is $9.69 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Pinterest, Inc., maturing on or about December 20, 2027. These are unsecured, unsubordinated debt obligations of UBS with principal at risk.
Investors may receive quarterly contingent coupons only if Pinterest’s closing share price on an observation date is at or above a specified coupon barrier. The notes are automatically called early if, on any observation date beginning after six months, the stock closes at or above its initial level; in that case, investors receive the 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 per Note at maturity, plus any final contingent coupon if the barrier is met. If the final level is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their initial investment. The minimum investment is 100 Notes at $10 each. The estimated initial value is expected between $9.32 and $9.57 per Note, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company, maturing on or about December 18, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes, and the estimated initial value is expected to be between $9.34 and $9.59 per Note.
Investors receive a contingent coupon only if Eli Lilly’s share price on an observation date is at or above a defined coupon barrier; otherwise no coupon is paid for that period. The Notes are automatically called 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 share price is at or above a downside threshold, holders receive full principal back at maturity, with any final coupon if the coupon barrier is met. If the final price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose all of their principal. 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 the common stock of First Solar, Inc., maturing on or about December 18, 2026. These unsecured debt notes pay a contingent coupon only if First Solar’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if First Solar’s share price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus any due coupon and the notes terminate. If the notes are not called and the final share price is at or above the downside threshold, investors receive their principal at maturity; if it is below the downside threshold, repayment is reduced in line with the stock’s percentage loss and can fall to zero.
The notes are subject to UBS’s credit risk, will not be listed on any exchange, and are offered in minimum denominations of 100 notes at $10 per note. The estimated initial value on the trade date is expected to be between $9.47 and $9.72 per note, reflecting UBS’s internal pricing models and funding rate.
UBS AG is offering $291,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on December 20, 2027. The Notes pay a contingent coupon only if CrowdStrike’s closing share price on each observation date is at or above a specified coupon barrier; otherwise, no coupon is paid for that period.
The Notes are automatically called early if the share price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal per Note plus any due coupon and no further payments. If the Notes are not called and CrowdStrike’s final share price is at or above the downside threshold (55.00% of the initial level in the hypothetical examples), investors receive full principal back, plus any final coupon if the barrier is met.
If the Notes are not called and the final share price 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. The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.80 per Note. All payments depend on the creditworthiness of UBS AG.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on December 18, 2028. These unsecured debt notes pay a contingent coupon only when 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 can be automatically called early if Oracle’s price on an observation date (before final valuation) is at or above the initial level, in which case investors receive the $10 principal per Note plus any due coupon and no further payments. If the notes are not called and Oracle’s final level is at or above the downside threshold, principal is repaid in full; if it is below the downside threshold, repayment is reduced in line with the stock’s percentage decline, up to a total loss of principal. An example structure shows a 12.17% per annum contingent coupon and a downside threshold and coupon barrier each at 50% of the initial level. Any payments depend on UBS’s creditworthiness, and the notes are not listed on an exchange.
UBS AG is offering $120,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on December 20, 2027. These unsecured debt notes pay contingent coupons only if Micron’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 Micron’s stock is at or above the initial level on any observation date before maturity, returning principal plus the applicable coupon, with no further payments. If not called, and Micron’s final stock level is at or above the downside threshold at maturity, investors receive their principal back, potentially with a final coupon. If the final level is below the downside threshold, repayment is reduced in line with Micron’s percentage decline and investors can lose all of their investment.
All payments depend on UBS’s credit. The notes are not FDIC insured, will not be listed on an exchange, have a minimum investment of 100 notes at $10 each, and an estimated initial value of $9.74 per note.
UBS AG plans to issue Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on or about December 20, 2027. Each Note has a principal amount of $10, with a minimum investment of 100 Notes, or $1,000.
These Notes pay a contingent coupon only if, on an observation date, the CrowdStrike share price is at or above a preset coupon barrier. UBS will automatically call the Notes early if the share price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal plus any due coupon and no further payments.
