ETRACS Alerian MLP Index ETN Series B due July 18, 2042 424B Filings

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc. with a trade date of April 20, 2026 and a maturity on or about April 24, 2028. The notes pay a contingent coupon only if the underlying closing level on an observation date equals or exceeds a coupon barrier; otherwise no coupon is paid for that period. The notes will be automatically called early if the underlying closing level on any observation date prior to the final valuation date equals or exceeds the initial level, in which case UBS will pay principal plus any contingent coupon on the related call settlement date. If the notes are not called and the final level is below the downside threshold, principal repayment at maturity is reduced proportionally to the underlying return and investors could lose a significant portion or all of their investment. The estimated initial value range on the trade date is between $9.44 and $9.69 per $10 note. Payments are subject to the creditworthiness of UBS.

UBS AG files a preliminary pricing supplement offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc. The Notes have a principal amount of $10 per Note, a trade date of April 20, 2026, a final valuation date of April 20, 2028, and a maturity date of April 24, 2028. The Notes pay a contingent coupon only if observation-date closing levels meet or exceed the coupon barrier and are subject to an automatic call if the underlying equals or exceeds the initial level on any observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold and is subject to UBS credit risk. The estimated initial value range is $9.42–$9.67 per Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Cigna Corporation, with an expected trade date of April 20, 2026, settlement on April 22, 2026 and maturity on or about April 23, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above the coupon barrier on observation dates and are automatically called early if the underlying closes at or above the initial level on any observation date prior to maturity.

The Notes repay principal at maturity only if the final level is at or above a disclosed downside threshold; if the final level is below that threshold, repayment is reduced pro rata to the underlying return and investors can lose a significant portion or all of their investment. The offering has a $10 principal per Note minimum denomination and an estimated initial value range of $9.36–$9.61 per Note as of the trade date.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to ServiceNow, Inc. common stock due on or about April 23, 2029. The Notes pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates and are automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal is repaid at maturity only if the final closing level is at or above a downside threshold; otherwise holders suffer a loss equal to the underlying return and could lose their entire principal. The Notes are unsecured obligations of UBS AG and repayment is subject to UBS credit risk. The offering has a $10 principal amount per Note, an estimated initial value range of $9.32–$9.57 per Note, and a minimum purchase of 100 Notes ($1,000).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the iShares® Silver Trust, with a scheduled maturity on April 23, 2029. The notes pay contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and will be automatically called if the underlying equals or exceeds the initial level on any quarterly observation date beginning after six months. If not called, principal repayment at maturity is contingent: investors receive $10 per note if the final level is at or above the downside threshold, but will suffer a loss equal to the percentage decline of the underlying if the final level is below that threshold (potentially a total loss). Trade and settlement are expected on April 20, 2026 and April 22, 2026. Terms in the final pricing supplement will be set on the trade date; estimated initial value is between $9.31 and $9.56. Minimum investment is 100 notes ($1,000).

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 with a ~3‑year term and issuer call feature. The notes pay a contingent coupon of 11.50% per annum on an observation date only if each underlying closes at or above its coupon barrier; otherwise no coupon is paid. UBS may call the notes in whole beginning after six months. If not called, principal is repaid at maturity only if each underlying is at or above its downside threshold (70.00% of initial level); otherwise repayment equals $1,000 × (1 + underlying return of the least performing underlying asset), which can produce a substantial loss, including loss of principal. The issue price is $1,000 per Note, total offering $1,836,000, and the estimated initial value per Note is $968.30. All payments are subject to UBS credit risk and limited secondary market liquidity.

