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 Callable Yield Notes linked to the least performing of the Nasdaq-100 Index and the Russell 2000 Index, maturing on or about March 15, 2027. Each $10 note pays fixed monthly coupons at an annual rate expected between 8.20% and 8.70%, regardless of index performance, unless UBS calls the notes early.
UBS may, at its discretion, call the notes in whole on monthly dates starting after three months, paying back principal plus the applicable coupon and ending all future payments. If the notes are not called and, on the final valuation date, both indices are at or above 70% of their initial levels, investors receive full principal plus the final coupon. If any index closes below its 70% downside threshold, principal is reduced in line with the worst index’s loss, up to a complete loss of the $10 principal per note. The notes are unsubordinated, unsecured obligations of UBS AG London Branch, will not be listed on an exchange, have an estimated initial value of $9.484 to $9.784, and expose holders to UBS credit risk, market risk on both indices, reinvestment risk from issuer calls, and complex U.S. tax treatment.
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 10, 2027.
Investors receive a contingent coupon only on observation dates when the Alibaba ADR closes at or above a preset coupon barrier; otherwise no coupon is paid. The notes are automatically called early if the ADR closes at or above the initial level on an observation date, 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 the final ADR level is at or above the downside threshold, UBS repays the full principal; if it is below the threshold, repayment is reduced in line with the ADR’s decline and holders can lose their entire investment. The notes are unsecured, unsubordinated obligations of UBS, will not be listed on any exchange, are sold in minimums of 100 notes at $10 each, and have an estimated initial value between $9.44 and $9.69 per note.
UBS AG is offering $100,000 of unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Applied Materials, Inc., maturing December 10, 2027. The 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. UBS will automatically call the notes early if the stock closes at or above the initial level on any observation date before final valuation, returning principal plus any due coupon and ending the investment.
If the notes are not called and the stock’s final level is at or above a downside threshold, investors receive their principal back at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline and losses can reach 100% of principal. Payments depend on UBS’s credit, the notes are not insured or exchange‑listed, the minimum investment is 100 notes at $10 each, and the estimated initial value is $9.76 per $10 note.
UBS AG is offering $170,000 of Trigger Yield Notes linked to the common stock of Dell Technologies Inc., maturing on June 10, 2026. These unsubordinated, unsecured debt obligations pay a coupon on each coupon payment date regardless of how Dell’s share price performs.
At maturity, if Dell’s closing share price on the final valuation date is equal to or above a specified downside threshold, UBS will repay the full $10 principal amount per Note in addition to the final coupon. If the final share price is below that downside threshold, the cash payment per Note will be reduced in line with the percentage decline in Dell’s stock from the initial level, and you could lose some or all of your initial investment.
The Notes are subject to UBS’s credit risk, are not bank deposits, are not insured by the FDIC or any government agency, and will not be listed on any securities exchange. The minimum investment is 100 Notes at $10 per Note, and the estimated initial value is $9.76 per Note, reflecting internal pricing and funding costs.
UBS AG is offering $1,375,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on December 10, 2027. The notes pay a contingent coupon only on observation dates when AMD’s closing price is at or above a coupon barrier, and they are automatically called early if AMD closes at or above the initial level before maturity.
If the notes are not called and AMD is at or above the downside threshold on the final valuation date, investors receive the $10 principal per note, plus any due coupon. If AMD finishes below the downside threshold, the repayment is reduced in line with AMD’s percentage decline and all principal can be lost. Any payment depends on UBS’s creditworthiness, and the estimated initial value of each $10 note is $9.83, reflecting internal pricing models and funding costs.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing on or about December 10, 2027. These unsecured debt securities pay a contingent coupon only if AMD’s closing share price on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if AMD’s closing level on any observation date before the final valuation date 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 AMD’s final level on the valuation date is at or above a downside threshold, investors receive only their principal back; if it is below that threshold, repayment is reduced in line with AMD’s decline and can fall to zero.
The notes are not principal protected, are subject to the credit risk of UBS, and will not be listed on any securities 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 $9.45 and $9.70, reflecting internal pricing and fees.
UBS AG is offering $1,300,000 of Callable Contingent Interest Barrier Notes linked to the Russell 2000® and S&P 500® indices, maturing June 9, 2027. These unsecured senior notes pay a fixed contingent coupon of $7.3667 per $1,000 note on monthly dates only if, on the relevant observation date, the closing level of each index is at or above 65.00% of its initial level.
If UBS does not call the notes early and, on the final observation, both indices are at or above their 65.00% trigger levels, investors receive back the $1,000 principal per note (plus any final coupon if conditions are met. If any index finishes below its trigger, the maturity payment equals $1,000 × (1 + return of the worst-performing index), so losses match the percentage decline of the weaker index and can reach 100% of principal. UBS may call the notes in whole on any observation date (other than the final) and repay principal plus any due coupon. The notes are not listed, have limited liquidity, an estimated initial value of $982.00 per $1,000, and all payments depend on UBS’s credit.
