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 with Memory Interest and a Conditional Threshold Event linked to the least performing of Advanced Micro Devices (AMD) and NVIDIA (NVDA), maturing on November 30, 2028. Each Note has a $1,000 principal amount and pays a 20.00% per annum contingent coupon (about $16.6667 per month) only if on an observation date the closing level of both stocks is at or above their coupon barriers (70% of initial levels: $144.29 for AMD and $124.47 for NVDA), with missed coupons potentially paid later under the memory feature.
The Notes are automatically called if, starting after six months, on any monthly observation date both stocks are at or above their call thresholds, set at 100.00% of initial levels ($206.13 for AMD and $177.82 for NVDA). If called, investors receive principal plus due and previously unpaid coupons, and no further payments. If not called, principal repayment at maturity depends on a threshold event. If each final stock level is at or above its downside threshold (50% of initial: $103.07 for AMD and $88.91 for NVDA) or at least one final level is at or above its upper barrier, investors receive the full $1,000 per Note (plus any due coupons). If instead a threshold event occurs, meaning each final level is below its upper barrier and at least one final level is below its downside threshold, repayment is reduced to $1,000 times 1 plus the return of the least performing stock, matching its percentage loss and potentially resulting in a total loss of principal.
The Notes expose holders to the equity market risk of AMD and NVIDIA individually, sector concentration risk in semiconductors, and the credit risk of UBS as an unsecured senior issuer. Investors forgo dividends and any upside beyond contingent coupons, face the possibility of receiving few or no coupons, and may experience limited or no liquidity because the Notes are not listed. The issue price is $1,000 per Note, with an underwriting discount of $7.00 and estimated initial value between $932.20 and $962.20, reflecting internal funding and hedging costs. U.S. federal income tax treatment is uncertain; UBS intends to treat the Notes as prepaid derivatives with contingent coupons taxed as ordinary income.
UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on or about December 9, 2027. The Notes pay a contingent coupon of 10.05% per annum (about $8.375 per $1,000 Note each month) only if, on an observation date, each index closes at or above its coupon barrier, set at 80% of its initial level.
UBS may call the Notes in whole, starting after three months, paying back principal plus any due coupon, with no further payments. If the Notes are not called and each index finishes at or above its downside threshold (also 80% of initial), investors receive full principal at maturity. If any index ends below its downside threshold, the maturity payment is reduced by the decline of the worst index beyond a 20% buffer, and investors could lose almost all of their investment. All payments depend on the creditworthiness of UBS, and the Notes are not insured or listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator Index, a leveraged, volatility-targeted futures-based index with a 6.0% annual decrement. The Notes pay a contingent coupon at a 17.00% per annum rate, in equal monthly amounts, only if the index closes at or above a coupon barrier set at 70.00% of the initial level on each observation date.
The Notes can be automatically called beginning after six months if the index is at or above a call threshold of 100.00% of the initial level, returning principal plus any due coupon. If not called and, at maturity, the index is at or above a downside threshold of 50.00% of the initial level, investors receive only their principal back. If the final index level is below the downside threshold, repayment is reduced one-for-one with the index loss, and investors can lose their entire investment.
The Notes are unsecured, unsubordinated UBS debt, not deposits and not FDIC insured, with no exchange listing and limited or no secondary market expected. The estimated initial value is between $934.50 and $964.50 per $1,000 issue price, reflecting underwriting discounts, hedging and issuance costs.
UBS AG is offering Buffer Callable Contingent Yield Notes linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on or about June 10, 2027. The Notes pay a 9.55% per annum contingent coupon, observed monthly, but only if each index closes at or above its coupon barrier, set at 80% of its initial level. If any index is below its barrier on an observation date, no coupon is paid for that period.
UBS may call the Notes in whole on any monthly observation date beginning after three 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, at maturity, each index is at or above its downside threshold (also 80% of its initial level), investors receive full principal. If any index finishes below its downside threshold, repayment is reduced based on the decline of the worst-performing index beyond the 20% buffer, and investors could lose almost all of their investment.
All payments depend on the credit of UBS AG. The estimated initial value per Note is expected between $962.40 and $992.40, below the $1,000 issue price, reflecting fees, hedging and funding costs. The Notes will not be listed on an exchange and may have limited or no secondary market liquidity.
UBS AG is offering $792,000 of Capped Buffer GEARS, unsecured structured notes linked to the S&P 500® Index, maturing on May 28, 2027. Each Security has a $1,000 principal amount, 2.00x upside gearing and a maximum gain of 13.00%, capping the maximum payment at $1,130 per Security.
A 10.00% buffer protects principal if the index closes at or above the downside threshold of 6,089.29 (90.00% of the initial level of 6,765.88). Below that level, investors lose principal in line with index losses beyond the buffer and could lose almost all of their investment. The notes pay no interest, do not provide dividends, are not listed, and all payments depend on the creditworthiness of UBS. The estimated initial value is $969.20 per Security, lower than the $1,000 issue price due to underwriting and structuring costs.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, Nasdaq-100 Technology Sector Index and Russell 2000 Index, with a contingent coupon rate of 11.90% per annum. Investors receive a monthly coupon of $9.9167 per $1,000 Note only if each index is at or above its coupon barrier, set at 70% of its initial level. UBS may call the Notes in whole on any monthly observation date beginning after three months, paying back principal plus any due coupon, ending all future payments.
