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 $250,000 of Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator Index, maturing on November 19, 2031. Each $1,000 Note pays a contingent coupon at a 17.00% per annum rate (about $14.1667 per month) only if the index closes at or above the 70.00% coupon barrier of the 271.26 initial level on the relevant observation date.
The Notes are automatically called monthly after six months if the index is at or above the 100.00% call threshold, returning principal plus the due coupon. If not called, investors receive full principal at maturity only if the final index level is at or above the 50.00% downside threshold; below that, repayment is reduced in line with the index loss and can fall to zero.
The Notes are unsecured, unsubordinated obligations of UBS, carry UBS credit risk, will not be listed on an exchange, and have an estimated initial value of $957.50 per Note, below the $1,000 issue price due to fees, hedging and funding costs.
UBS AG is offering $300,000 Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Petróleo Brasileiro S.A., due November 17, 2026. These unsecured notes pay contingent coupons only if the ADR’s closing level on an observation date meets or exceeds a coupon barrier. The notes will be automatically called if the ADR closes at or above the initial level on any observation date before the final valuation date, returning principal plus the applicable contingent coupon.
If not called, UBS will repay principal at maturity only if the final level is at or above a downside threshold; otherwise, repayment is reduced in line with the ADR’s decline, and you could lose all of your investment. All payments depend on UBS’s creditworthiness. The notes are offered at $10 per Note (minimum 100 Notes) with an estimated initial value of $9.61 per Note as of the trade date. Key dates: trade date November 13, 2025, settlement November 17, 2025, final valuation date November 13, 2026. The notes will not be listed on an exchange.
UBS AG is offering $137,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., maturing on November 17, 2028. These unsecured, unsubordinated notes pay a contingent coupon only when the underlying closes at or above a coupon barrier on an observation date; otherwise no coupon is paid. The notes are automatically called on any observation date if the underlying closes at or above the initial level, returning principal plus any due coupon.
If not called, principal repayment at maturity is contingent: you receive the principal amount only if the final level is at or above the downside threshold; below that, repayment is reduced one-for-one with the underlying’s decline, up to total loss. All payments are subject to the creditworthiness of UBS. The estimated initial value is $9.53 per $10 note. The notes are not listed. Trade date is November 13, 2025; settlement is November 17, 2025; the final valuation date is November 15, 2028. Minimum investment is 100 notes at $10 per note.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Alaska Air Group common stock, due February 17, 2027. These unsecured, unsubordinated notes pay a contingent coupon only when the underlying stock closes at or above a coupon barrier on an observation date; otherwise no coupon is paid.
The notes may be automatically called on any observation date before maturity if the stock closes at or above the initial level, in which case investors receive the principal plus any due coupon and the notes terminate. If not called, and the final level is at or above the downside threshold at maturity, investors receive principal back; if below, repayment falls in line with the stock’s decline, up to total loss of principal. All payments depend on UBS’s creditworthiness.
Key terms include trade date November 13, 2025, settlement November 17, 2025, final valuation February 12, 2027, and no exchange listing. The estimated initial value is $9.67 per $10 Note. Minimum investment is 100 Notes.
UBS AG launched a preliminary 424B2 for Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Petróleo Brasileiro S.A. The Notes pay contingent coupons only if the ADR’s closing level on an observation date is at or above a coupon barrier, and they may be automatically called if the ADR closes at or above the initial level on any observation date before maturity.
The Notes are expected to trade on a T+2 basis at issuance, have a final valuation date of November 13, 2026 and a maturity date of November 17, 2026. Payments, including any repayment of principal, depend on the creditworthiness of UBS. If not called and the final level is below the downside threshold, repayment at maturity will be reduced in line with the ADR’s decline, up to total loss. The offering is in $10 denominations with a minimum investment of 100 Notes ($1,000). The estimated initial value per Note on the trade date is expected to be between $9.35 and $9.60.
UBS AG is offering $181,000 Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation common stock, due November 17, 2026.
The Notes pay a contingent coupon only when the underlying stock closes at or above a coupon barrier on an observation date. They are automatically called if, on any observation date before maturity, the underlying closes at or above the initial level; in that case, holders receive principal plus the applicable contingent coupon and no further payments. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise, repayment is reduced in line with the underlying’s decline and could be zero.
Key dates include a trade date of November 13, 2025, settlement on November 17, 2025, final valuation on November 13, 2026, and maturity on November 17, 2026. The estimated initial value is $9.82 per $10 Note. Minimum investment is 100 Notes at $10 each. Payments depend on UBS’s credit. The Notes will not be listed on any exchange.
UBS AG is offering preliminary Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., scheduled to mature on November 17, 2028. These unsecured, unsubordinated debt obligations may pay contingent coupons only if the underlying closes at or above a coupon barrier on scheduled observation dates. The notes are subject to an automatic call if the underlying closes at or above the initial level on an observation date prior to maturity.