If the Notes are not called and the final share price is at or above the downside threshold, investors receive their $10 principal back (plus any final coupon if the barrier is met). If the final share price is below the downside threshold, repayment is reduced in line with the stock’s decline and can fall to $0, meaning a total loss. All payments depend on UBS’s creditworthiness. The estimated initial value per $10 Note is expected to be between $9.44 and $9.69.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, expected to mature on or about December 18, 2028. These unsecured debt obligations may pay contingent coupons only if Oracle’s share price on each observation date is at or above a specified coupon barrier; otherwise, no coupon is paid for that period.
The notes are automatically called early if Oracle’s share price on any observation date before maturity is at or above the initial level. In that case, investors receive the principal plus any due contingent coupon, and no further payments. If the notes are not called and Oracle’s final level is at or above the downside threshold, investors receive only the principal at maturity. If the final level is below the downside threshold, repayment is reduced in line with Oracle’s percentage decline, and investors could lose their entire investment.
The notes are subject to UBS’s credit risk, will not be listed on any exchange, and have an estimated initial value expected between $9.36 and $9.61 per $10 note. The minimum initial investment is 100 notes, or $1,000, with expected T+2 settlement at issuance.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about December 20, 2027. These unsecured debt notes can pay a contingent coupon on each observation date only if Micron’s share price is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if Micron’s share price on any observation date before maturity is at or above the initial level, in which case holders receive the principal plus any due coupon and no further payments. If the notes are not called and Micron’s final level is at or above a downside threshold, investors receive only their principal back at maturity. If the final level is below the downside threshold, repayment is reduced in line with Micron’s decline and investors can lose all of their investment.
The minimum investment is 100 notes at $10 each. The estimated initial value per note on the trade date is expected to be between $9.42 and $9.67, reflecting UBS’s internal pricing and funding costs. All payments depend on UBS’s creditworthiness, and the notes will not be listed on any exchange.
UBS AG is offering $320,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on December 18, 2026. The Notes pay a contingent coupon only if, on each observation date, Micron’s share price is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The Notes will be automatically called early if Micron’s stock closes at or above the initial level on any observation date before the final valuation date, in which case investors receive the $10 principal per Note plus any due coupon, and the Notes terminate. If the Notes are not called and Micron’s final level is at or above the 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 the stock’s decline and investors can lose all of their investment.
The Notes are unsecured obligations of UBS, are not insured, will not be listed on any exchange, require a minimum $1,000 investment at $10 per Note, and have an estimated initial value of $9.81 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Alibaba ADRs, maturing on December 20, 2027. These unsecured notes pay a contingent coupon only when the Alibaba ADR closing level on an observation date is at or above a coupon barrier set at 70.00% of the initial level. The notes can be automatically called early if the ADR closes at or above the initial level on any observation date before maturity; in that case, holders receive the $10 principal per Note plus the applicable contingent coupon and no further payments.
If the notes are not called and the final level on December 16, 2027 is at or above the downside threshold (also 70.00% of the initial level), UBS repays 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 to $10 times 1 plus the underlying return, creating full downside exposure to the ADR and the possibility of a total loss. The illustrative contingent coupon rate is 10.30% per annum, paid quarterly when conditions are met. The notes are not listed, are subject to UBS credit risk, require a minimum purchase of 100 Notes at $10 each, and have an estimated initial value of $9.68 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about December 18, 2026. These are unsecured, unsubordinated debt obligations that depend both on Micron’s share performance and the creditworthiness of UBS.
The Notes may pay a contingent coupon on scheduled dates, but only if Micron’s share price is at or above a preset coupon barrier on the related observation date. The Notes are automatically called early if Micron’s share price is at or above the initial level on any observation date before maturity, in which case holders receive the principal plus any due coupon and no further payments.
If the Notes are not called and Micron’s final share price is at or above a downside threshold, investors receive the full $10 principal per Note at maturity. If the final share price is below that threshold, repayment is reduced in line with Micron’s negative return, and all principal can be lost. The estimated initial value is expected to range from $9.45 to $9.70 per $10 Note, reflecting UBS internal pricing.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Alibaba Group Holding Limited, maturing on or about December 20, 2027. These unsecured debt securities pay a contingent coupon only if the Alibaba ADR closes at or above a set coupon barrier on an observation date; otherwise no coupon is paid for that period.