UBS AG is offering $273,000 of Trigger Callable Contingent Yield Notes linked to the worst performer of the Nasdaq-100, Russell 2000 and S&P 500 indices, maturing on December 10, 2030. The notes pay a contingent coupon at a rate of 10.20% per annum, or $8.50 per $1,000 note per month, but only when the closing level of each index is at least 70% of its initial level on the relevant observation date.
UBS can call the notes in whole on any monthly observation date beginning after three months, paying back principal plus any due coupon, after which no further payments are made. If the notes are not called and any index finishes below its 70% downside threshold at maturity, investors suffer a loss equal to the negative return of the worst-performing index and can lose their entire investment. The notes are unsecured obligations of UBS, not listed on any exchange, and the estimated initial value is $964.40 per $1,000 note, below the issue price.
UBS AG is offering $1,154,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, maturing on June 10, 2027.
The notes pay a contingent coupon at a rate of 7.12% per annum, or $5.9333 per $1,000 note monthly, but only if on each observation date all three indices are at or above their coupon barriers, set at 70% of their initial levels. The notes are automatically called after six months or later if, on a monthly observation date, all indices are at or above their call thresholds, set at 100% of initial levels, in which case investors receive principal plus the applicable coupon.
If the notes are not called and, at maturity, any index is below its downside threshold (65% of its initial level), repayment of principal is reduced one-for-one with the decline of the worst-performing index, up to a total loss of principal. The estimated initial value is $963.20 per $1,000 note versus a $1,000 issue price. Payments depend on UBS’ credit, and the notes are not bank deposits and are not FDIC insured.
UBS AG, through its London Branch, is offering $661,000 of Capped Buffer GEARS, unsecured notes linked to the iShares MSCI Emerging Markets ETF and maturing on December 9, 2027. Each $1,000 Security provides 2.00x exposure to any positive ETF return, but gains are capped at a 25.80% maximum, for a maximum payment of $1,258.00 per Security.
If the ETF’s final level is at or above 90.00% of its $54.33 initial level (a $48.90 downside threshold), investors receive back principal; if it finishes below that threshold, repayment is reduced beyond the 10.00% buffer and losses can approach the full investment. The notes pay no interest, do not pass through ETF dividends, have an estimated initial value of $991.30 per $1,000, may have limited liquidity, and all payments depend on UBS’s creditworthiness.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to Intel Corporation common stock, due December 9, 2026. These unsecured, unsubordinated notes can pay contingent coupons only when Intel’s closing share price on an observation date is at or above a preset coupon barrier; if it is below that level, no coupon is paid for that period.
The notes are automatically called early if Intel’s share price on any observation date before maturity is at or above the initial level, in which case holders receive the $10 principal per Note plus any due contingent coupon and no further payments. If not called and the final share price on the December 7, 2026 final valuation date is at or above the downside threshold, investors receive principal back at maturity; if it is below the downside threshold, repayment is reduced in line with Intel’s percentage decline and can fall to zero.
The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.81 per Note. Any payment depends on UBS’s creditworthiness, and the notes are not listed on any exchange, so liquidity may be limited. The issuer highlights that these notes are significantly riskier than conventional debt securities and that investors may lose a significant portion or all of their initial investment.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, scheduled to mature on or about December 9, 2026. Each Note has a $10 principal amount, with a minimum investment of 100 Notes, and an estimated initial value between $9.45 and $9.70 per Note based on UBS’ internal models.
Investors receive contingent coupons only if Intel’s stock closes at or above a preset coupon barrier on each observation date. The Notes are automatically called early if the stock closes at or above the initial level on any observation date before maturity, paying back principal plus the applicable coupon and ending further payments. If not called, and the final stock level is at or above the downside threshold, investors receive principal back at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline, and all principal can be lost. All payments depend on UBS’ credit, and the Notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation. These unsecured debt securities pay contingent coupons only if the stock closes at or above a specified coupon barrier on scheduled observation dates. The notes can be called early if the stock closes at or above the initial level, in which case holders receive the principal plus any due coupon and no further payments.
If the notes are not called and the stock is at or above a downside threshold on the final valuation date, investors receive the full principal at maturity. If the stock finishes below the downside threshold, repayment is reduced in line with the stock’s decline, and the entire investment can be lost. Any payments depend on UBS’s credit, the notes will not be listed on an exchange, and the minimum investment is 100 notes at $10 per note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the VanEck Gold Miners ETF, maturing on or about December 9, 2026. These unsecured debt securities pay a contingent coupon only when the ETF’s closing level on an observation date is at or above a coupon barrier, and they can be automatically called early if the ETF is at or above its initial level on any observation date before the final valuation date.
If the notes are not called and the ETF’s final level is at or above a downside threshold, investors receive the $10 principal per Note at maturity, plus any final contingent coupon. If the final level is below the downside threshold, the repayment is reduced in line with the ETF’s decline, and the entire principal can be lost. The notes are not listed on any exchange, require a minimum investment of 100 Notes at $10 each, and have an estimated initial value between $9.39 and $9.64 per Note. All payments, including any contingent coupons and principal repayment, depend on the creditworthiness of UBS.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the shares of the VanEck Gold Miners ETF, maturing on or about December 9, 2026. These are unsubordinated, unsecured debt obligations of UBS, not bank deposits and not insured by any government agency.