If not called and the final level is at or above the downside threshold, principal is repaid at maturity; if below, repayment is reduced one-for-one with the underlying’s decline, and investors could lose all principal. All payments depend on the creditworthiness of UBS.
The expected trade date is November 13, 2025, settlement is November 17, 2025, the final valuation date is November 15, 2028, and maturity is November 17, 2028. The estimated initial value per $10 Note is expected to be between $9.31 and $9.56. The notes will not be listed. The minimum investment is 100 Notes at $10 per Note.
UBS AG filed a preliminary 424(b)(2) pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Alaska Air Group, Inc., due on or about February 17, 2027. The Notes pay a contingent coupon only when the underlying closes at or above the coupon barrier on an observation date and are automatically called if the underlying closes at or above the initial level on any observation date before the final valuation date.
If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise, repayment is reduced in line with the underlying’s decline, and investors could lose all principal. Payments depend on UBS’s credit. The Notes are not listed on any exchange.
Key terms include an issue price of $10 per Note (minimum investment 100 Notes), trade date November 13, 2025, settlement November 17, 2025, final valuation February 12, 2027, and an estimated initial value between $9.42 and $9.67 per $10 Note.
UBS AG is offering $400,000 of Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Baidu, Inc., maturing on November 17, 2026. These unsubordinated, unsecured notes pay a contingent coupon only when the Baidu ADR closing level on an observation date meets or exceeds a preset coupon barrier, and may be automatically called early if the ADR level is at or above the initial level on any observation date.
If not called, investors receive the principal at maturity only if the final ADR level is at or above the downside threshold; otherwise, repayment is reduced in line with the ADR’s decline, and a total loss is possible. All payments are subject to the creditworthiness of UBS.
Key dates include trade date November 13, 2025, settlement November 17, 2025, final valuation November 13, 2026, and maturity November 17, 2026. The notes are issued in $10 denominations with a $1,000 minimum. The estimated initial value is $9.78 per note. The notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy Corporation. The notes pay a contingent coupon only if the underlying closes at or above a coupon barrier on an observation date; otherwise no coupon is paid. The notes may be automatically called if the underlying closes at or above the initial level on any observation date before maturity, returning principal plus any due coupon on the call settlement date.
If not called, and the final level is at or above the downside threshold, principal is repaid at maturity. If the final level is below the downside threshold, repayment is reduced in line with the underlying’s decline, and investors could lose all principal. All payments are subject to UBS’s credit. The notes are expected to trade on a T+2 initial settlement with observation dates leading to a final valuation on November 13, 2026 and maturity on November 17, 2026. Minimum purchase is 100 notes at $10 per note. The estimated initial value is expected to be between $9.59 and $9.84. The notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the American depositary receipts of Baidu, Inc. These unsecured notes pay a contingent coupon only if the Baidu ADR closes at or above a coupon barrier on each observation date. The notes may be automatically called early if the ADR closes at or above the initial level on any observation date before the final valuation date.
If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise, repayment is reduced in line with the underlying’s decline and could be zero. All payments depend on UBS’s credit. Key dates include a trade date of November 13, 2025, settlement on November 17, 2025, a final valuation date on November 13, 2026, and maturity on November 17, 2026.
The estimated initial value is expected to be between $9.51 and $9.76 per $10 note. The offering contemplates a minimum purchase of 100 notes at $10 each. The notes will not be listed on any exchange.
UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Intel Corporation, maturing on November 17, 2026. These unsecured debt securities pay a contingent coupon only when Intel’s share price on an observation date is at or above a preset coupon barrier; otherwise, no coupon is paid for that period.
The notes can be automatically called early if Intel’s stock closes at or above the initial level on any observation date before maturity, in which case investors receive the $10 principal per note plus the applicable coupon and the product terminates. If the notes are not called and Intel’s final share level is at or above the downside threshold, investors receive full principal at maturity, potentially plus a final coupon. If the final level is below the downside threshold, repayment is reduced in proportion to Intel’s decline, and investors can lose all of their investment. The notes are offered in minimum denominations of 100 notes at $10 each, and the estimated initial value per note is $9.75, with all payments subject to UBS’s credit risk.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc., due November 17, 2026. The Notes pay a contingent coupon on each observation date only if the Meta share price closes at or above a coupon barrier; otherwise no coupon is paid. The Notes are automatically called early if Meta’s closing level on any observation date before the final valuation date is at or above the initial level; in that case, investors receive principal plus any due coupon and the Notes end.
If not called, and Meta’s final level on November 13, 2026 is at or above the downside threshold, investors receive the $10 principal per Note. If the final level is below the downside threshold, repayment is reduced in line with Meta’s decline, and investors could lose all principal. Payments are subject to UBS credit risk. The Notes will not be listed. Key dates: trade date November 13, 2025, settlement November 17, 2025, maturity November 17, 2026. Minimum investment is 100 Notes at $10 each; the estimated initial value is $9.81 per Note.