The Notes are automatically called if on any observation date before maturity the ADR closes at or above the initial level, in which case investors receive the $10 principal per Note plus the applicable contingent coupon and the product terminates early. If not called and the final level is at or above the downside threshold, investors receive principal back (and any final contingent coupon). If the final level is below the downside threshold, repayment is reduced in line with the ADR’s decline, and investors can lose their entire investment.
The minimum investment is 100 Notes at $10 each, and a hypothetical example uses a 9.18% per annum contingent coupon rate. The estimated initial value per Note is expected to be between $9.38 and $9.63. 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 with Memory Interest linked to Tesla, Inc. common stock, with a principal amount of $1,000 per Note and a term of about 18 months, maturing on or about July 6, 2027. The Notes pay a contingent coupon at an annual rate between 18.50% and 20.50%, credited monthly only if Tesla’s closing price on each observation date is at or above a coupon barrier set at 70% of the initial level. Missed coupons can be paid later if the barrier is met, under the memory feature.
The Notes are autocallable quarterly if Tesla closes at or above 100% of the initial level on a call observation date, returning principal plus due and unpaid coupons. If not called and the final Tesla level is at or above the 70% downside threshold, investors receive their principal back; if it is below 70%, they receive Tesla shares worth $1,000 divided by the initial level, exposing them to stock losses that can result in a significant or total loss of principal.
The estimated initial value is expected between $935.70 and $965.70, below the $1,000 issue price. The Notes are unsecured UBS debt, not listed on any exchange, involve liquidity, credit, market and complex tax risks, and pay no Tesla dividends.
UBS AG is offering $6,683,000 of Contingent Income Auto-Callable Securities due December 15, 2028, linked to the common stock of Bank of America Corporation. Each $1,000 security can pay a quarterly contingent coupon of $27.50 (11.00% per annum) if on the relevant determination date BAC’s closing price is at or above the downside threshold of $44.11, which is 80.00% of the $55.14 initial price.
If on any determination date (other than the final one) the BAC share price is at or above the call threshold of $55.14, the notes are automatically redeemed for $1,000 plus the coupon. If the notes are not called and BAC’s final price is at or above the downside threshold, investors receive $1,000 plus the final coupon at maturity.
If the final BAC price is below the downside threshold, UBS will pay a cash value based on BAC’s final price and investors will lose a significant portion, up to all, of their principal. The securities pay no dividends on BAC, may have limited or no secondary market, and all payments depend on the credit of UBS AG.
UBS AG plans to issue three-year Trigger Callable Contingent Yield Notes linked to the worst performer among the Dow Jones Industrial Average, Nasdaq-100 Technology Sector Index and Russell 2000 Index. Each $1,000 Note pays a 12.25% per annum contingent coupon, credited quarterly only if all three indexes are at or above 75% of their initial level on the observation date. If any index is below its coupon barrier, that quarter’s coupon is skipped.
UBS may call the Notes in whole on any quarterly observation date (except 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 three indexes are at or above 70% of their initial level, investors receive full principal back, plus the final contingent coupon if all barriers are met. If any index finishes below its downside threshold, repayment is reduced one-for-one with the loss on the worst index, and investors can lose some or all of their principal.
The Notes are unsecured, unsubordinated UBS debt, not deposits, and are not FDIC insured. Estimated initial value is between $957.40 and $987.40 per $1,000 Note, reflecting dealer discounts, hedging and issuance costs, and there may be limited or no secondary market liquidity.
UBS AG is offering $178,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average® and the Russell 2000® Index, maturing December 20, 2028. Each $1,000 Note pays a monthly contingent coupon of $6.9583 (8.35% per annum) only if both indices are at or above their coupon barriers, set at 70% of initial levels (33,891.59 for the Dow, 1,771.467 for the Russell 2000). UBS may call the Notes in whole on any monthly observation date beginning after six months, returning principal plus any due coupon, ending future payments.