If the Notes are not called and any index finishes below its 70% downside threshold at maturity in December 2028, repayment of principal is reduced one-for-one with the loss on the worst-performing index, and investors could lose their entire investment. The estimated initial value is expected between $943.10 and $973.10 per $1,000 Note, the Notes will not be listed on an exchange, and all payments depend on the creditworthiness of UBS.
UBS AG is offering Capped Buffer GEARS, unsecured debt Securities linked to the iShares MSCI Emerging Markets ETF. The notes have an approximately 2‑year term and provide 2.00x leveraged upside exposure to positive ETF performance, but gains are capped at a maximum gain of 25.80%, corresponding to a maximum payment at maturity of $1,258.00 per $1,000 Security.
These Securities do not pay interest and offer a 10.00% downside buffer: if the ETF decline stays within this buffer and the final level is at or above the downside threshold, investors receive their $1,000 principal at maturity. If the final level falls below the downside threshold, repayment is reduced according to $1,000 × [1 + (Underlying Return + Buffer)], and losses can approach the full investment. Any payment depends entirely on UBS’s credit; a UBS default could result in loss of all principal. The estimated initial value is expected to range from $960.80 to $990.80, below the $1,000 issue price, reflecting fees, hedging and UBS’s internal funding rate.
UBS AG is offering $5,101,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the SPDR® Dow Jones Industrial AverageSM ETF Trust (DIA) and the Energy Select Sector SPDR® Fund (XLE), maturing on November 30, 2028.
The Notes pay a contingent coupon of 8.90% per annum ($0.2225 per $10 Note per quarter) only if on a quarterly observation date the closing level of each ETF is at or above its coupon barrier, set at 70.00% of its initial level. The Notes are automatically called after six months or later if, on an observation date, each ETF is at or above its call threshold level, equal to 100.00% of its initial level, in which case investors receive principal plus the applicable coupon and no further payments.
If the Notes are not called and on the final valuation date each ETF is at or above its downside threshold (also 70.00% of initial), investors receive full principal; otherwise, repayment is reduced one-for-one with the negative return of the worst-performing ETF, and all principal can be lost. The Notes are unsecured, unsubordinated UBS debt, carry an estimated initial value of $9.616 per $10 Note, are sold in minimum $1,000 denominations, and will not be listed on any exchange.
UBS AG is offering $265,000 of Trigger Callable Contingent Yield Notes due November 30, 2028, linked to the worst performer of the Dow Jones Industrial Average, Nasdaq-100 Technology Sector Index and Russell 2000 Index. The Notes pay a 10.45% per annum contingent coupon (about $8.7083 per $1,000 monthly) only if, on each observation date, all three indexes close at or above 70% of their initial levels. UBS can call the Notes in whole on any monthly observation date starting after nine months, paying back principal plus any due coupon.
If the Notes are not called and, at maturity, all three indexes finish at or above their 70% downside thresholds, investors receive back the $1,000 principal per Note. If any index finishes below its downside threshold, repayment is reduced based on the negative return of the worst-performing index, and investors can lose up to all of their investment. The estimated initial value is $963.80 per $1,000, the issue price is $1,000, and the Notes are unsecured obligations of UBS, not listed on any exchange and subject to UBS credit risk.
UBS AG is offering $1,011,000 of Trigger Callable Contingent Yield Notes, $1,000 per Note, linked to the Nasdaq-100, Russell 2000 and EURO STOXX 50, maturing on December 1, 2027. The Notes pay a contingent coupon at an annual rate of 11.60% (about $9.6667 per month per Note) only if, on each monthly observation date, all three indices close at or above their coupon barriers, set at 70% of their initial levels, which also serve as downside thresholds.
UBS may call the Notes in whole on any observation date 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 at maturity, investors lose principal in proportion to the negative return of the worst-performing index and can lose their entire investment.
All payments depend on UBS’s credit; if UBS defaults, investors could receive nothing. The estimated initial value is $957.00 per $1,000 Note, below the issue price, reflecting fees, hedging and UBS’s internal funding rate.
UBS AG is offering $1,630,000 of capped leveraged S&P 500® Index-linked medium-term notes due November 15, 2027. These notes pay no interest and repay an amount at maturity based on the S&P 500® performance from the trade date to the determination date.
For each $1,000 face amount, investors receive $1,000 plus 300% of any positive index return, capped at a maximum settlement amount of $1,262.50 (a 26.25% maximum gain). If the index is flat, investors receive $1,000. If the index falls, principal is lost one-for-one with the index decline, up to a total loss of the investment.