UBS AG outlined a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Advanced Micro Devices, Inc., due on or about November 17, 2026. These unsecured debt obligations may pay contingent coupons only when the underlying stock closes at or above a coupon barrier on observation dates, and the notes may be automatically called if the stock closes at or above the initial level on any observation date before maturity.
If not called, holders receive the principal at maturity only if the final level is at or above a downside threshold; otherwise, repayment is reduced in line with the underlying’s decline, and total loss is possible. Payments are subject to UBS credit risk. The notes are offered in $10 denominations with a minimum investment of 100 Notes, and the estimated initial value is expected to be between $9.61 and $9.86. Key dates include trade on November 13, 2025, settlement on November 17, 2025, final valuation on November 13, 2026, and maturity on November 17, 2026.
UBS AG filed a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Eli Lilly and Company. The notes offer contingent quarterly coupons only when the underlying closes at or above a coupon barrier on an observation date, and they may be automatically called early if the underlying closes at or above its initial level on an observation date before maturity.
If not called, holders receive the principal at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced in line with the underlying’s decline, and losses can reach 100%. Payments are subject to UBS’s creditworthiness. Key dates include a trade date of November 13, 2025, settlement on November 17, 2025, final valuation on November 15, 2028, and maturity on November 17, 2028. The notes are offered in a minimum of 100 notes at $10 per note, and the estimated initial value is expected to be between $9.45 and $9.70. The notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, with a stated offering size of $500,000. These unsecured, unsubordinated notes can pay contingent coupons only when the underlying closes at or above a coupon barrier on each observation date. UBS may automatically call the notes early if the underlying closes at or above its initial level on an observation date before maturity.
If not called, holders receive the principal at maturity only if the final level is at or above the downside threshold. If the final level is below the threshold, repayment is reduced in line with the percentage decline of the underlying, and losses can be total. All payments are subject to the creditworthiness of UBS.
Key dates include a trade date of November 13, 2025, settlement on November 17, 2025, final valuation on November 15, 2028, and maturity on November 17, 2028. The notes are offered in minimums of 100 notes at $10 per note and will not be listed. UBS estimates the initial value at $9.76 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc., issued under a 424(b)(2) prospectus framework. These unsubordinated, unsecured notes can pay contingent coupons only when the underlying closes at or above a coupon barrier on each observation date; otherwise, no coupon is paid. The notes may be called early if the underlying closes at or above the initial level on any observation date before maturity.
If not called, and the final level on the final valuation date is at or above the downside threshold, investors receive the principal at maturity; if below, repayment is reduced one-for-one with the underlying’s decline, and total loss is possible. All payments are subject to the creditworthiness of UBS.
Key dates: trade date November 13, 2025; settlement November 17, 2025; final valuation November 13, 2026; maturity November 17, 2026. The notes will not be listed. The offering specifies a minimum investment of 100 Notes at $10 per Note. UBS expects the estimated initial value per Note, as of the trade date, to be between $9.54 and $9.79.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, maturing on or about November 17, 2028. These unsecured, unsubordinated debt obligations may pay contingent coupons only when the underlying closes at or above a coupon barrier on the relevant observation date, and the Notes may be automatically called if the underlying closes at or above the initial level on any observation date before maturity.
If not called, repayment of principal at maturity is contingent on the final level being at or above the downside threshold; otherwise, repayment is reduced one-for-one with the underlying’s decline, and investors could lose all principal. Payments depend on the creditworthiness of UBS. The Notes are expected to settle T+2 after the trade date, will not be listed on any exchange, and have an estimated initial value expected to be between $9.48 and $9.73 per $10 Note. The offering has a minimum investment of 100 Notes at $10 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vertiv Holdings Co, with a scheduled maturity around May 14, 2027. These unsecured debt notes can pay a contingent coupon on each observation date only if Vertiv’s share price is at or above a preset coupon barrier.
The notes may be automatically called quarterly, beginning after six months, if Vertiv’s share price is at or above the initial level, in which case investors receive principal plus any due coupon and the product ends early. If the notes are not called and Vertiv’s final share price is at or above the downside threshold, investors receive back principal (and any final coupon). If the final share price is below the downside threshold, repayment is reduced in line with Vertiv’s decline, and investors can lose all of their initial investment. Any payment depends on UBS’s credit, and the notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about November 15, 2027. These are unsecured, unsubordinated debt obligations of UBS.
Investors may receive periodic contingent coupons, but only if Micron’s share price on each observation date is at or above a preset coupon barrier. The notes are automatically called early if Micron’s share price on any observation date (before the final one) is at or above the initial level, in which case investors receive principal plus the applicable coupon and no further payments.
If the notes are not called and Micron’s final share price is at or above a downside threshold, investors receive only their principal back at maturity. If the final price is below that threshold, repayment is reduced in line with Micron’s decline, and investors can lose all of their initial investment. All payments depend on UBS’s credit. The notes are not listed, have a minimum investment of 100 notes at $10 per note, and their estimated initial value is expected to be between $9.31 and $9.56 per note.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of lululemon athletica inc., maturing November 15, 2027. These unsecured debt securities pay a contingent coupon only if lululemon’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period. The notes can be 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 any due coupon, and the product terminates.