If the Notes are not called and the final level of any index is below its downside threshold (also 70% of initial), repayment is reduced dollar-for-dollar with the loss on the worst index, and investors can lose all principal. The Notes are unsecured obligations exposed to UBS credit risk, are not listed, and carry an estimated initial value of $969.10 per $1,000, below the issue price.
UBS AG is offering $2,000,000 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 20, 2027. The Notes pay a 10.55% per annum contingent coupon (about $8.79 per $1,000 monthly) only if, on each observation date, both indices close at or above their coupon barriers, set at 75% of initial levels. 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 not called and either index finishes below its downside threshold (70% of its initial level), investors take a loss equal to the index’s decline, up to a total loss of principal. All payments depend on UBS’s credit, and the estimated initial value is $979.00 per $1,000, below the issue price, reflecting fees and hedging costs.
UBS AG is offering $350,000 of Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. stock, maturing December 16, 2027. These unsecured notes can pay a high contingent coupon, with an example rate of 18.39% per annum, but only if Marvell’s share price on each observation date is at or above a preset coupon barrier, set in the example at 60% of the initial level. 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.
If the notes are not called and Marvell’s share price on the final valuation date is at or above the downside threshold, investors receive full principal back, potentially with a final coupon. If it is below the downside threshold, repayment is reduced in line with the share price decline, and investors can lose all of their initial investment. All payments depend on UBS’s creditworthiness, and the notes are not listed on any exchange. The estimated initial value is $9.71 per $10 note, reflecting UBS’ internal pricing models.
UBS AG is offering $322,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on December 16, 2027.
The Notes pay a contingent coupon only if Marvell’s share price on an observation date is at or above a specified coupon barrier; otherwise no coupon is paid. UBS will automatically call the Notes early if the share price on any observation date before maturity is at or above the initial level, returning principal plus any due coupon, with no further payments.
If the Notes are not called and the final share level is at or above the downside threshold, investors receive full principal at maturity; if it is below, repayment is reduced in line with the stock’s decline and can fall to zero. An example uses a 18.20% per annum contingent coupon rate and a downside threshold and coupon barrier set at 60% of the initial level. The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.71 per $10 Note. All payments depend on UBS’s credit, and the Notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the SPDR® S&P® Regional Banking ETF (KRE), maturing on or about January 3, 2028. Each Note has a $1,000 principal amount and pays a contingent coupon at 8.55% per annum, in monthly installments of $7.125, but only when KRE’s closing level on an observation date is at or above the coupon barrier, set at 75% of the initial level.
The Notes may be automatically called after 3 months if KRE closes at or above the call threshold of 100% of the initial level on any observation date. In that case, investors receive principal plus the applicable contingent coupon and the Notes terminate. If not called, and KRE’s final level on the valuation date is at or above the downside threshold of 75% of the initial level, UBS repays the full principal (plus a final contingent coupon if the barrier is met.
If the Notes are not called and KRE’s final level is below the downside threshold, investors suffer a loss equal to KRE’s percentage decline, with the potential to lose all principal. The Notes are unsecured, unsubordinated obligations of UBS AG London Branch, not bank deposits and not FDIC insured. They will not be listed, and UBS expects the initial fair value to be only $938.50–$968.50 per $1,000 due to dealer discounts, hedging and internal funding costs.
UBS AG is offering Trigger Autocallable Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, with a principal amount of $1,000 per Note and a term of approximately five years, subject to early automatic call.
The Notes automatically call, and pay a cash amount equal to principal plus a call return, if on any semiannual observation date each index is at or above its call threshold level, set as a percentage of its initial level. The call return rate is 9.25% per annum, producing call prices from $1,092.50 after year one up to $1,462.50 at maturity if called on the final valuation date.