The notes are unsecured obligations of UBS AG London Branch, are not FDIC-insured, and carry UBS credit risk. They will not be listed on an exchange and may have limited or no secondary market. The estimated initial value is $996 per $1,000 face amount, reflecting internal pricing and hedging costs. The filing also highlights complex U.S. tax, Section 871(m), and FATCA considerations.
UBS AG is offering Trigger Autocallable Notes linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index, maturing around December 9, 2031. Each Note has a $1,000 principal amount and a high fixed 28.20% per annum call return rate, paid only if the Notes are automatically called when the index closes at or above the call threshold (100% of the initial level). Observation dates are quarterly, starting about 12 months after issuance, and the potential call price rises over time up to $2,692 per Note at final maturity.
If the Notes are never called and the index’s final level is at or above the downside threshold (50% of the initial level), investors receive only their $1,000 principal back. If the final level is below the downside threshold, repayment is reduced one-for-one with the index loss, so investors can lose up to 100% of their investment. The estimated initial value is expected between $935.90 and $965.90 per Note, reflecting dealer compensation and hedging costs. All payments depend on UBS’s credit; if UBS defaults, investors may receive nothing.
UBS AG is offering $5,588,000 of Airbag Callable Contingent Yield Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing in November 2028. Each $1,000 note pays a 12.40% per annum contingent coupon monthly, but only when both indices close at or above 80% of their initial levels. UBS can call the notes quarterly at par plus any due coupon, ending all future payments.
If the notes are not called and either index finishes below its 80% downside threshold at maturity, principal is reduced on a leveraged basis: investors lose 1.25% of principal for each 1% decline beyond the 20% buffer in the worst-performing index, up to a total loss. The notes are unsecured, unsubordinated obligations of UBS, with an estimated initial value of $983.70 per $1,000, and carry full UBS credit risk plus complex market, liquidity and tax risks.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the worst performer of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index, with a term of about 23 months. The Notes pay a contingent coupon at a rate of 11.75% per annum (about $9.7917 per $1,000 Note monthly) only when all three indices are at or above 70% of their initial levels on the relevant observation date.
UBS can call the Notes in whole on any monthly observation date starting after three months, repaying principal plus the 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, repayment is reduced in line with the worst index’s loss, and the entire principal can be lost. All payments depend on UBS’s credit, and the estimated initial value is expected between $941.20 and $971.20 per $1,000 Note.
UBS AG is offering $1,310,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, unsecured and unsubordinated debt of UBS. Investors receive contingent coupons only if Oracle’s closing share price on an observation date is at or above a defined coupon barrier; otherwise no coupon is paid for that period.
The notes may be automatically called early if Oracle’s share price on any observation date before maturity is at or above the initial level, in which case UBS repays principal plus the applicable coupon and the product terminates. If the notes are not called and Oracle’s final level on the May 26, 2027 final valuation date is at or above a downside threshold, UBS repays the $10 principal per note at maturity on May 28, 2027. If the final level is below the downside threshold, repayment is reduced in line with Oracle’s percentage decline, and investors can lose all of their investment.
Payments on the notes, including any coupons and principal, depend on the creditworthiness of UBS. The notes will not be listed on an exchange, and the estimated initial value per $10 note on the trade date is $9.80, reflecting UBS’ internal pricing and funding considerations.
UBS AG is offering $524,400 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on November 29, 2027. These unsecured debt notes pay a contingent coupon only when the stock closes at or above a preset coupon barrier on each observation date; otherwise no coupon is paid.
The notes are automatically called if Marvell’s stock is at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus 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 at maturity. If the final level is below the downside threshold, repayment is reduced in line with the stock’s negative return and can fall to zero, causing a total loss of principal.
The notes are issued in minimums of 100 Notes at $10 each. The estimated initial value per Note is $9.71, based on UBS’s internal models. All payments depend on the creditworthiness of UBS; a default by UBS could result in loss of all amounts owed.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc., maturing on November 29, 2027. The Notes pay a contingent coupon only when Marvell’s share price on a quarterly observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
Beginning after 12 months, if Marvell’s share price on any observation date is at or above the initial level, the Notes are automatically called, returning principal plus any due coupon, and the product terminates. If the Notes are not called and Marvell’s final share price is at or above the downside threshold, investors receive only their principal back at maturity.
If the Notes are not called and Marvell’s final share price is below the downside threshold, repayment is reduced in line with the stock’s percentage loss, and the entire principal can be lost. Payments also depend on the creditworthiness of UBS. The issue price is $10 per Note, with a minimum investment of 100 Notes, and the estimated initial value is $9.58 per Note.
UBS AG is offering $1,060,000 of Trigger Autocallable Contingent Yield Notes linked to General Electric common stock, maturing on November 29, 2027. These unsecured debt notes pay a contingent coupon only if GE’s share price on each observation date is at or above a preset coupon barrier; if it is below, no coupon is paid for that period. Starting about six months after issuance, the notes are observed quarterly and will be automatically called early if GE’s share price is at or above the initial level, in which case investors receive their principal plus any due coupon and the notes terminate.