UBS AG is offering $947,000 of Trigger Autocallable Contingent Yield Notes linked to Constellation Energy Corporation common stock with a 26.15% per annum contingent coupon rate. The Notes pay contingent coupons only if the underlying stock meets the coupon barrier on quarterly observation dates, may be automatically called if the stock meets the call threshold, and repay principal at maturity only if the final level is at or above the downside threshold; otherwise investors suffer a loss tied to the underlying return. The Notes mature on April 4, 2029, have an initial level of $299.14 and expose holders to UBS credit risk and limited or no secondary-market liquidity.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500. The Notes pay a periodic contingent coupon only if each underlying index closes at or above its coupon barrier on an observation date. UBS may call the Notes in whole on any observation date beginning after six months; if called you receive principal plus any contingent coupon then due. If the Notes are held to maturity and the final level of any underlying asset is below its downside threshold, the cash payment will be reduced pro rata by the negative return of the least performing underlying asset, possibly causing a substantial or total loss of principal. Payments are subject to UBS credit risk. Key provisional terms include an 11.50% per annum contingent coupon rate, expected term of ~3 years, trade date April 16, 2026, settlement April 21, 2026 and maturity April 19, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of UnitedHealth Group with a total issue size of $900,000 and a per‑Note principal of $1,000. The Notes pay a contingent coupon of 18.00% per annum only when the closing level on an observation date is at or above the coupon barrier. The Notes are subject to automatic early redemption if the underlying closes at or above the call threshold (100% of the initial level). At maturity (if not called), principal is returned only if the final level is at or above the downside threshold (80% of the initial level); otherwise principal is reduced in proportion to the underlying return, and investors may lose a substantial portion or all of their investment. All payments depend on UBS creditworthiness. Key dates include trade date April 16, 2026, final valuation date March 29, 2029 and maturity April 4, 2029.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Russell 2000® Index and the S&P 500® Index. The offering totals $6,730,000 at an issue price of $1,000 per Note. Trade date is April 17, 2026, settlement April 22, 2026, final valuation April 17, 2029 and maturity April 20, 2029.

The Notes pay a fixed contingent coupon at a 10.35% per annum rate ($51.75 per semiannual coupon) only if both underlying indices are at or above their coupon barriers on observation dates; unpaid coupons can be paid later under the memory feature. The Notes are automatically called if both indices meet their call thresholds on an observation date, in which case holders receive principal plus due contingent coupons. If not called and the final level of any underlying index is below its 70% downside threshold, principal is reduced proportionally to the decline of the least performing index; in extreme cases, investors could lose their entire principal. All payments are subject to UBS credit risk and there may be little or no secondary market. The estimated initial value per Note is $990.20.

UBS AG is offering three separate issues of Trigger Autocallable Contingent Yield Notes linked to the common stock of Constellation Energy (CEG), Generac (GNRC) and Northrop Grumman (NOC) with maturities April 20, 2029. Each Note pays a contingent coupon only if the underlying closes at or above a coupon barrier on observation dates and is callable quarterly (beginning after six months) if the underlying equals or exceeds a call threshold. At maturity, principal is repaid only if the final level is at or above a downside threshold; otherwise repayment is reduced pro rata to the underlying return and investors may lose a significant portion or all principal. Issue prices are $10 per Note with underwriting discounts of $0.20 per Note; aggregate proceeds to UBS are shown per series.

UBS AG offers $788,000 of Trigger Autocallable Notes linked to the least performing common stock of Salesforce, Inc. and Oracle Corporation. The Notes have a $1,000 principal per Note, a 35.00% per annum call return rate, monthly observation dates beginning after 12 months, a Final Valuation Date of April 17, 2030 and a Maturity Date of April 23, 2030. If an automatic call occurs on any observation date, UBS will pay the applicable call price (principal plus the call return). If not automatically called, repayment at maturity is contingent: full principal is paid only if each underlying asset's final level is at or above its downside threshold (50% of the initial level); otherwise the cash payment equals $1,000 multiplied by 1 + the underlying return of the least performing underlying asset, which can result in a substantial loss or total loss of principal. Payments are subject to UBS credit risk. The estimated initial value on the trade date was $988.10.

UBS AG offers Trigger In-Digital Securities linked to the least performing of the Russell 2000® Index and the S&P 500® Index. The offering totals $1,013,000 at an issue price of $1,000 per Security with a Digital Return of 21.25%. If the least performing underlying asset's final level on April 17, 2028 is at or above its digital barrier (80% of the initial level), each $1,000 Security pays $1,000×(1+21.25%) = $1,212.50 at maturity; if the final level is below that threshold, the payment equals $1,000×(1 + least performing underlying return) and can result in a large loss or a total loss of principal. The Securities pay no interest, have an estimated initial value of $968.30, are unsecured obligations of UBS, and are subject to UBS credit risk and limited secondary-market liquidity.