If the Notes are not called and each index finishes at or above its downside threshold of 70.00% of its initial level, investors receive only the $1,000 principal. If any index closes below its downside threshold, repayment is reduced in line with the negative return of the worst-performing index and can fall to zero. The estimated initial value ranges from $922.50 to $952.50 per Note, and all payments depend on the creditworthiness of UBS. The Notes pay no interest, are not listed on an exchange and offer no dividends or voting rights.
UBS AG is offering $2,017,000 in Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing December 20, 2028. Each $1,000 Note pays a contingent coupon at 7.88% per annum (about $19.70 per quarter) only if, on an observation date, both indices close at or above their coupon barriers set at 75% of initial levels (1,898.000 for RTY and 5,112.38 for SPX). The Notes can be automatically called quarterly after six months if both indices are at or above their call thresholds, set at 100% of initial levels, returning principal plus any due coupon. If not called and any index finishes below its downside threshold (also 75% of initial), investors suffer a loss matching the decline of the worst index and can lose their entire investment. The estimated initial value is $955.90 per $1,000 Note, there is no exchange listing, coupons are not guaranteed, and all payments depend on UBS’s credit.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Dow Jones Industrial Average®, Russell 2000® Index and Nasdaq-100® Technology Sector IndexSM, maturing on or about January 7, 2032. The Notes pay a contingent coupon at a rate of 9.00% per annum only if, on a monthly observation date, each index closes at or above its coupon barrier, set at 80.00% of its initial level, with unpaid coupons potentially paid later via the memory feature.
The Notes may be automatically called after 12 months if each index is at or above its call threshold level, set at 100.00% of its initial level, in which case investors receive principal plus due and unpaid coupons and no further payments. If the Notes are not called and any index finishes below its downside threshold, set at 60.00% of its initial level, investors receive less than the $1,000 principal per Note, potentially losing their entire investment.
The Notes are unsubordinated, unsecured debt obligations of UBS, with an issue price of $1,000 per Note, an underwriting discount of $3.00 and proceeds to UBS of $997.00 per Note. The estimated initial value is expected to be between $940.90 and $970.90. The Notes will not be listed, and any payment depends on UBS’ creditworthiness.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the worst performer of four references: the Nasdaq-100® Technology Sector Index, the Russell 2000® Index, the Energy Select Sector SPDR® Fund and the Technology Select Sector SPDR® Fund. Each $1,000 note pays a 12.10% per annum contingent coupon, with monthly payments of $10.0833 only when all four underlyings close at or above 70% of their initial level.
The notes run to about December 29, 2028 and can be redeemed early at UBS’s option on monthly observation dates after three months, at par plus any due coupon. If they are not called and any underlying finishes below 60% of its initial level, the maturity payment falls in line with the worst performer and can drop to zero, so investors may lose all principal and receive no coupons. The notes are unsecured obligations of UBS, not FDIC‑insured or exchange‑listed, and their estimated initial value is between $949 and $979 per $1,000 note, reflecting embedded fees and hedging costs.
UBS AG is offering $228,000 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 20, 2028. The Notes pay a 9.05% per annum contingent coupon, calculated and payable monthly, but only if on each observation date both indices close at or above their coupon barriers, set at 70% of initial levels (1,771.467 for the Russell 2000 and 4,771.56 for the S&P 500). UBS may call the Notes in whole, beginning after six months, paying principal plus any due coupon; after a call, no further payments are made. If the Notes are not called and either index finishes below its downside threshold (also 70% of its initial level), repayment at maturity is reduced one-for-one with the negative return of the worst-performing index and can fall to zero, causing a total loss of principal. The Notes are unsecured obligations of UBS, are not insured, are not exchange-listed, and have an estimated initial value of $969.30 per $1,000 Note, below the issue price.
UBS AG is offering Buffer In-Digital Securities linked to the S&P 500® Index, maturing January 21, 2027. Each Security has a $1,000 principal amount and provides a fixed digital return of 7.70% at maturity if the index’s final level is at or above a digital barrier set at 85.00% of the initial level (5,794.03 vs. 6,816.51 initial).