On each observation date, UBS will pay a contingent coupon only if the ETF’s closing level is at or above a preset coupon barrier; otherwise no coupon is paid for that period. The notes are automatically called if, on any observation date before the final one, the ETF closes at or above its initial level, in which case investors receive the $10 principal per note plus any due coupon and the notes terminate early.
If the notes are not called and the ETF’s final level is at or above the downside threshold, investors receive their principal back at maturity (and a final coupon if the barrier is met). If the final level is below the downside threshold, repayment is reduced in line with the ETF’s decline and investors can lose some or all of their initial investment. The preliminary supplement shows a hypothetical contingent coupon rate of 9.17% per annum and an estimated initial value per $10 note between $9.39 and $9.64, and stresses that all payments depend on UBS’s creditworthiness.
UBS AG is offering Capped Leveraged Buffered Russell 2000® Index‑Linked Medium‑Term Notes that pay no interest and whose return depends on Russell 2000® Index performance over about 13–15 months. For each $1,000 face amount, holders receive 150.00% of any positive index return, but gains are capped by a maximum settlement amount expected between $1,157.50 and $1,184.80.
If the index falls by up to 10.00%, the payout is $1,000; below that 90.00% buffer level, principal loss is magnified at approximately 1.1111% for every additional 1% decline and can reach a total loss of principal. The estimated initial value is expected between $957.00 and $987.00 per $1,000, reflecting costs including a 1.09% underwriting discount and UBS’ internal funding rate. The notes are unsecured obligations of UBS AG London Branch, are not bank deposits or FDIC‑insured, and may have little or no secondary market.
UBS AG is offering $2,385,000 of Trigger Autocallable Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing on December 9, 2031. Each Note has a $1,000 principal amount and may be automatically called quarterly, starting after 12 months, if the index closes at or above the call threshold level of 294.80, which is 100% of the initial level. If called, investors receive the principal plus a call return based on a 28.20% per annum call return rate; call prices range from $1,282 on the first call date up to $2,692 near maturity.
If the Notes are never called and, on the final valuation date, the index is at or above the downside threshold of 147.40 (50% of the initial level), UBS repays the $1,000 principal. If the final index level is below this threshold, the maturity payment falls in line with the index loss, and investors can lose up to 100% of their investment. The Notes are unsubordinated, unsecured UBS obligations, not listed on any exchange, and all payments depend on UBS’s credit. The estimated initial value is $965.90 per Note, below the $1,000 issue price, reflecting fees, hedging and UBS’s internal funding rate.
UBS AG is offering unsubordinated, unsecured Callable Contingent Interest Barrier Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing on June 9, 2027. Each $1,000 Note has an approximately 18‑month term and can pay monthly contingent interest of $7.3667 if, on an observation date, both indices are at or above their interest barriers set at 65.00% of their initial levels.
UBS may call the Notes in whole on any observation date other than the valuation date, paying back principal plus any due contingent interest, after which no further payments are made. If the Notes are not called and both final index levels are at or above their trigger levels, investors receive the full $1,000 principal at maturity and, if conditions are met, the final contingent interest payment.
If the Notes are not called and any index finishes below its trigger level, repayment equals $1,000 times one plus the return of the worst performing index, so losses mirror that index’s decline and can reach 100% of principal. The estimated initial value is between $952.00 and $982.00 per $1,000 Note, and the $1,000 issue price includes a $5.00 underwriting discount, leaving $995.00 in proceeds to UBS. The Notes are not listed, offer no upside beyond contingent interest, and all payments depend on UBS’s credit.
UBS AG London Branch is offering capped, leveraged, buffered medium-term notes whose payoff depends on an unequally weighted basket of five equity indices: EURO STOXX 50® (38%), TOPIX (26%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (8%). The notes pay no interest and are expected to mature in about 26–29 months.
At maturity, investors receive $1,000 plus 240.00% of any positive basket return, but only up to a maximum settlement amount expected between $1,226.56 and $1,266.40 per $1,000. If the basket falls by up to 17.50%, investors receive $1,000. If it falls more than 17.50%, principal is reduced at approximately 1.2121% for each 1% decline beyond that buffer, and investors can lose their entire investment.
The estimated initial value is expected between $966.50 and $996.50 per $1,000, reflecting internal funding and hedging costs. The notes are unsecured obligations of UBS, will not be listed, may have limited or no secondary market, and involve complex U.S. tax and withholding considerations.
UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index, with a term of approximately three years to about December 15, 2028. The Notes are unsubordinated, unsecured debt obligations of UBS with a $1,000 denomination and principal fully at risk.
Investors may receive monthly contingent coupons at a rate of 9.90% per annum (cash payments of $8.25 per Note) only if, on each observation date, the closing level of both indices is at or above 85.00% of their initial levels. UBS may call the Notes in whole on any monthly observation date beginning after 12 months, paying $1,000 per Note plus any due coupon, after which no further payments are made.