If the notes are not called and lululemon’s closing price on the final valuation date is at or above a downside threshold, investors receive the full principal back at maturity. If the final price is below the downside threshold, repayment is reduced in line with the stock’s percentage decline from the initial level, and investors can lose all of their principal. The notes are not listed, have a minimum investment of 100 notes at $10 each, and carry UBS credit risk; the estimated initial value is $9.75 per $10 note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on November 15, 2027. The Notes pay a contingent coupon only if Vistra’s share price on an observation date is at or above a preset coupon barrier; if it is below, no coupon is paid for that period.
The Notes are automatically called early if Vistra’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 Vistra’s final share price is at or above a downside threshold, principal is repaid at maturity. If the final share price is below the downside threshold, repayment is reduced in line with Vistra’s percentage decline, and investors can lose all of their investment.
Payments on the Notes, including any repayment of principal, depend on the creditworthiness of UBS AG. The Notes are not bank deposits, are not insured, will not be listed on an exchange, and have an estimated initial value of $9.67 per $10 principal amount, based on UBS’ internal pricing models.
UBS AG is offering preliminary terms for Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on or about November 13, 2026. These are unsecured, unsubordinated debt obligations of UBS.
Holders receive a contingent coupon only if Micron’s closing share price on an observation date is at or above a specified coupon barrier. The Notes are automatically called if Micron’s price on any observation date before maturity is at or above the initial level, in which case investors receive the principal plus the relevant coupon and the Notes terminate early.
If the Notes are not called and Micron’s price on the final valuation date is at or above the downside threshold, investors receive back the principal, plus any final coupon if the coupon barrier is met. If the final price is below the downside threshold, repayment is reduced in line with the percentage decline in Micron’s stock and can fall to zero. All payments depend on UBS’s credit, and the Notes are not listed. The minimum investment is 100 Notes at $10 each. The estimated initial value per $10 Note is expected between $9.53 and $9.78.
UBS AG is offering preliminary terms for Trigger Autocallable Contingent Yield Notes linked to the common stock of Vistra Corp., maturing on or about November 15, 2027. These are unsubordinated, unsecured debt obligations of UBS, not bank deposits and not FDIC insured.
Investors receive a contingent coupon only on dates when Vistra’s closing share price is at or above a preset coupon barrier. If on any observation date before maturity Vistra’s share price is at or above the initial level, the Notes are automatically called and pay back the $10 principal per Note plus the applicable contingent coupon, with no further payments.
If the Notes are not called and Vistra’s final share price on the November 11, 2027 valuation date is at or above a downside threshold, UBS repays the $10 principal per Note at maturity, with a final contingent coupon if the coupon barrier is also met. If the final share price is below the downside threshold, repayment is reduced in line with the stock’s decline, and investors can lose most or all of their investment. All payments depend on UBS’s credit, and the Notes are not expected to be listed on any exchange. The minimum investment is 100 Notes at $10 each, and the estimated initial value is expected between $9.47 and $9.72 per Note.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Oracle Corporation, scheduled to mature on or about November 15, 2027. These unsecured debt securities can pay high contingent coupons, such as a hypothetical 21.01% per annum (or $0.5253 per $10 note per quarter), but only when Oracle’s share price on an observation date is at or above a set coupon barrier, shown in the examples as $70.00, or 70.00% of the initial level.
The notes may be automatically called early if Oracle’s closing level on any observation date before maturity is at or above the initial level, in which case investors receive principal plus the applicable coupon and the product terminates. If the notes are not called and Oracle’s final level is at or above the downside threshold (illustrated as the same $70.00), principal is repaid; if it is below that threshold, repayment is reduced in line with Oracle’s percentage decline, and investors could lose their entire investment. All payments depend on the creditworthiness of UBS, and the notes will not be listed on any exchange.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Halliburton Company common stock, due November 15, 2027. These unsecured, unsubordinated notes pay a contingent coupon on each observation date only if Halliburton’s closing level is at or above a coupon barrier; otherwise no coupon is paid. The notes will be automatically called on any observation date before maturity if the underlying closes at or above its initial level, returning principal plus any due coupon on the related call settlement date.
If not called, and the final level is at or above the downside threshold, holders receive the $10 principal at maturity; if below, repayment falls in line with the underlying’s decline, up to a total loss. Payments are subject to the creditworthiness of UBS. The notes will not be listed. The estimated initial value is $9.74 per note as of the trade date, versus a $10 issue price. The minimum investment is 100 Notes at $10 per Note. Key dates include trade on November 11, 2025 and settlement on November 13, 2025.