If the S&P 500® closes below this downside threshold on the final valuation date, repayment is reduced: investors lose principal based on the index decline beyond a 15.00% buffer, and in extreme cases could lose almost all of their investment. The Securities pay no interest, do not provide dividends or voting rights, and must be held to maturity to receive the digital return.
The Securities are unsubordinated, unsecured debt of UBS AG London Branch, exposed to UBS credit risk, will not be listed on an exchange, and may have limited or no secondary market. The estimated initial value per Security is expected to be between $965.50 and $995.50, below the $1,000 issue price, reflecting underwriting discounts, hedging and issuance costs.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index, the Energy Select Sector SPDR® Fund and the Technology Select Sector SPDR® Fund. The Notes have a term of approximately three years and pay a 13.75% per annum contingent coupon on monthly dates only if the closing level of each underlying asset is at or above its coupon barrier, set at 70% of its initial level.
UBS may call the Notes, in whole, on any observation date beginning after three months, paying principal plus any due coupon; no further payments are then made. If the Notes are not called and, at maturity, every underlying is at or above its downside threshold (also 70% of its initial level), investors receive full principal back, plus any final coupon. If any underlying finishes below its downside threshold, the repayment is reduced in line with the negative return of the worst performer, up to a total loss of principal. The Notes are unsecured, unsubordinated obligations of UBS, not listed on any exchange, and their estimated initial value is between $950.60 and $980.60 per $1,000 issue price.
UBS AG is offering Trigger Autocallable Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on December 20, 2027. Each Note has a $1,000 principal amount and pays a fixed coupon at 11.15% per annum, with monthly payments as long as the Notes remain outstanding.
The Notes can be automatically called any month after 12 months if Constellation’s stock closes at or above the call threshold, set at 100% of the initial level ($357.14). If called, investors receive $1,000 plus the coupon for that month and no further payments. If the Notes are not called and the final stock level on the valuation date is at or above the downside threshold of 55% of the initial level ($196.43), investors receive their full principal at maturity, plus the last coupon.
If the final stock level is below the downside threshold, repayment is reduced one-for-one with the stock’s percentage decline, so investors can lose a significant portion or all of their investment. The Notes do not pay dividends or allow participation in stock gains beyond coupons, will not be listed on an exchange, and all payments depend on the creditworthiness of UBS. The estimated initial value per Note is expected to be between $949.10 and $979.10, below the $1,000 issue price.
UBS AG is offering Step Down Trigger Autocallable Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index, maturing on or about December 24, 2030. Each Note has a $1,000 principal amount and a call return rate of 9.00% per annum, paid only if the Notes are automatically called. UBS will automatically call the Notes on quarterly observation dates, beginning after 12 months, if the closing level of each index is at or above its call threshold level, which starts at 100% of its initial level and steps down over time to 75.00% on the final valuation date.
If called, holders receive the call price (principal plus the applicable call return) and no further payments. If the Notes are not automatically called and the final level of any index is below its downside threshold of 75.00% of its initial level, the maturity payment is $1,000 × (1 + underlying return of the least performing index), so losses match the percentage decline and can reach a 100% loss of principal. The estimated initial value is expected between $939.60 and $969.60 per Note, below the $1,000 issue price, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the worst performer of the S&P 500® Index and the Russell 2000® Index, maturing on or about June 27, 2029. Each Note has a $1,000 principal amount and pays a contingent coupon at a rate of 7.75% per annum only if, on a monthly observation date, both indices close at or above their coupon barriers, set at 70% of initial level.
The Notes can be automatically called monthly beginning after 9 months if both indices are at or above their call thresholds, set at 100% of initial level, in which case holders receive principal plus the applicable coupon and the product terminates. If not called and both final index levels are at or above their downside thresholds of 60% of initial level, investors receive principal back (with a final coupon only if barriers are met). If any index finishes below its downside threshold, repayment is reduced one-for-one with the worst index’s decline, and all principal can be lost.
The Notes are unsecured, unsubordinated UBS debt, not insured deposits, and all payments depend on UBS’s credit. They are not listed, secondary liquidity may be limited, and the estimated initial value on the trade date is expected between $955.50 and $985.50 per Note versus a $1,000 issue price, reflecting fees, hedging and UBS’s internal funding rate.