If the Notes are not called and, on the final valuation date, each index is at or above its 85.00% downside threshold, UBS repays the $1,000 principal, reflecting a 15.00% buffer. If any index finishes below its downside threshold, repayment is reduced by the decline of the least performing index beyond the buffer, and investors could lose almost all of their investment. The estimated initial value is expected between $951.00 and $981.00 per $1,000 Note due to underwriting discount, hedging and funding costs, including a $5.00 underwriting discount and $995.00 proceeds to UBS per Note. The Notes will not be listed and carry significant market, liquidity, credit and tax risks.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Dell Technologies Inc., maturing on or about December 8, 2028. Each Note has a $1,000 principal amount and pays a contingent coupon at a rate of 12.55% per annum on quarterly coupon payment dates only if Dell’s share price on the related observation date is at or above the coupon barrier, set at 50% of the initial level. Missed coupons can be paid later if the barrier is met, under the memory feature.
The Notes are automatically called if, on any quarterly observation date beginning after six months, Dell’s share price is at or above the call threshold, set at 100% of the initial level; in that case investors receive principal plus the applicable coupon and no further payments. If the Notes are not called and Dell’s final level is below the downside threshold of 50% of the initial level, investors suffer a loss matching Dell’s percentage decline and could lose their entire investment. The Notes are unsecured obligations of UBS, not FDIC‑insured, will not be listed on an exchange, and have an estimated initial value between $940.90 and $970.90, below the $1,000 issue price.
UBS AG is offering $700,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Carnival Corporation, scheduled to mature on December 7, 2026. These unsecured debt notes pay a contingent coupon only when Carnival’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 Carnival’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the principal plus any due contingent coupon and no further payments. If the notes are not called and the final stock level is at or above a downside threshold, investors receive full principal at maturity; if it is below that threshold, repayment is reduced in line with the stock’s decline, and all principal can be lost.
Any payment depends on the creditworthiness of UBS. The minimum investment is 100 notes at $10 per note, and the estimated initial value per note on the trade date is $9.73. The notes will not be listed on any exchange and are not insured by any government agency.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Carnival Corporation, maturing on or about December 7, 2026. These unsecured debt notes may pay contingent coupons only when Carnival’s share price on scheduled observation dates is at or above a preset coupon barrier; if the share price is below that level, no coupon is paid for that period.
The notes can be automatically called before maturity if Carnival’s share price is at or above the initial level on any observation date, in which case investors receive the $10 principal per note plus any due coupon and the product terminates. If the notes are not called and the final share price is at or above a downside threshold, investors receive their principal back; if it is below that threshold, repayment is reduced in line with Carnival’s decline and can fall to zero.
The minimum investment is 100 notes at $10 each, and UBS expects the initial estimated value per $10 note to be between $9.35 and $9.60. Payments depend entirely on UBS’s creditworthiness, the notes are not FDIC‑insured, and they will not be listed on an exchange, so liquidity and pricing in any secondary market are uncertain.
UBS AG is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Capital One Financial Corporation, scheduled to mature on December 6, 2027. These notes can pay contingent coupons only if Capital One’s share price is at or above a preset coupon barrier on scheduled observation dates; otherwise no coupon is paid for that period.
The notes are automatically called early if the share price is at or above the initial level on any observation date before maturity, in which case investors receive principal plus the applicable contingent coupon and no further payments. If the notes are not called and the final share level is at or above a downside threshold, investors receive only their principal back at maturity. If the final share level is below the downside threshold, repayment is reduced in line with the stock’s decline and investors can lose all of their investment.
All payments depend on the creditworthiness of UBS, and the notes will not be listed on any exchange. The minimum investment is 100 notes at $10 per note, and the estimated initial value is $9.70 per note, reflecting UBS’ internal pricing and costs.
UBS AG is offering $103,000 of Trigger Autocallable Contingent Yield Notes linked to the ADRs of Arm Holdings plc, maturing on December 6, 2027. Each Note has a $10 principal amount, with a minimum investment of 100 Notes.
Investors receive a contingent coupon only if Arm’s ADR closing level on an observation date is at or above the coupon barrier, set at 55% of the initial level. The notes may be automatically called before maturity if Arm’s ADRs close at or above the initial level on any observation date, in which case investors receive principal plus the applicable coupon and the product terminates.
If the notes are not called and the final level is at or above the downside threshold (also 55% of the initial level), investors receive full principal back at maturity, plus any final coupon if the barrier is met. If the final level is below the downside threshold, repayment is reduced dollar‑for‑dollar with Arm’s decline, and investors can lose some or all of their investment. All payments depend on the creditworthiness of UBS. The estimated initial value is $9.69 per $10 Note.
UBS AG is offering Trigger Autocallable GEARS, five-year unsecured notes linked to an equally weighted basket of 18 selected equities. Each Security has a $10 principal amount and does not pay interest or dividends.
The notes can be automatically called after about one year if the basket closing level is at or above the autocall barrier, set at 100% of the initial basket level, paying a call price of $11.10 per Security based on an 11.00% call return rate. If not called and the basket return is positive at maturity, investors receive $10 plus the basket return multiplied by upside gearing of 1.30 to 1.50.