UBS AG is offering $285,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., maturing on November 13, 2028. These unsecured debt notes pay a contingent coupon only if Dow’s closing share price on a quarterly observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes can be called early: if Dow’s share price on any observation date (starting after 6 months) is at or above the initial level, UBS will repay the $10 principal per Note plus any due coupon, and the product terminates. If the notes are not called and Dow’s final level is at or above the downside threshold, investors receive their principal back at maturity. If the final level is below the downside threshold, repayment is reduced in line with Dow’s decline, and investors can lose all of their investment.
Any payments depend on UBS’s creditworthiness, the notes are not insured or exchange‑listed, the minimum investment is 100 Notes ($1,000), and the estimated initial value is $9.54 per $10 Note.
UBS AG is offering $220,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc., maturing on November 15, 2027. These unsecured debt securities pay a contingent coupon only if CrowdStrike’s share price on each observation date is at or above a preset coupon barrier; otherwise no coupon is paid for that period.
The notes are automatically called early if the share price on any observation date before maturity is at or above the initial level, in which case holders receive the $10 principal per Note plus the contingent coupon for that period and no further payments. If the notes are not called and the final share level is at or above the downside threshold, investors receive their principal back at maturity, potentially with a final coupon.
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 initial investment. Any payment depends on the creditworthiness of UBS. The notes are not listed, require a minimum purchase of 100 Notes at $10 each, and have an estimated initial value of $9.79 per Note.
UBS AG is offering $200,000 of Trigger Autocallable Contingent Yield Notes linked to Snowflake Inc.’s common stock, due November 15, 2027. The notes 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. The notes will be automatically called early if the underlying closes at or above the initial level on any observation date before the final valuation date, returning principal plus any due coupon on the related call settlement date.
If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced one-for-one with the underlying’s decline, and investors could lose all principal. Payments are unsecured and subject to UBS credit risk. Key dates: trade date November 11, 2025; settlement November 13, 2025; final valuation November 11, 2027; maturity November 15, 2027. The notes are offered at $10 per Note (minimum 100 Notes) and are not exchange-listed. The estimated initial value is $9.80 per $10 Note.
UBS AG is offering $300,000 of Trigger Autocallable Contingent Yield Notes linked to Comcast common stock, maturing on November 13, 2026. The notes pay contingent coupons only if Comcast’s closing 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 Comcast’s price on any observation date before maturity is at or above the initial level, in which case investors receive the $10 principal per note plus any due coupon and no further payments. If the notes are not called and Comcast’s final level is at or above a downside threshold, investors receive full principal back; if it is below that threshold, repayment is reduced in line with the stock’s decline and can fall to zero.
The notes are unsecured, unsubordinated obligations of UBS, not listed on any exchange, and not FDIC-insured. The minimum investment is 100 notes at $10 each. The estimated initial value is $9.71 per $10 note, reflecting UBS’s internal pricing and funding costs.
UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of American Airlines Group Inc., maturing on November 13, 2028. These unsecured debt obligations pay a contingent coupon only when the stock closes at or above a preset coupon barrier on an observation date; otherwise no coupon is paid for that period.
The notes may be called early each month beginning after six months if the stock closes at or above its initial level, in which case investors receive the principal plus any due coupon and no further payments. If the notes are not called and the stock on the final valuation date is at or above a downside threshold, investors receive full principal back; if it is below that threshold, repayment is reduced in line with the stock’s decline and losses can reach 100% of the investment.
The minimum investment is 100 notes at $10 each, and the estimated initial value is $9.67 per $10 note based on UBS internal models. All payments depend on the creditworthiness of UBS, and the notes are not FDIC-insured or exchange-listed.
UBS AG is offering Phoenix Autocallable Buffer Notes with Memory Interest linked to the common stock of Caterpillar Inc. The notes are unsecured debt of UBS with a principal amount of $1,000 per note and a term of about 54 weeks, maturing on or about December 2, 2026, unless called earlier.
Investors may receive a fixed contingent interest payment of at least $41.00 per note on each quarterly interest payment date if Caterpillar’s share price on the related observation date is at or above an interest barrier set at 85% of the initial price. Missed coupons can be paid later if the barrier is met, via a “memory” feature. The notes are automatically called if the stock closes at or above the initial price on any autocall observation date, returning principal plus due and previously unpaid coupons.
If the notes are not called and Caterpillar’s final share price is at or above a downside threshold equal to 85% of the initial price, investors receive full principal back plus any due coupons. If the final price is below the downside threshold, investors receive a cash amount tied to a share formula that can be substantially less than principal, resulting in partial or total loss. All payments depend on the creditworthiness of UBS, and the notes will not be listed on an exchange.
UBS AG is offering $1,585,000 of Capped Market-Linked Notes linked to the Nasdaq-100 Index, due May 12, 2027. The notes are issued at $1,000 per note and do not pay interest. At maturity, investors receive principal plus the lesser of the index’s positive return or a 13.50% maximum gain; if the index return is zero or negative, repayment is principal plus the greater of the index return or a -5.00% minimum return, meaning losses are capped at 5%.