UBS AG is offering $1,195,000 of three-year Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Regeneron Pharmaceuticals, Inc. Each Note has a $1,000 principal amount and offers a contingent coupon at a rate of 10.25% per annum ($25.625 per quarter) if Regeneron’s share price on a quarterly observation date is at or above the coupon barrier of $489.20, which is 65% of the $752.62 initial level.
The Notes can be automatically called quarterly starting about six months after issuance if Regeneron closes at or above the call threshold of $752.62 (100% of the initial level), in which case investors receive principal plus any due and previously unpaid coupons and the Notes terminate. If not called and the final share price on December 15, 2028 is at or above the $489.20 downside threshold, investors receive full principal; if it is below, repayment is reduced one-for-one with the share’s decline, and all principal can be lost. Payments depend entirely on UBS’s credit; the Notes are unsecured, not insured, and have an estimated initial value of $968.80 per $1,000.
UBS AG is offering Capped Buffer GEARS, unsecured debt securities linked to the iShares MSCI EAFE ETF, maturing around December 21, 2028. Each Security has a $1,000 principal amount, offers 1.50x leveraged exposure to any positive ETF performance, but gains are capped at a 38.30% maximum gain, for a maximum payment of $1,383 per Security.
If the ETF is flat or down but not below 85% of its initial level at maturity, investors receive their full principal back. If the ETF falls below this downside threshold, losses exceed the 15% buffer and can reach almost the entire investment. The notes pay no interest, do not pass through ETF dividends, are not listed on an exchange, and all payments depend on the creditworthiness of UBS.
UBS AG is issuing $3,075,000 of Trigger Callable Yield Notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing on March 17, 2027. Each Note has a $10 principal amount and pays fixed monthly coupons at a 7.90% per annum rate, regardless of index performance, as long as the Note has not been called.
UBS may, at its discretion, call the Notes in whole on monthly call dates beginning after three months, paying back $10 per Note plus the applicable coupon; no further payments are then made. If the Notes are not called and on the final valuation date both indices are at or above their downside thresholds, set at 70% of their initial levels, investors receive full principal plus the final coupon. If either index finishes below its threshold, repayment of principal is reduced one‑for‑one with the negative return of the worst index, and investors can lose up to 100% of principal.
The Notes are unsecured, unsubordinated obligations of UBS AG, are not FDIC‑insured, and will not be listed on any exchange. The estimated initial value is $9.80 per $10 Note, reflecting fees, hedging and UBS’ internal funding rate, so secondary market prices may initially be below the issue price.
UBS AG is offering $100,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc., scheduled to mature on December 17, 2027. These notes pay a contingent coupon only on dates when Palantir’s closing price is at or above a specified coupon barrier; if the price is below that level on an observation date, no coupon is paid for that period.
The notes are automatically called 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 per note plus any due coupon and no further payments. If the notes are not called and the final stock level is at or above a downside threshold, investors receive principal back; if it is below that threshold, the payoff falls in line with the stock’s decline and can drop to zero, resulting in a total loss of the investment. All payments depend on UBS’s creditworthiness, and the estimated initial value as of the trade date is $9.78.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. common stock, maturing around December 17, 2027. These unsecured notes pay a contingent coupon only if Palantir’s closing price on an observation date is at or above a specified coupon barrier, and they may be automatically called early if the stock closes at or above the initial level.
If the notes are not called and Palantir’s final level is at or above a downside threshold, investors receive the $10 principal per note at maturity; if it finishes below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero, so investors can lose their entire investment.
The notes are subject to UBS credit risk, are not bank deposits or FDIC insured, will not be listed on an exchange, and are initially offered at $10 per note with a minimum investment of 100 notes; the estimated initial value per note on the trade date is expected to be between $9.47 and $9.72.