If the notes are not called and GE’s final share level on the November 24, 2027 valuation date is at or above the downside threshold, investors receive full principal back at maturity. If the final level is below the downside threshold, repayment is reduced in line with GE’s percentage decline, and the entire investment can be lost. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.78 per $10 note. Payments depend on UBS’s credit, and the notes will not be listed on any exchange.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on November 30, 2026. The Notes pay a contingent coupon only if NVIDIA’s closing share price on an observation date is at or above a preset coupon barrier; if it is below, no coupon is paid for that period.
The Notes will 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 $10 principal per Note plus any due coupon, and the Notes terminate. If not called and NVIDIA’s final level is at or above the downside threshold, investors receive principal back at maturity; if it is below, repayment is reduced in line with the stock’s decline and can fall to zero. Payments, including any return of principal, depend on the creditworthiness of UBS. The minimum investment is 100 Notes ($1,000), and the estimated initial value per Note on the trade date is $9.80.
UBS AG is offering $4,020,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on November 29, 2027. The Notes pay a contingent coupon at a rate of 13.38% per annum only when NVIDIA’s closing price on an observation date is at or above a specified coupon barrier.
The Notes are automatically called if NVIDIA’s price on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon, with no further payments. If not called and NVIDIA’s final level is at or above a downside threshold, investors receive only the $10 principal per Note; if the final level is below the downside threshold, repayment is reduced in line with the stock’s loss and can fall to zero, resulting in a total loss of principal.
The minimum investment is 100 Notes (a $1,000 outlay), and the estimated initial value is $9.82 per $10 Note, reflecting UBS’s internal pricing. All payments depend on UBS’s credit; a UBS default could result in losing the entire investment.
UBS AG is offering $340,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on November 29, 2027. These $10 notes pay a contingent coupon at a rate of 12.41% per annum only when CrowdStrike’s closing price on an observation date is at or above the coupon barrier, set at 55.00% of the initial level.
The notes are automatically called early if CrowdStrike’s price on any observation date before maturity is at or above the initial level, returning principal plus the applicable contingent coupon. If not called, full principal is repaid at maturity only if the final stock level is at or above the downside threshold, also 55.00% of the initial level; below that, repayment is reduced one-for-one with the stock’s decline, up to a total loss of principal. The estimated initial value is $9.81 per $10 note, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $300,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company, maturing on November 30, 2026. The Notes pay a contingent coupon only if Eli Lilly’s closing stock 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 before maturity if Eli Lilly’s stock closes at or above the initial level on any observation date, in which case holders receive the principal plus the applicable contingent coupon and the Notes terminate. If not called, and the stock is at or above the downside threshold on the final valuation date, investors receive their full principal back, plus any final contingent coupon.
If the Notes are not called and Eli Lilly’s stock finishes below the downside threshold, repayment at maturity is reduced in line with the stock’s percentage decline, and investors can lose all of their initial investment. Payments depend entirely on the creditworthiness of UBS. The minimum investment is 100 Notes at $10 per Note, and the estimated initial value per Note is $9.79.
UBS AG is offering $517,000 of Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. common stock, maturing on November 29, 2027. Each Note has a $10 principal amount and pays a contingent coupon only if Palantir’s share price on an observation date is at or above the coupon barrier, set at 60% of the initial level. The illustrative contingent coupon rate is 24.56% per annum, or $0.614 per period on a $10 Note.
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 principal plus the applicable coupon and the product terminates. If not called, and the final share price is at or above the downside threshold (also 60% of the initial level), investors receive full principal back, plus any final coupon. If the final level is below the downside threshold, repayment is reduced one-for-one with the share’s decline, and investors can lose up to their entire investment.
The minimum investment is 100 Notes ($1,000). The estimated initial value is $9.80 per $10 Note, and all payments depend on the creditworthiness of UBS AG; a default could result in a total loss regardless of Palantir’s performance.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to Vistra Corp. common stock, maturing on November 30, 2026. The Notes pay a high contingent coupon, illustrated at 18.63% per annum ($0.4658 per $10 Note per period in the examples), but only when Vistra’s share price on an observation date is at or above a specified coupon barrier.
The Notes can be automatically called early if Vistra’s stock closes at or above its initial level on any observation date before maturity, in which case holders receive principal plus the applicable contingent coupon and the Notes terminate. If not called, and the final share price is at or above the downside threshold, investors receive their principal (and a final coupon if the coupon barrier is met). If the final share price is below the downside threshold, repayment is reduced dollar-for-dollar with Vistra’s decline, and investors can lose their entire investment. All payments depend on the creditworthiness of UBS, and the estimated initial value is $9.73 per $10 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on November 29, 2027. These unsecured debt securities pay a contingent coupon only if the underlying stock closes at or above a preset coupon barrier on each observation date; otherwise, no coupon is paid for that period.
The Notes are automatically called early if, on any observation date before maturity, the stock closes at or above its initial level, in which case investors receive the principal plus any due contingent coupon and no further payments. If the Notes are not called and the final stock level is at or above the downside threshold, investors receive their principal at maturity; if it is below the downside threshold, the payoff is reduced in line with the stock’s negative return and can fall to zero.