If the notes are not called and the final basket level is at or above the downside threshold of 75% of the initial basket level, principal is returned. If the final basket level falls below this threshold, repayment is reduced one-for-one with the negative basket return, and the entire investment can be lost. All payments depend on the creditworthiness of UBS, and the Securities are not listed, may have limited liquidity, and have an estimated initial value between $9.242 and $9.542 per $10.
UBS AG is offering $152,000 of Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock, maturing December 4, 2028. These unsecured, unsubordinated notes pay a contingent coupon only if Oracle’s closing 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 redeemed early: if Oracle’s share price on any observation date before maturity is at or above the initial level, UBS will automatically call the notes and repay the $10 principal per note plus any due coupon, with no further payments afterward. If the notes are not called and Oracle’s final share price on the November 30, 2028 valuation date 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 Oracle’s percentage decline, and investors could lose all of their initial investment.
The minimum investment is 100 notes, or $1,000. The estimated initial value is $9.69 per $10 note, reflecting UBS’s internal pricing. Payments depend on UBS’s credit, the notes will not be listed on an exchange, and they are not bank deposits or FDIC insured.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on or about December 6, 2027. These unsecured, unsubordinated notes pay a contingent coupon only if the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid. The notes may be automatically called early if the stock closes at or above its initial level on any observation date before maturity, in which case investors receive principal plus the applicable contingent coupon and the notes terminate.
If the notes are not called and the final stock level is at or above the downside threshold, investors receive full principal repayment at maturity, potentially with a final contingent coupon. If the final level is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and investors could lose all of their initial investment. The notes are not listed, require a minimum investment of 100 notes at $10 each, and all payments depend on the creditworthiness of UBS. The estimated initial value is expected between $9.41 and $9.66 per note.
UBS AG is offering Trigger Callable Contingent Yield Notes with Daily Coupon Observation linked to the least performing of the Nikkei 225® Index, Russell 2000® Index and S&P 500® Index, maturing on or about September 7, 2028. Each Note has a $10 principal amount, with a minimum investment of 100 Notes.
The Notes pay a quarterly contingent coupon at a rate of at least 12.00% per annum only if, on every trading day in the observation period, each index stays at or above its coupon barrier, set at 70.00% of its initial level. UBS may call the Notes quarterly (other than the final period) regardless of index performance, repaying principal plus any due coupon, after which no further payments are made.
If the Notes are not called and, at maturity, the final level of any index is below its downside threshold of 60.00% of its initial level, the redemption amount is reduced one-for-one with the negative return of the worst-performing index, and principal losses can reach 100%. Payments depend on the creditworthiness of UBS. The estimated initial value is expected between $9.575 and $9.875 per $10 Note, reflecting fees and UBS’ internal funding rate.
UBS AG is offering $5.374 million of Trigger Autocallable Contingent Yield Notes linked to the worst performer of the Russell 2000 and S&P 500, maturing in 2030. Each $1,000 note can pay a 9.60% per annum contingent coupon, but only if both indices stay at or above 70% of their initial levels on quarterly observation dates. The notes can be called early after six months if both indices are at or above 100% of their initial levels, returning principal plus the relevant coupon.
If the notes are not called and either index finishes below its 70% downside threshold at maturity, repayment is reduced one-for-one with the loss on the worst-performing index, and all principal can be lost. The notes are unsecured obligations of UBS AG London Branch, carry full issuer credit risk, have an estimated initial value of $974.30 per $1,000, and are expected to have limited or no secondary market liquidity.
UBS AG is offering $5,798,000 of Trigger Autocallable GEARS, $10 denomination, linked to an equally weighted basket of 17 U.S. and non-U.S. equities, maturing on November 29, 2030. The notes pay no interest and may be automatically called on December 2, 2026 if the basket level is at or above the autocall barrier of 100% of the initial basket level, in which case investors receive $11.15 per note (an 11.50% call return) and the notes terminate.
If not called, at maturity investors receive enhanced upside equal to the basket return multiplied by 1.50x upside gearing when the basket return is positive. If the basket return is zero or negative but the final basket level is at or above the 75% downside threshold, principal is returned. If the final basket level falls below the downside threshold, repayment is reduced one-for-one with the negative basket return, up to a full loss of principal.
The estimated initial value is $9.534 per $10 note, reflecting underwriting discount and hedging and issuance costs. The securities are unsecured, unsubordinated obligations of UBS AG, are not FDIC insured, will not be listed on an exchange, and all payments depend on UBS’s creditworthiness.
UBS AG is issuing $10,896,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing on November 30, 2028. The Notes pay a contingent coupon at a rate of 9.85% per annum (about $24.625 per quarter per $1,000) only if on each quarterly observation date both indices close at or above their coupon barriers, set at 70% of initial level, which are also the downside thresholds.
UBS may call the Notes in whole on any observation date beginning after six months, paying back principal plus any due coupon; no further payments are then made. If the Notes are not called and at maturity both indices are at or above their downside thresholds, investors receive the $1,000 principal per Note (plus any final coupon). If any index finishes below its downside threshold, the maturity payment is reduced dollar-for-dollar with the worst index’s loss and can fall to zero, causing a total loss of principal.