UBS AG is offering $12,741,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least performing of the Russell 2000® Index and the S&P 500® Index. Each Note has a $1,000 principal amount and a term of approximately 3 years (maturity April 20, 2029), subject to semiannual observation dates and an automatic call feature. The contingent coupon rate is 8.90% per annum (contingent coupon = $44.50 per note per observation when payable). Initial levels and 70% downside thresholds are shown (RTY initial 2,776.900; SPX initial 7,126.06; downside thresholds at 70%). The estimated initial value per Note is $975.90, below the issue price of $1,000. If not called, repayment at maturity is contingent: full principal only if both underlyings finish at or above their downside thresholds; otherwise principal is reduced proportionally to the negative return of the least performing underlying asset. All payments are subject to UBS credit risk and there may be little or no secondary market.

UBS AG is offering Capped GEARS linked to the Russell 2000® Index. Each Security has a $10 principal and an approximately 14-month term with an expected trade date of April 28, 2026, settlement April 30, 2026 and maturity June 30, 2027. The Securities provide leveraged upside through an Upside Gearing of 3.00 subject to a Maximum Gain of 19.45% to 22.45% (Maximum Payment per Security $11.945 to $12.245). If the underlying return is negative you suffer the percentage loss of the underlying, and repayment is subject to UBS creditworthiness. The estimated initial value range is $9.485 to $9.785. The offering is non‑interest bearing, may have limited secondary market liquidity and involves significant conflicts of interest and tax uncertainty.

UBS AG offers $1,500,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000®, the S&P 500® and shares of the State Street® Technology Select Sector SPDR® ETF. The Notes have a principal amount of $1,000 per Note, a contingent coupon rate of 14.80% per annum, monthly observation dates (callable by UBS after three months), an estimated initial value of $987.70 and a maturity date of April 22, 2031. Coupon payments are contingent on each underlying asset closing at or above its coupon barrier on an observation date; principal repayment at maturity is contingent on each underlying asset closing at or above its downside threshold, otherwise repayment is reduced in proportion to the negative return of the least performing underlying asset. All payments are subject to UBS credit risk and UBS may elect to call the Notes in whole on any observation date (beginning after three months).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Delta Air Lines, Inc. The offering totals $1,221,000 at an issue price of $1,000 per note with an estimated initial value of $994.50. The Notes mature on April 4, 2029, pay a contingent coupon of 19.00% per annum only if observation-date closing levels meet the coupon barrier, are automatically called if the underlying equals or exceeds the call threshold (100% of the initial level), and expose investors to full downside market risk at maturity if the final level is below the downside threshold (75% of the initial level). All payments are subject to UBS credit risk and there may be little or no secondary market.

UBS AG priced a $1,011,000 offering of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of The Estée Lauder Companies Inc. The Notes pay a contingent coupon at a 17.56% per annum rate and have an $1,000 principal per Note, trade date April 17, 2026, maturity October 20, 2027.

The Notes are automatically called if the underlying's closing level on an observation date equals or exceeds the call threshold of $76.20 (100% of the initial level). If not called, principal is repaid at maturity only if the final level is ≥ the downside threshold of $45.72 (60% of the initial level); otherwise holders suffer a loss proportional to the underlying return. Payments are subject to UBS credit risk and secondary market liquidity may be limited.

UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Russell 2000Index and the Nasdaq-100Technology Sector, due on or about March 29, 2028. The notes pay a contingent coupon of 10.15% per annum payable only if each underlying asset meets its coupon barrier on observation dates. The notes are callable monthly at UBSAGdiscretion beginning after approximately three months; if called you receive principal plus any contingent coupon then due. If not called and the final level of any underlying asset is below its downside threshold (70.00% of initial level), repayment at maturity may be less than principal, limited to the performance of the least performing underlying asset. Issue price per Note is $1,000.00; underwriting discount up to $22.25 and minimum proceeds per Note to UBS stated as $977.75. The preliminary estimated initial value range is $944.50 to $974.50. The notes are unsecured obligations of UBS and principal and coupon payments are subject to UBScredit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the ordinary shares of Credo Technology Group Holding Ltd, with a contingent coupon of 27.85% per annum and a stated principal amount of $1,000 per Note. Key dates include a trade and strike date of April 28, 2026, expected settlement on April 30, 2026, a final valuation date of April 30, 2029 and maturity on May 3, 2029. The Notes are automatically callable quarterly beginning after six months if the closing level of the underlying equals or exceeds the call threshold (set at 100.00% of the initial level). If not called and the final level is below the downside threshold (set at 50.00% of the initial level), principal at maturity will be reduced pro rata to the underlying return and could result in a total loss. The estimated initial value range is $925.70 to $955.70 per Note and the underwriting discount is $23.50 per Note. Payments, including repayment of principal, are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc. The Notes pay periodic contingent coupons only if the underlying closing level is at or above a coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on any observation date prior to maturity. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, principal repayment is reduced pro rata by the underlying return and you could lose a significant portion or all of your investment. Trade date is April 17, 2026, settlement April 21, 2026, final valuation date April 19, 2027, and maturity April 21, 2027. Estimated initial value per Note on the trade date is $9.76. Payments are subject to UBS credit risk.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology, Inc. stock due April 21, 2028. The Notes pay a periodic contingent coupon only when the underlying closing level on an observation date is at or above the coupon barrier. The Notes will be automatically called early if the underlying closes at or above the initial level on any observation date prior to maturity, in which case investors receive principal plus any contingent coupon due on the call settlement date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment is reduced in proportion to the underlying return and investors could lose a significant portion or all of their investment. All payments are subject to UBS's creditworthiness. Trade and settlement occur in April 2026 and the final valuation and maturity occur in April 2028.

UBS AG priced a $454,000 offering of Trigger Autocallable Contingent Yield Notes linked to Intuit Inc. common stock due April 21, 2027. The Notes pay periodic contingent coupons only if the underlying's closing level on observation dates meets or exceeds the coupon barrier; they are automatically called early if the underlying equals or exceeds the initial level on any observation date. At maturity, if not called and the final level is below the downside threshold, principal repayment is contingent and may result in a loss equal to the underlying return; investors also face UBS credit risk. The Notes have a principal amount of $10 per Note and an estimated initial value of $9.82 per Note as of the trade date.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Dow Inc. The offering totals $2,517,000 and the Notes mature on April 21, 2028 with a final valuation date of April 19, 2028. The Notes pay contingent coupons only if the underlying closes at or above the coupon barrier on observation dates and are automatically called if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise investors suffer a loss equal to the underlying return, potentially losing the full investment. The Notes have a principal amount of $10 per Note, an estimated initial value of $9.76, and are offered in minimum increments of 100 Notes.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Netflix, Inc., with final terms to be set on the trade date and settlement expected April 21, 2026. The one‑year notes mature on April 21, 2027 and include periodic contingent coupons payable only if the underlying meets a coupon barrier and an automatic call if the underlying meets the initial level on an observation date. The notes repay $10 per Note at maturity only if the final level is at or above a disclosed downside threshold; if below, repayment equals $10 times (1 + underlying return), exposing investors to full downside loss. Example terms show a contingent coupon rate of 9.15% per annum (contingent coupon $0.4575 per $10 Note), an estimated initial value range of $9.44 to $9.69, a minimum investment of 100 Notes ($1,000), a downside threshold of $70.00 (70.00% of initial level) and a coupon barrier of $75.00 (75.00% of initial level). These Notes are unsecured obligations of UBS and are subject to UBS credit risk; the pricing supplement is preliminary and "subject to completion."

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. due on or about April 21, 2028. Trade date is April 17, 2026 with settlement on April 21, 2026.

The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and will be automatically called if the underlying equals or exceeds the initial level on any observation date prior to the final valuation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; if the final level is below that threshold, investors suffer a loss equal to the underlying return and could lose their entire investment. Minimum investment is 100 Notes at $10 per Note; the estimated initial value range is $9.42 to $9.67.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Intuit Inc. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level.