The Notes expose investors both to the market risk of Vistra’s stock and to the credit risk of UBS, with the possibility of losing a significant portion or all of the initial investment. The minimum investment is 100 Notes at $10 per Note, and the estimated initial value is $9.67 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vertiv Holdings Co, scheduled to mature on November 29, 2027. These unsecured debt securities pay a contingent quarterly coupon only if Vertiv’s share price on the relevant observation date is at or above a preset coupon barrier; otherwise no coupon is paid.
The notes can be automatically called before maturity if Vertiv’s stock closes at or above the initial level on an observation date. In that case, investors receive the principal plus any due contingent coupon and the product terminates early. If the notes are not called and Vertiv’s final share level is at or above the downside threshold, investors receive full principal at maturity; if it is below the downside threshold, repayment is reduced in line with Vertiv’s percentage decline and can fall to zero.
The notes are issued in $10 denominations, with a minimum investment of 100 notes ($1,000), and an estimated initial value of $9.60 per $10 note. All payments depend on the creditworthiness of UBS AG, and the notes are neither bank deposits nor insured by any government agency.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc., maturing on November 29, 2027. These unsecured debt notes pay a contingent coupon only when Alphabet’s closing level 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 before maturity if Alphabet’s closing level on any observation date (other than the final one) is at or above the initial level, in which case holders receive the $10 principal per Note plus any due coupon and no further payments. If the notes are not called and Alphabet’s final level is below a downside threshold, repayment at maturity is reduced in line with Alphabet’s decline and can fall to zero, meaning loss of the entire investment. The notes are offered at $10 per Note with a minimum investment of 100 Notes, and the estimated initial value is $9.78 per Note, reflecting UBS’s internal pricing. All payments depend on UBS’s creditworthiness.
UBS AG is offering $524,400 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., maturing November 29, 2027. These unsecured, unsubordinated notes pay a contingent coupon only if AMD’s closing level on an observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period. If AMD’s level on any observation date before maturity is at or above the initial level, the notes are automatically called and investors receive the $10 principal per note plus any due coupon, with no further payments.
If the notes are not called and AMD’s final level on the November 24, 2027 valuation date is at or above the downside threshold, investors get back principal at maturity, plus any final coupon if the barrier is met. If the final level is below the downside threshold, the maturity payment is reduced in line with AMD’s decline, and investors can lose some or all of their investment. An example structure uses a 26.99% per annum contingent coupon rate. The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.81 per $10 note. All payments depend on UBS’s credit and the notes will not be listed on any exchange.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation, maturing on November 30, 2026. 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.
The Notes are automatically called early if the stock closes at or above its initial level on any observation date before maturity, in which case holders receive the $10 principal per Note plus the contingent coupon due and no further payments. If not called and the final stock level is at or above the downside threshold, principal is repaid at maturity; if it is below, repayment is reduced in line with the stock’s decline and can fall to zero.
All payments depend on the creditworthiness of UBS, and the Notes are unsecured, unsubordinated obligations that are not FDIC insured or exchange‑listed. The minimum investment is 100 Notes ($1,000), and the estimated initial value is $9.76 per $10 Note based on UBS internal pricing models.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., maturing on November 30, 2026. These unsecured debt notes pay a contingent coupon only when Amazon’s stock closes at or above a specified coupon barrier on an observation date.
The notes can be automatically called early if Amazon’s stock closes at or above the initial level on any observation date before maturity. In that case, investors receive the principal plus the applicable contingent coupon on the call settlement date and no further payments.
If the notes are not called and Amazon’s final stock level is at or above the downside threshold, investors receive full principal at maturity; if it is below the threshold, repayment is reduced in line with the stock’s decline, and the entire investment can be lost. Payments depend on UBS’s creditworthiness, the notes will not be listed on an exchange, the minimum investment is $1,000, and the estimated initial value per $10 note is $9.79.
UBS AG is offering $293,000 of Trigger Autocallable Contingent Yield Notes linked to Rivian Automotive, Inc. stock, maturing on November 28, 2028. These unsecured debt notes pay a contingent coupon only when Rivian’s closing stock price on an observation date is at or above a coupon barrier set at $50.00, which is 50.00% of the initial level in the hypothetical examples. The notes can be automatically called early if the stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per Note plus the applicable coupon and no further payments.
If the notes are not called and Rivian’s stock is at or above the downside threshold of $50.00 at maturity, investors receive full principal back and any final contingent coupon. If the final stock level is below the downside threshold, the maturity payment is reduced in line with the stock’s percentage loss, and investors can lose all of their investment. The contingent coupon rate in the hypothetical examples is 22.74% per year, but all payments depend on Rivian’s share performance and UBS’s creditworthiness. The estimated initial value of each $10 Note is $9.59, and the notes will not be listed on any exchange.