The Notes are unsubordinated, unsecured obligations of UBS, not FDIC-insured, will not be listed on an exchange, and may have limited or no secondary market. The estimated initial value is $976.60 per $1,000 Note, reflecting internal pricing, fees and hedging costs, and is lower than the issue price.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, with a term of approximately three years. The Notes pay a 10.00% per annum contingent coupon (paid monthly as $8.3333 per $1,000) only if on each observation date all three indices are at or above their coupon barriers, set at 75.00% of their initial levels. UBS may call the Notes in whole, beginning after three months, paying principal plus any due coupon, after which no further payments are made. If the Notes are not called and any index finishes below its downside threshold of 60.00% of its initial level, investors are repaid less than principal, with losses matching the negative return of the worst-performing index and potential loss of the entire investment. Payments depend on UBS’s credit; the estimated initial value is expected between $933.40 and $963.40 per $1,000 Note.
UBS AG is offering $505,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing on November 29, 2030. The Notes pay a contingent coupon at 14.00% per annum (about $11.6667 per $1,000 per month) only if the index closes at or above the coupon barrier of 186.24 (65% of the initial level of 286.52) on each monthly observation date, with unpaid coupons potentially recovered later via a memory feature.
UBS will automatically call the Notes if the index is at or above the call threshold of 286.52 (100% of the initial level) on any quarterly autocall date after 12 months, repaying principal plus due and previously unpaid coupons. If the Notes are not called and the final index level is at or above the downside threshold of 143.26 (50% of the initial level), investors receive full principal at maturity. If the final level is below the downside threshold, repayment is reduced one-for-one with the index loss, and investors can lose their entire investment. The estimated initial value is $967.40 per $1,000 Note, and all payments depend on UBS’s credit.
UBS AG, acting through its London Branch, is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, maturing on or about December 3, 2027. Each Note has a $1,000 principal amount and pays a contingent coupon at a rate of 11.35% per annum on monthly observation dates, but only if the closing level of every index is at or above its coupon barrier.
Both the coupon barriers and downside thresholds are set at 70% of each index’s initial level. UBS may call the Notes in whole, beginning after 3 months, paying principal plus any due coupon; no further payments would be made. If the Notes are not called and any index finishes below its downside threshold, investors receive $1,000 × (1 + return of the worst-performing index), which can mean a substantial loss, including full loss of principal.
The Notes are unsubordinated, unsecured obligations of UBS, are not bank deposits, are not insured, and will not be listed on an exchange. The estimated initial value is expected between $939.30 and $969.30 per $1,000 Note, reflecting underwriting compensation of up to $7.25 per Note and UBS’ internal funding rate. Tax treatment is uncertain and described as prepaid derivatives with contingent coupons treated as ordinary income.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, with a term of about three years. The Notes pay a monthly contingent coupon at an annual rate of 8.55% only if on each 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 on any monthly observation date beginning after six months, paying back the $1,000 principal per Note plus any due coupon, after which no further payments are made. If the Notes are not called and any index finishes below its downside threshold at 70% of its initial level, investors take a loss equal to the negative return of the worst-performing index, up to a total loss of principal.
The Notes are unsecured, unsubordinated obligations of UBS AG, not listed on an exchange, and their estimated initial value is indicated between $911.50 and $941.50 per $1,000 issue price, reflecting dealer compensation and hedging costs. All payments depend on UBS’s creditworthiness.
UBS AG is offering unsecured Buffer Autocallable Contingent Yield Notes linked to the least-performing of the VanEck Gold Miners ETF (GDX) and the Energy Select Sector SPDR Fund (XLE), with a term of about two years and a 12.55% per annum contingent coupon. Monthly coupons are paid only if the closing level of each ETF is at or above 80% of its initial level. Quarterly, beginning after six months, the notes are automatically called if both ETFs are at or above 100% of their initial levels, returning principal plus the due coupon.
If the notes are not called and, at maturity, both ETFs are at or above 80% of their initial levels, investors receive full principal back (plus the final coupon if conditions are met). If any ETF finishes below its 80% downside threshold, repayment is reduced, matching the decline of the worst ETF beyond a 20% buffer, and losses can approach the entire investment. The notes are subject to UBS credit risk, and their estimated initial value is between $913.90 and $943.90 per $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 have an approximate 23‑month term and pay a contingent coupon of 9.00% per annum ($7.50 per $1,000 per month) only if, on each monthly observation date, all three indices close at or above their respective coupon barriers, set at 70% of their initial levels.
UBS can call the Notes in whole on any monthly observation date beginning after 3 months, repaying principal plus any due coupon, after which no further payments are made. If the Notes are not called and, at maturity, each index is at or above its downside threshold (also 70% of its initial level), investors receive back the $1,000 principal per Note. If any index finishes below its downside threshold, the maturity payment is reduced one‑for‑one with the negative return of the worst‑performing index, and investors can lose up to their entire investment.
The Notes are not principal protected, may pay few or no coupons, will not participate in any index upside, and will not be listed on an exchange. Payments depend entirely on the creditworthiness of UBS, and the estimated initial value per $1,000 Note is expected to be between $922.80 and $952.80, lower than the issue price due to fees, hedging costs and UBS’ internal funding rate.
UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, maturing on November 30, 2028. The Notes pay a quarterly contingent coupon at a rate of 8.80% per annum only if, on each observation date, all three indices close at or above 70% of their initial levels, which also serve as the coupon barriers and downside thresholds.
UBS may call the Notes on any quarterly observation date (other than the final one), in which case investors receive the $1,000 principal plus any due coupon and no further payments. If not called and at maturity all indices are at or above their downside thresholds, investors receive full principal back. If any index finishes below its downside threshold, the maturity payment is reduced according to the decline of the worst-performing index beyond a 30% buffer, and investors could lose almost all of their investment.
The Notes are unsecured obligations of UBS AG, are not listed on any exchange, pay no guaranteed income, and do not provide any participation in index gains or dividends. The estimated initial value per $1,000 Note is expected to be between $956.00 and $986.00, reflecting internal pricing, hedging and issuance costs.
UBS AG, via its London Branch, is offering unsecured Contingent Income Auto-Callable Securities linked to the common stock of Citigroup Inc.. Each security has a $1,000 stated principal amount and may pay a contingent coupon of $25.625 per quarter (equivalent to 10.25% per annum) when Citigroup’s closing price is at or above 65% of the initial price on a determination date.
If Citigroup’s price is at or above 100% of the initial price on any non-final determination date, the notes are automatically called, and investors receive principal plus that period’s coupon. If the notes are not called and Citigroup’s final price is below the 65% downside threshold, repayment is reduced 1-for-1 with the stock’s decline via a cash value formula, and investors can lose most or all of their investment.
The notes mature around December 8, 2028, are not listed on any exchange, and all payments depend on UBS’s credit. The estimated initial value is expected between $935.70 and $965.70 per $1,000, reflecting fees, hedging costs and UBS’s internal funding rate.
UBS AG is offering $340,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest, issued in $1,000 denominations and linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on November 29, 2030.
The Notes pay a contingent coupon at a rate of 8.50% per annum (about $7.0833 per month per $1,000) only if, on a monthly observation date, each index closes at or above its coupon barrier set at 70.00% of its initial level. The Notes are automatically called if, on a semiannual call observation date, 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 any due and unpaid coupons.
If the Notes are not called and, at maturity, any index is below its downside threshold of 60.00% of its initial level, investors receive less than principal in line with the negative return of the worst-performing index and can lose their entire investment. The issue price is $1,000 per Note, with an estimated initial value of $970.40, and all payments depend on the creditworthiness of UBS AG.
UBS AG is offering $501,000 of Capped Buffer Contingent Absolute Return Securities, unsecured notes linked to the Invesco QQQ Trust, maturing on May 28, 2027. Each Security has a $1,000 principal amount, with an initial QQQ level of $608.89 and a downside threshold of $487.11, which is 80.00% of the initial level, providing a 20.00% buffer.
If QQQ’s return is positive, holders receive principal plus the lesser of the underlying return and the 11.05% maximum upside gain, capped at $1,110.50 per Security. If the underlying return is zero or negative but QQQ finishes at or above the downside threshold, investors receive a “contingent absolute return” up to 20.00%, for a maximum payment of $1,200.00 per Security. If QQQ falls below the downside threshold, repayment is reduced dollar-for-dollar beyond the 20.00% buffer and losses can reach almost all of the initial investment.
The Securities pay no interest, forgo QQQ dividends, are intended to be held to maturity, and will not be listed on an exchange. Any payment depends on the credit of UBS AG; default could result in total loss. The estimated initial value is $983.50 per $1,000 Security, reflecting internal pricing, costs and dealer compensation.
UBS AG is offering $5,073,500 of Trigger Autocallable Contingent Yield Notes linked to the worst performer of the Russell 2000 Index and the S&P 500 Index, maturing November 30, 2028. The Notes pay a quarterly contingent coupon at 7.80% per annum only if both indices are at or above 70% of their initial levels, and they can be automatically called after 6 months if both indices are at or above 100% of their initial levels on an observation date, returning principal plus the coupon. If the Notes are not called and, at maturity, either index is below its 70% downside threshold, investors receive $10 times 1 plus the return of the worst-performing index, which can result in a substantial loss, up to a full loss of principal. The issue price is $10 per Note versus an estimated initial value of $9.582, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $300,000 of Capped Buffer GEARS, unsecured notes linked to the Russell 2000® Index and maturing on May 28, 2027. Each $1,000 Security provides 2.00x leveraged upside on any positive index return, capped at an 18.00% maximum gain, for a maximum payment of $1,180.00 per Security. A 10.00% buffer applies: if the index is flat or down but above or at the downside threshold of 2,219.381 (90.00% of the 2,465.979 initial level), investors receive back the $1,000 principal.
If the final index level falls below the downside threshold, repayment is reduced by losses beyond the 10.00% buffer and investors can lose almost all of their investment. The notes pay no interest, do not provide dividends, and depend entirely on UBS’s credit. They are expected to be illiquid and are initially priced at $1,000 with an estimated initial value of $970.20 after fees and hedging costs.