The initial level is 25,059.81, the final valuation date is May 7, 2027, and the estimated initial value is $994.00 per note. Underwriting discount is $3.00 per note, for total proceeds to UBS of $1,580,245. Any payment depends on UBS’s credit; the notes are unsecured, unsubordinated obligations and will not be listed on an exchange.
UBS AG priced $457,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, due November 8, 2030. The Notes pay a 9.25% per annum contingent coupon on quarterly observation dates only if each index closes at or above its coupon barrier.
UBS may call the Notes in whole on any observation date beginning after 6 months; if called, holders receive the $1,000 principal per Note plus any due coupon. If not called and, at maturity, each index is at or above its downside threshold, holders receive the $1,000 principal. If any index is below its downside threshold, the maturity payment falls in line with the negative return of the least performing index, which can result in a full loss of principal.
Initial levels and barriers: INDU 47,311.00 (barrier/threshold 33,117.70), RTY 2,464.780 (1,725.346), SPX 6,796.29 (4,757.40). The estimated initial value is $966.50 per Note. Underwriting compensation is $2.50 per Note; proceeds to UBS are $997.50 per Note. All payments are subject to UBS credit.
UBS AG is offering $2,151,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of Meta (META), Microsoft (MSFT) and Super Micro Computer (SMCI), maturing on October 27, 2028.
The Notes pay a 25.00% per annum contingent coupon ($20.8333 per month) only if each stock is at or above its coupon barrier on an observation date; missed coupons can be paid later under the memory feature. The Notes are automatically called after 12 months if each stock is at or above its call threshold (100% of initial levels: META $738.36; MSFT $523.61; SMCI $48.29). Coupon barriers and downside thresholds are 60% of initial levels (META $443.02; MSFT $314.17; SMCI $28.97). If not called, principal is repaid at maturity only if each final level is at or above its downside threshold; otherwise repayment is reduced in line with the worst performer. The estimated initial value is $983.80 per $1,000 Note. The Notes are unsecured obligations of UBS, will not be listed, and all payments depend on UBS’s credit.
UBS AG filed a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc., maturing on or about November 6, 2028.
The Notes pay a contingent coupon only if the underlying closes at or above a stated coupon barrier on each observation date. They are subject to automatic call if the underlying closes at or above the initial level on any observation date before maturity, in which case investors receive principal plus any due coupon and no further payments. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise repayment is reduced in line with the underlying’s decline, and losses could be total. All payments depend on the creditworthiness of UBS.
The estimated initial value is expected to range from $9.45 to $9.70 per $10 Note. The Notes will not be listed. Key dates: trade October 31, 2025, settlement November 4, 2025, final valuation November 2, 2028, maturity November 6, 2028. The minimum investment is 100 Notes at $10 per Note.
UBS AG announced preliminary terms for Trigger Autocallable Contingent Yield Notes linked to Lam Research Corporation common stock, due on or about November 4, 2027. The notes pay a contingent coupon only if the underlying closes at or above the coupon barrier on each observation date; they are automatically called if the underlying closes at or above the initial level on any observation date before the final valuation date.
If not called, holders receive the principal at maturity only if the final level is at or above the downside threshold; otherwise, repayment is reduced in line with the underlying’s decline and could be zero. Payments are subject to the creditworthiness of UBS. Key dates: expected trade date October 31, 2025; settlement November 4, 2025; final valuation November 2, 2027; maturity November 4, 2027. The notes will not be listed. Minimum investment is 100 notes at $10 each (representing $1,000). The estimated initial value per $10 note is expected to be between $9.50 and $9.75. The document includes hypothetical examples (e.g., a 15.41% per annum coupon and 70% barriers) for illustration only.
UBS AG launched a primary offering of $17,024,400 Buffer Autocallable GEARS linked to the Russell 2000 Index. Each Security is priced at $10, with a $0.25 underwriting discount and $9.75 in proceeds to UBS. The minimum purchase is 100 Securities ($1,000). The notes do not pay interest and will not be listed.
The product may be automatically called on November 5, 2026 if the index closes at or above the autocall barrier set at 100.00% of the initial level (2,484.805). If called, holders receive the call price of $11.00 per Security (reflecting a 10.00% per annum call return). If not called, at maturity on November 1, 2028, repayment depends on index performance: positive returns are multiplied by 1.50 upside gearing; principal is repaid if the final level is at or above the downside threshold of 90.00% (2,236.325); otherwise losses begin beyond the 10.00% buffer.
The estimated initial value is $9.71 per Security, below the $10 issue price. Any payment is subject to the creditworthiness of UBS, and Swiss resolution powers could affect recoveries. The Securities are not deposits and are not FDIC insured.
UBS AG plans to offer Trigger Autocallable Contingent Yield Notes linked to Intel Corporation common stock, unsecured and unsubordinated obligations of UBS. Coupons are paid only if the stock closes at or above a coupon barrier on quarterly observation dates, and the notes are automatically called if the stock closes at or above the initial level on an observation date before maturity.