UBS AG is offering $700,000 Trigger Autocallable Contingent Yield Notes linked to the common stock of Amazon.com, Inc., scheduled to mature on May 28, 2027. These unsecured debt obligations may pay periodic contingent coupons, but only if Amazon’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 will be automatically called early if Amazon’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 Amazon’s final level is at or above a downside threshold, investors receive their principal at maturity; if it is below that threshold, repayment is reduced in line with the share price decline and losses can reach 100% of the invested amount.
The Notes are subject to UBS’s credit risk and are not listed on any exchange. The minimum investment is 100 Notes at $10 each, and the estimated initial value is $9.82 per $10 Note, based on UBS’s internal pricing models.
UBS AG is offering $1,200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Target Corporation (TGT), maturing on May 25, 2028, at $1,000 per Note. The Notes pay a 13.00% per annum contingent coupon (about $10.8333 per month per Note) only when Target’s closing price on an observation date is at or above the coupon barrier of $51.88, which is 62.00% of the $83.68 initial level.
The Notes can be automatically called on monthly dates starting about six months after issuance if Target’s closing price is at or above the call threshold of $83.68 (100% of the initial level). In that case, investors receive the $1,000 principal plus the applicable contingent coupon and the Notes terminate early.
If the Notes are not called and Target’s final level on the May 22, 2028 final valuation date is at or above the downside threshold of $51.88, UBS repays the $1,000 principal per Note (plus any final coupon if the barrier is met). If the final level is below $51.88, repayment is reduced in line with Target’s percentage decline, and investors can lose up to 100% of principal. Any payment depends on the creditworthiness of UBS. The estimated initial value is $969.20 per Note, below the $1,000 issue price.
UBS AG is offering $9,900,000 of Contingent Income Auto-Callable Securities due November 27, 2028, linked to the common stock of NextEra Energy, Inc. These unsecured notes may pay a contingent coupon of $26.25 per $1,000 (10.50% per annum) on each quarterly determination date if the stock closes at or above the downside threshold level of $62.61, which is 75.00% of the $83.48 initial price.
If on any non-final determination date the stock closes at or above the call threshold level of $83.48, the notes are automatically redeemed at $1,000 plus the contingent coupon. If the notes are not called and the final stock price is below the downside threshold, holders receive a cash amount equal to the exchange ratio times the final price and can lose a significant portion, up to all, of principal.
The securities do not participate in any stock price appreciation, pay no dividends, are not listed on an exchange and carry full credit risk of UBS. The estimated initial value is $965.70 per $1,000, reflecting fees, hedging costs and UBS’ internal funding rate.
UBS AG is offering $2,850,310 of unsecured, unsubordinated autocallable notes linked to an unequally weighted basket of five major equity indices, maturing on November 29, 2028. The basket is weighted 40% EURO STOXX 50, 25% Nikkei 225, 17.5% FTSE 100, 10% Swiss Market Index and 7.5% S&P/ASX 200.
The notes may be automatically called on annual observation dates if the basket level is at or above the call threshold (100% of the initial basket level). If called, investors receive principal plus an 11.10% per annum call return, with call prices ranging from $11.11 to $13.33 per $10 note depending on when they are called. If never called, at maturity investors receive $10 multiplied by 1 plus the basket return, exposing them to full downside of the basket and potential total loss of principal. The estimated initial value is $9.675 per $10 note, and all payments depend on UBS’s creditworthiness.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Tesla, Inc., maturing on or about December 8, 2027. Each Note has a $1,000 denomination and offers a contingent coupon at a rate of 15.55% per annum, paid quarterly only if Tesla’s closing stock price on an observation date is at or above a coupon barrier set at 50% of the initial level. Missed coupons can be paid later under the memory feature if a future observation meets the barrier.
The Notes can be automatically called after six months if Tesla’s stock closes at or above the call threshold, set at 100% of the initial level, in which case investors receive principal plus due and previously unpaid coupons and the Notes terminate. If not called, and Tesla’s final level is at or above the 50% downside threshold at maturity, investors receive full principal. If the final level is below the downside threshold, repayment is reduced one-for-one with Tesla’s decline, and investors can lose some or all of their investment. 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 with Memory Interest, linked to the common stock of Tesla, Inc., maturing on or about December 8, 2027. Each Note has a $1,000 principal amount and pays a 17.25% per annum contingent coupon (about $43.125 per quarter) only if Tesla’s closing price on a quarterly observation date is at or above a coupon barrier set at 50% of the initial level; missed coupons can be paid later via a memory feature if the barrier is later met.
The Notes are automatically called after 6 months or later if Tesla’s price on an observation date is at or above 100% of the initial level, returning principal plus due and unpaid coupons, with no further payments. If not called and Tesla’s final level is at or above the 50% downside threshold, investors receive full principal; if below, repayment is reduced one-for-one with Tesla’s decline, up to a total loss of principal. The Notes are unsecured, unsubordinated debt of UBS, with an estimated initial value between $947.10 and $977.10 per $1,000, and carry both market risk tied to Tesla and UBS credit risk.
UBS AG is offering $972,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index, maturing on October 28, 2027. The Notes pay a contingent coupon at an annual rate of 8.85% (about $7.375 per $1,000 per month) only if, on a monthly observation date, each index closes at or above 70% of its initial level (the coupon barrier, which also serves as the downside threshold).