UBS AG is issuing Digital S&P 500® Index-Linked Medium-Term Notes tied to the S&P 500 Index. The notes pay no interest and mature on July 28, 2027, with an aggregate face amount of $8,355,000 and denominations of $1,000.
At maturity, if the index is at or above the 87.50% buffer level of the initial level of 6,705.12, each $1,000 note pays a fixed $1,145.50 (a 14.55% cap). If the index falls more than 12.5%, holders lose about 1.1429% of face value for every 1% decline below the buffer and could lose their entire investment. The estimated initial value is $997.50 per $1,000 face amount, the notes are unsecured obligations of UBS with no listing or redemption rights, and returns depend on UBS's credit and S&P 500 price performance only, excluding dividends.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing on or about December 4, 2030. Each Note has a $1,000 principal amount and pays a 25.00% per annum contingent coupon (about $20.8333 monthly) only when the Index is at or above an 80% coupon barrier on the observation date.
The Notes can be automatically called quarterly, beginning after three months, if the Index is at or above a call threshold set at 100% of the initial level. On an automatic call, investors receive principal plus the applicable contingent coupon and the Notes terminate early.
If not called and the final Index level is at or above the 80% downside threshold, investors receive full principal at maturity (plus the last coupon if the barrier is met). If the final level is below the downside threshold, repayment is $1,000 × (1 + underlying return), exposing investors to the full downside of the Index and potentially a total loss of principal. The estimated initial value is between $919.10 and $949.10, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $936,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, maturing on May 28, 2027. The Notes pay a 13.75% per annum contingent coupon (about $11.4583 per $1,000 per month) only if, on each monthly observation date, all three indices close at or above their coupon barriers, set at 70% of their initial levels.
UBS may call the Notes in whole on any monthly observation date starting after three months, paying back principal plus any due coupon; after a call no further payments are made. If the Notes are not called and any index finishes below its downside threshold (also 70% of initial), the maturity payment is reduced dollar-for-dollar with the worst index’s loss, and investors can lose up to their entire principal. If all three indices end at or above their downside thresholds, investors receive only their $1,000 principal per Note plus any final coupon.
The Notes are unsecured, unsubordinated UBS debt, not deposits and not FDIC insured. The estimated initial value is $984.30 per $1,000 Note, reflecting underwriting discounts, hedging and issuance costs, and the Notes are not expected to be listed, so liquidity may be limited.
UBS AG is offering $633,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq‑100 Index®, Russell 2000® Index and EURO STOXX 50® Index, maturing on November 29, 2030. The Notes pay a contingent coupon at an annual rate of 11.70% (or $29.25 per $1,000 note per quarter) only if on each observation date the closing level of every index is at or above its coupon barrier, set at 70% of the initial level.
UBS may call the Notes on any quarterly observation date (other than the final one), paying back principal plus any due coupon, after which no further payments are made. If the Notes are not called and each index finishes at or above its downside threshold, set at 60% of its initial level, investors receive full principal at maturity; otherwise, repayment is reduced one‑for‑one with the loss of the worst‑performing index, and all principal can be lost.
Payments depend entirely on UBS’ creditworthiness. The estimated initial value is $967.40 per $1,000 note, lower than the issue price due to underwriting compensation, hedging and issuance costs.
UBS AG is offering $2,379,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the S&P 500® Index, maturing on November 30, 2028.
The Notes pay a contingent coupon at an annual rate of 11.55% (monthly coupons of $9.625 per $1,000) only if, on each observation date, every index closes at or above its coupon barrier, set at 70% of its initial level. UBS may call the Notes in whole, at its discretion, on any monthly observation date beginning after three months, paying back principal plus any due coupon.
If the Notes are not called and, at maturity, all three indices are at or above their downside thresholds (60% of initial levels), investors receive full principal back (and a final coupon if barriers are met). If any index finishes below its downside threshold, repayment is reduced in line with the worst-performing index, and investors can lose up to 100% of principal. Payments depend on UBS’ credit; the estimated initial value is $974.30 per $1,000.
UBS AG is offering unsecured Conversion Yield Notes linked to the clean price of a specific 20-year U.S. Treasury bond paying 4.875% and maturing in 2045. The Notes have a term of about six months, are expected to mature on or about June 2, 2026, and pay a fixed coupon of 6.50% per annum, paid once at maturity, regardless of bond performance.
At maturity, if the Treasury bond’s final clean price is at or above its initial clean price on the trade date, investors receive a cash payment equal to the $1,000 principal per Note plus the coupon. If the final clean price is below the initial clean price, investors receive a “physical delivery amount” of the underlying Treasury (plus cash for any fraction), whose value is expected to be less than principal and can result in substantial loss.
The conversion price equals the initial clean price plus 1.4410% UST accrued interest (per $100 face). The estimated initial value is between $954.00 and $984.00 per $1,000 Note, reflecting underwriting discount of $10.00 and proceeds to UBS of $990.00 per Note, as well as hedging and issuance costs. The Notes are not listed and all payments are subject to UBS credit risk.