If not called, and the final level is at or above the downside threshold, investors receive the principal at maturity; if below, repayment is reduced in line with the stock’s decline, up to a total loss. All payments depend on UBS’s credit. Key dates include a final valuation date on October 26, 2028 and maturity on October 30, 2028. The offering price is $10 per Note with a minimum investment of 100 Notes. The estimated initial value is expected to be between $9.46 and $9.71 per Note. The Notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc., maturing on October 30, 2028. These are unsubordinated, unsecured debt obligations of UBS.
Contingent coupons are paid only if the underlying stock closes on an observation date at or above the coupon barrier. The notes auto‑call if the underlying closes at or above the initial level on any observation date before the final valuation date; upon call, you receive the principal plus any due coupon and the notes terminate. If not called, you receive the principal at maturity only if the final level is at or above the downside threshold. If the final level is below the downside threshold, your repayment is reduced one‑for‑one with the stock’s decline, and you could lose your entire investment.
The notes are subject to UBS credit risk, will not be listed, and initially settle T+2. The estimated initial value is $9.68 per Note. The minimum investment is 100 Notes at $10 per Note. Key dates: trade October 27, 2025, settlement October 29, 2025, final valuation October 26, 2028, maturity October 30, 2028.
UBS AG is offering $725,000 of Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. common stock, due October 29, 2026. These unsubordinated, unsecured notes pay a contingent coupon only when the underlying closes at or above a coupon barrier on observation dates, and may be automatically called if the underlying closes at or above its initial level before maturity.
If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise, repayment is reduced in line with the underlying’s decline, and you could lose all of your investment. Any payment depends on the creditworthiness of UBS. The notes will not be listed. Key dates: trade October 27, 2025, settlement October 29, 2025, final valuation October 27, 2026, maturity October 29, 2026. Minimum investment is 100 Notes at $10 per Note. The estimated initial value is $9.87 per Note.
UBS AG filed a preliminary pricing supplement for Trigger Autocallable Contingent Yield Notes linked to the common stock of First Solar, Inc., due on or about October 29, 2026. These unsecured debt obligations pay a contingent coupon only if the underlying closes at or above a coupon barrier on observation dates, and may be called early if the underlying closes at or above the initial level before the final valuation date.
If not called, at maturity investors receive the principal amount only if the final level is at or above the downside threshold; otherwise they incur a loss proportionate to the underlying’s decline and could lose all principal. All payments are subject to the creditworthiness of UBS. The trade date is October 27, 2025, settlement is expected October 29, 2025, the final valuation date is October 27, 2026, and maturity is October 29, 2026.
The Notes are offered in $10 denominations with a minimum investment of 100 Notes. The estimated initial value per Note is expected to be between $9.56 and $9.81. The Notes will not be listed on any exchange. Initial settlement is T+2, which may require alternative arrangements for secondary trades that typically settle T+1.
UBS AG is offering $286,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the SPDR S&P Regional Banking ETF (KRE), the Russell 2000 Index (RTY) and the S&P 500 Index (SPX), due September 28, 2027. The Notes pay a contingent coupon of 11.35% per annum only if, on each monthly observation date, the closing level of each underlying is at or above its coupon barrier.
UBS may call the Notes in whole on any monthly observation date beginning after 3 months, paying the $1,000 principal per Note plus any due coupon. If not called, investors receive $1,000 at maturity only if the final level of each underlying is at or above its downside threshold; otherwise, the repayment is reduced by the negative return of the least performing underlying and could be zero. Barriers and thresholds are set at 70.00% of initial levels: KRE $42.13, RTY 1,737.860, SPX 4,716.91.
The issue price is $1,000 per Note, and the estimated initial value is $969.70. Observation dates are monthly; the Notes are not listed. All payments are subject to the creditworthiness of UBS.
UBS AG launched a preliminary 424B2 for Trigger Autocallable Contingent Yield Notes linked to the Solactive U.S. Large Cap Volatility Navigator Index. The Notes offer 17.50% per annum contingent coupons when the index closes at or above the coupon barrier on monthly observation dates and may be automatically called after six months if the index is at or above the call threshold (100% of the initial level).
The Notes mature on or about October 29, 2031. If not called, principal is repaid at maturity only if the final index level is at or above the downside threshold (50% of the initial level); otherwise, repayment is reduced one-for-one with the index decline. The index includes a 6.0% per annum decrement, targets 35% volatility, and can use leverage up to 500%.
Per-Note economics: issue price $1,000; estimated initial value $934.40–$964.40; underwriting compensation $2.50; proceeds to UBS $997.50; a separate $7.50 marketing fee may apply. The Notes are unsecured obligations of UBS and will not be listed.
UBS AG filed a 424B2 preliminary pricing supplement for Conversion Yield Notes maturing on or about April 24, 2026, linked to the clean price of the 20‑Year U.S. Treasury Bond (4.875% due Aug 15, 2045). The Notes pay a 7.70% per annum coupon on the maturity date regardless of the bond’s performance.