UBS may call the Notes in whole, beginning after three months, paying back principal plus any due coupon; no further payments would be made after a call. If the Notes are not called and any index finishes below its downside threshold at maturity, investors receive less than the $1,000 principal per Note, with losses matching the negative return of the worst-performing index and potential total loss of principal. The Notes are unsecured obligations of UBS, not FDIC insured, will not be listed on an exchange, and have an estimated initial value of $949.30 per $1,000, reflecting fees and UBS’s internal funding rate.
UBS AG is offering $580,000 of Trigger Callable Contingent Yield Notes, unsecured debt linked to the worst performer of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index, maturing on May 24, 2030. The Notes pay a contingent coupon at an annual rate of 11.75% (about $9.7917 per $1,000 per month) only if on each observation date all three indices are at or above their coupon barriers set at 75% of initial levels. UBS may call the Notes in whole, starting after six months, paying principal plus any due coupon. If not called and any index finishes below its downside threshold at 60% of its initial level, repayment is reduced one-for-one with the worst index’s loss, up to full loss of principal. The issue price is $1,000 per Note, with estimated initial value of $962.30, underwriting discount of $7.50 per Note and net proceeds to UBS of $992.50 per Note.
UBS AG is offering $1,834,000 of Trigger Callable Contingent Yield Notes, unsecured debt linked to the least performing of the Nasdaq-100® Technology Sector IndexSM, the Russell 2000® Index and the S&P 500® Index, maturing on October 28, 2027. Each $1,000 Note pays a 10.35% per annum contingent coupon, due monthly only if on each observation date all three indices close at or above 70% of their initial levels. UBS may call the Notes in whole on any monthly observation date starting after six months, returning principal plus any due coupon, with no further payments. If not called and any index finishes below 60% of its initial level at maturity, repayment is reduced one-for-one with the worst index’s loss and can fall to zero. All payments depend on UBS’s credit; the Notes are not insured and may trade with little or no secondary market. The estimated initial value is $974.90 per $1,000 Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. Each Note has a $1,000 principal amount and a contingent coupon rate of 8.50% per annum, payable monthly only if all three indices close at or above their coupon barriers, set at 70% of their initial levels.
The Notes may be automatically called semiannually if each index is at or above its call threshold level, equal to 100% of its initial level. If called, holders receive principal plus the due coupon and any unpaid coupons under the memory feature. If not called and at maturity any index finishes below its 60% downside threshold, repayment is reduced in line with the worst-performing index, up to a total loss of principal.
The Notes are unsecured, unsubordinated obligations of UBS AG, not deposits and not FDIC-insured. They will not be listed on an exchange and may have limited or no secondary market. The estimated initial value is expected between $931.40 and $961.40 per $1,000 Note, reflecting fees, hedging and UBS’ internal funding rate. Underwriting compensation is $2.50 per Note, with net proceeds to UBS of $997.50 per Note.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000, and S&P 500 indices. Each $1,000 Note can pay a contingent coupon at an annual rate of 11.70% (about $9.75 per month) if on an observation date all three indices are 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 after about three months, returning 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 (also 70% of its initial level), investors lose principal in line with the worst-performing index, up to a total loss. The estimated initial value is between $941.80 and $971.80 per $1,000 Note, and all payments depend on UBS’s credit.
UBS AG is offering $1,396,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on November 29, 2028. The Notes pay a contingent coupon at a rate of 10.80% per annum (or $9.00 per $1,000 Note per period) only if, on each monthly observation date, the closing level of every index is at or above its coupon barrier, set at 75% of its initial level.
UBS may call the Notes in whole, beginning after three months, on any observation date (other than the final one), paying back principal plus any due contingent coupon, after which no further payments are made. If the Notes are not called and each index finishes at or above its downside threshold (70% of its initial level), investors receive full principal at maturity.
If UBS does not call the Notes and any index ends below its downside threshold, the maturity payment is reduced based on the negative return of the worst-performing index, and investors can lose some or all of their principal. All payments depend on the creditworthiness of UBS, and the Notes are not FDIC insured and will not be listed on any exchange.
UBS AG is offering $45,000 of Buffer Autocallable GEARS, unsubordinated, unsecured structured notes linked to the least performing of the Nasdaq-100 Index® and the S&P 500® Index. Each Security has a $1,000 principal amount, a term of about two years, a 10.00% per annum call return rate and 1.50x upside gearing. UBS will automatically call the notes on November 30, 2026 if both indices are at or above their initial levels, paying $1,100 per Security and ending the investment. If not called, at maturity investors receive geared upside if the worst index is above its initial level, full principal if the worst index is at or above its 80% downside threshold, and a proportional loss beyond the 20% buffer, potentially losing almost all principal. The notes pay no interest, are not listed, have an estimated initial value of $985, and all payments depend on UBS’s credit.