UBS AG is offering $350,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock, maturing on December 17, 2027. The notes pay contingent coupons only if Micron’s closing price on each observation date is at or above a coupon barrier, and they can be called early if the stock is at or above its initial level, returning principal plus any due coupon. If the notes are not called and Micron’s final level is at or above a downside threshold, investors receive the $10 principal per note; if it finishes below that 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 notes are not insured or exchange-listed, the minimum investment is 100 notes ($1,000), and the estimated initial value is $9.78 per $10 note as of the trade date.
UBS AG is offering $340,000 of Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock, maturing on December 17, 2027.
The notes pay contingent coupons only if Oracle’s closing price on an observation date is at or above a coupon barrier, and they are automatically called early if Oracle is at or above the initial level, returning principal plus that coupon.
If not called, investors receive principal at maturity only if Oracle is at or above a downside threshold; otherwise the payoff declines in line with Oracle, and all of the $10 per note principal can be lost. The minimum investment is 100 notes and the estimated initial value is $9.76 per note, with all payments subject to UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. These are unsecured debt securities that can pay periodic contingent coupons, but only if Micron’s share price on each observation date is at or above a preset coupon barrier. The notes may be automatically called early if Micron’s stock closes at or above its initial level on an observation date, in which case holders receive their principal plus any due coupon and the product ends.
If the notes are not called and Micron’s stock on the final valuation date is at or above a defined downside threshold, investors receive back the full principal at maturity, plus any final contingent coupon if the barrier is met. If the final stock level is below the downside threshold, repayment is reduced in line with Micron’s decline, and investors can lose all of their initial investment. Any payment depends on UBS’s creditworthiness. The notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, have a minimum purchase of 100 notes at $10 each, and their estimated initial value is expected to be between $9.41 and $9.66 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, maturing on or about December 17, 2027. These unsecured, unsubordinated debt securities pay a contingent coupon only on dates when Oracle’s closing share price is at or above a coupon barrier.
The notes can be automatically called before maturity if Oracle’s price on an observation date is at or above the initial level, in which case investors receive the $10 principal per note plus any due coupon and the investment ends. If the notes are not called and the final share price is at or above a downside threshold, investors receive their principal back. If the final price is below that threshold, repayment is reduced in line with Oracle’s decline, and investors can lose some or all of their initial investment.
The minimum investment is 100 notes at $10 each, and the estimated initial value per note on the trade date is expected to be between $9.40 and $9.65. All payments depend on UBS’s creditworthiness, the notes will not be listed on any exchange, and they are not bank deposits or FDIC insured.
UBS AG is offering $283,000 of Trigger Autocallable Contingent Yield Notes linked to Lyft, Inc. common stock, maturing December 17, 2026. The notes pay a contingent coupon only on dates when the Lyft share price is at or above a preset coupon barrier, and may be automatically called early if the share price is at or above the initial level on any observation date. If called, investors receive the $10 principal per note plus any due coupon, and the product then terminates.
If the notes are not called and Lyft’s price on the final valuation date is at or above a downside threshold, investors receive the $10 principal per note, and a final coupon if the barrier is also met. If the final price is below the downside threshold, repayment is reduced in line with Lyft’s decline and can fall to zero, meaning a complete loss of principal. All payments are unsecured obligations of UBS, the notes are not bank deposits or FDIC insured, will not be listed on an exchange, require a minimum investment of 100 notes at $10, and have an estimated initial value of $9.67 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lyft, Inc., expected to mature on December 17, 2026 after a final valuation date on December 15, 2026.
The notes pay a contingent coupon only if Lyft’s closing share price on an observation date is at or above a coupon barrier, and they are automatically called early if the share price on any observation date before the final valuation date is at or above the initial level, returning principal plus the due coupon.
If the notes are not called and Lyft’s final share price is at or above a downside threshold, investors receive the $10 principal per note, but if it is below that threshold repayment is reduced in line with Lyft’s negative return and can fall to zero, so investors may lose all principal. All payments depend on the credit of UBS, the notes are not insured or exchange-listed, the minimum investment is 100 notes at $10 each, and the estimated initial value is expected to be between $9.32 and $9.57 per note.