At maturity, if the bond’s final clean price is at least the initial clean price, investors receive the $1,000 principal per Note. If it is lower, UBS will deliver a physical delivery amount of the bond equal to $1,000 divided by the conversion price (initial clean price plus 0.9157% UST accrued interest), with cash for any fraction; this is expected to be worth less than principal. The Notes are unsubordinated, unsecured obligations of UBS and are not listed.
Economics per Note: issue price $1,000, underwriting discount $5, and proceeds to UBS $995. The estimated initial value is expected between $959.40 and $989.40. Key dates: trade Oct 21, 2025, settlement Oct 24, 2025, final valuation Apr 17, 2026, maturity Apr 24, 2026. Early redemption may occur upon defined underlying asset acceleration events.
UBS AG is offering $1,473,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, the Russell 2000 Index and the Energy Select Sector SPDR Fund, due October 20, 2028. The notes pay a contingent coupon at 11.90% per annum (about $9.9167 per $1,000 monthly) only if, on each observation date, all underlying assets close at or above their coupon barriers.
UBS may call the notes on any monthly observation date after 6 months; if called, investors receive principal plus any due coupon and no further payments. If not called, investors receive principal at maturity only if each final level is at or above its downside threshold (60% of initial); otherwise, the payoff is reduced by the decline of the least performing asset, and losses can be total. Initial levels/barriers: NDX 24,817.95/75%/60%; RTY 2,452.173/75%/60%; XLE $85.98/$64.49/$51.59.
Issue price is $1,000 per note; the estimated initial value is $977.70. The notes will not be listed and all payments are subject to UBS credit risk.
UBS AG is offering $3,681,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Dow Jones Industrial Average, the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. The Notes pay a contingent coupon of 11.75% per annum (scheduled at $9.7917 per Note per monthly observation) only if each index closes at or above its coupon barrier on the observation date. UBS may call the Notes at its discretion on any monthly observation date beginning after 3 months, returning principal plus any due coupon.
If the Notes are not called and each index finishes at or above its downside threshold at maturity on September 22, 2027, investors receive principal back. If any index finishes below its downside threshold, repayment is reduced one-for-one with the decline of the least performing index, up to total loss of principal. Barriers and thresholds are set at 70.00% of the initial levels (INDU 32,333.43; NDXT 8,902.00; RTY 1,716.521). The estimated initial value is $983.60 per Note. The Notes are unsubordinated, unsecured obligations of UBS, will not be listed, and all payments are subject to UBS’s credit.
UBS AG is offering $973,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Meta Platforms, Inc. common stock, maturing on October 19, 2028.
The notes pay a 10.25% per annum contingent coupon ($25.625 per quarter) only if META’s closing level on an observation date is at or above the coupon barrier $462.85 (65% of the initial level). They are automatically called on a quarterly date (beginning after 6 months) if META closes at or above the call threshold $712.07 (100% of initial), returning principal plus any due and previously unpaid coupons. If not called, principal is repaid at maturity only if META’s final level is at or above the downside threshold $462.85; otherwise, repayment is reduced one-for-one with META’s decline.
Per note economics: $1,000 issue price; underwriting discount $15; proceeds to UBS $985; estimated initial value $974.20. The notes are unsecured and subject to UBS credit risk and will not be listed on an exchange.
UBS AG is offering Contingent Income Callable Securities linked to the S&P 500 Index, totaling $10,317,000 at $1,000 per security. The notes can pay $20.00 per determination date (equivalent to 8.00% per annum) if the index closes at or above the coupon barrier of 5,303.26, which is 80.00% of the initial index level of 6,629.07.
UBS may call the notes on any determination date (except the final one) regardless of index level, returning principal plus any due contingent payment. If not called and the final index level is below 5,303.26, repayment is reduced one-for-one with the index decline, and investors could lose all principal. If the final index level is at or above the downside threshold, investors receive principal plus the final contingent payment. These are unsecured, unsubordinated obligations of UBS and are subject to UBS credit risk. The estimated initial value is $975.70 per note; total selling concessions equal 1.50%, with proceeds to UBS of 98.50%.
UBS AG is offering $280,000 of Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation common stock, due October 22, 2026. These unsecured, unsubordinated notes pay a contingent coupon only if the Oracle share price on each observation date meets or exceeds a coupon barrier; otherwise no coupon is paid for that period. The notes may be automatically called prior to maturity if the share price is at or above the initial level on an observation date, returning principal plus any due coupon on the related call settlement date.
If the notes are not called and Oracle’s final level is at or above the downside threshold, principal is repaid at maturity; if below, repayment is reduced in line with the underlying’s decline, up to a total loss of principal. Payments depend on UBS’s credit. The notes are not listed. Minimum investment is 100 notes at $10 each. The estimated initial value is $9.79 per note. Key dates: trade date October 20, 2025; settlement October 22, 2025; final valuation October 20, 2026; maturity October 22, 2026.