UBS AG is offering $3,223,000 of Buffer Autocallable Contingent Yield Notes linked to the least performing of the S&P 500® Index and the Russell 2000® Index, maturing on November 29, 2030. Each $1,000 Note pays a contingent coupon of 6.30% per annum ($5.25 per month) only if, on an observation date, both indices close at or above their coupon barriers, set at 80% of initial level.
The Notes are automatically called monthly starting after 12 months if both indices are at or above their call thresholds, set at 100% of initial level; in that case investors receive principal plus the applicable coupon and the Notes terminate. If not called, principal is protected at maturity only if each index is at or above its downside threshold of 85% of initial level, corresponding to a 15% buffer.
If any index finishes below its downside threshold, repayment is reduced in line with the decline of the worst-performing index beyond the 15% buffer, and investors could lose almost all of their investment. The estimated initial value is $942.00 per $1,000 Note, and all payments depend on the creditworthiness of UBS.
UBS AG is offering $40,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the Solactive U.S. Large Cap Volatility Navigator 40 Index. The Notes pay a 14.00% per annum contingent coupon ($11.6667 per $1,000 note per month) only when the index closes at or above the coupon barrier of 196.81, which is 70.00% of the 281.16 initial level; missed coupons can be paid later under the memory feature.
The Notes are automatically called on a monthly observation date beginning after 12 months if the index is at or above the call threshold level of 281.16 (100.00% of the initial level), returning principal plus the due and any unpaid contingent coupons. If not called and the final index level on November 25, 2030 is at or above the downside threshold of 140.58 (50.00% of the initial level), investors receive full principal back; below that level, repayment is reduced one-for-one with the index decline, and all principal can be lost.
The Notes are unsecured, unsubordinated obligations of UBS AG London Branch, are not listed, and carry UBS credit risk. The estimated initial value is $956.10 per $1,000 note, below the issue price, reflecting fees, hedging costs and UBS’s internal funding rate. Underwriting discounts total $400 on the $40,000 offering, with $39,600 in proceeds to UBS.
UBS AG is offering $822,000 of Trigger Autocallable Notes linked to the least performing of the Russell 2000 Index and the S&P 500 Index, maturing in November 2030. Each $1,000 Note can be automatically called on annual observation dates if both indices are at or above their initial levels, paying a call price that reflects an 8.60% per annum call return. If the Notes are never called and, at maturity, both indices are at or above 65% of their initial levels, investors receive only the $1,000 principal.
If at maturity either index is below its downside threshold, repayment is reduced dollar-for-dollar with the worst index’s percentage loss, and investors can lose their entire investment. The Notes pay no interest, do not provide dividends, and are not exchange-listed, so liquidity may be limited. They are unsubordinated, unsecured obligations of UBS; all payments depend on UBS’s credit, and the estimated initial value is $953.40 per $1,000 Note, below the issue price.
UBS AG is offering $1,798,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq-100® Technology Sector IndexSM and Russell 2000® Index, maturing on May 24, 2030. The Notes pay a 10.90% per annum contingent coupon quarterly only if each index closes at or above its coupon barrier, set at 70% of its initial level; otherwise no coupon is paid.
UBS may call the Notes in whole on any quarterly observation date beginning after six months, returning principal plus any due coupon, with no further payments. If the Notes are not called and any index finishes below its downside threshold at 60% of its initial level, repayment of principal is reduced one-for-one with the worst index’s decline, and investors can lose all of their investment. The Notes are unsecured, unsubordinated obligations of UBS, are not FDIC‑insured, and all payments depend on UBS’s creditworthiness. The estimated initial value is $962.60 per $1,000 Note, below the $1,000 issue price.
UBS AG is offering $370,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 Index, maturing in November 2028. Each $1,000 Note pays a contingent coupon at 8.15% per annum only if, on a monthly observation date, all three indices close at or above their coupon barriers set at 75% of initial levels. UBS can call the Notes in whole, starting after six months, paying principal plus any due coupon.
If the Notes are not called and, at maturity, every index is at or above its downside threshold (70% of its initial level), investors receive full principal back, plus any final coupon if barriers are met. If any index finishes below its downside threshold, repayment is reduced in line with the worst-performing index, and investors can lose up to 100% of principal. The estimated initial value is $934.40 per Note versus a $1,000 issue price, and all payments are subject to UBS’s credit risk.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average®, Nasdaq‑100® Technology Sector IndexSM and Russell 2000® Index, with a term of about 4.5 years and a 10.90% per annum contingent coupon. A quarterly coupon is paid only if on each observation date all three indexes close at or above their coupon barriers, set at 70% of initial levels; otherwise no coupon is paid for that period.
UBS can call the Notes in whole on any quarterly observation date after six months, repaying principal plus any due coupon, ending all future payments. If the Notes are not called and at maturity each index is at or above its downside threshold (60% of initial level), investors receive full principal back; if any index finishes below its downside threshold, repayment is reduced one‑for‑one with the worst‑performing index and can fall to zero. Payments depend on UBS’s credit; default could result in total loss. The issue price is $1,000 per Note, with an estimated initial value between $959 and $989 and a $7.50 per‑Note underwriting discount.