The Notes mature on April 21, 2027 with a principal amount of $10 per Note. If not called and the final level is below the downside threshold, principal repayment at maturity will be reduced proportionally to the underlying return (potentially a total loss). Estimated initial value per Note at issuance is between $9.49 and $9.74, and the example contingent coupon shown is 16.15% per annum (≈ $0.4038 per $10 Note per relevant period). Payments depend on UBS creditworthiness.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc., due on or about April 21, 2028. The notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on an observation date. Trade date is April 17, 2026 with expected settlement April 21, 2026. Principal amount is $10 per note, minimum investment 100 notes. The estimated initial value is between $9.39 and $9.64. If not called and the final level is below the downside threshold, repayment at maturity may be less than principal and could result in total loss; all payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Caterpillar Inc. common stock due April 23, 2029. The Notes pay periodic contingent coupons only if the underlying closing level on specified observation dates meets or exceeds the coupon barrier; otherwise no coupon is paid. The Notes are automatically called early if the underlying closing level meets or exceeds the initial level on any observation date prior to the final valuation date, in which case UBS pays principal plus any contingent coupon on the call settlement date and the Notes terminate. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; if the final level is below that threshold, repayment at maturity is reduced proportionally to the underlying return and investors may lose a significant portion or all of their investment. All payments are subject to UBS credit risk. Minimum investment is 100 Notes at $10 per Note; the estimated initial value as of the trade date is $9.71.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Caterpillar Inc. The Notes mature on April 23, 2029, pay contingent coupons only if observation-date levels meet barriers, and may auto-call early if the underlying meets the initial level.

The Notes repay principal at maturity only if the final level is at or above a downside threshold; otherwise principal repayment is reduced proportionally to the underlying return. Payments remain subject to the creditworthiness of UBS. Trade and settlement are expected on April 17, 2026 and April 21, 2026, respectively.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Mattel, Inc. The Notes mature on April 21, 2027 and may pay periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on scheduled observation dates. The Notes will be automatically called early if the underlying stock closes at or above the initial level on any pre-maturity observation date, in which case investors receive principal plus any contingent coupon on the call settlement date. If not called, repayment of principal at maturity is contingent: if the final level is below the downside threshold, investors suffer a loss equal to the underlying return and could lose all principal. Payments are unsecured obligations of UBS and depend on UBS's creditworthiness. The Notes are offered in minimum increments of 100 Notes at $10 per Note and have an estimated initial value of $9.78 as of the trade date.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Mattel, Inc. The Notes have a principal amount of $10 per Note, trade date April 17, 2026, settlement April 21, 2026 and maturity on or about April 21, 2027. Investors receive contingent coupons only when the underlying stock closing level meets or exceeds the coupon barrier on observation dates; early automatic call occurs if the underlying closes at or above the initial level on any pre-final observation date. If not called and the final level is below the downside threshold, principal repayment is reduced proportionally to the underlying return, and investors could lose a significant portion or all of their investment. Minimum initial investment is 100 Notes ($1,000). The estimated initial value range is $9.46–$9.71 per Note, and all payments remain subject to the creditworthiness of UBS AG.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Boston Scientific common stock due April 21, 2027. The Notes pay contingent coupons only if the underlying meets the coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on any observation date. If not called and the final level is below the downside threshold, principal repayment is reduced pro rata to the underlying return, potentially causing substantial or total loss. Payments depend on UBS creditworthiness. Trade date is April 17, 2026, settlement April 21, 2026, final valuation April 19, 2027, maturity April 21, 2027.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Accenture plc common stock due April 21, 2027. The Notes may pay periodic contingent coupons only if the underlying closing level meets the coupon barrier on observation dates and can be automatically called early if the underlying equals or exceeds the initial level on any observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced pro rata to the underlying return, potentially resulting in total loss. All payments are subject to UBS credit risk.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Boston Scientific Corporation, as described in a preliminary pricing supplement dated April 17, 2026. The Notes pay periodic contingent coupons only if the underlying's closing level meets or exceeds a coupon barrier on observation dates and are subject to automatic early call if the underlying meets or exceeds the initial level on an observation date prior to the final valuation date. If not called, principal repayment at maturity is contingent: if the final level is below a stated downside threshold, holders suffer a loss tied to the underlying return and could lose their entire investment. The Notes have a minimum investment of $1,000 (100 Notes at $10 per Note) and an estimated initial value range of $9.47 to $9.72 per Note. All payments, including any contingent coupons or principal, are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Accenture plc, with final terms to be set on the trade date. The notes mature on April 21, 2027, have a principal amount of $10 per note and a minimum investment of 100 notes ($1,000). The preliminary pricing supplement shows a trade date of April 17, 2026 and settlement on April 21, 2026. Examples list an illustrative contingent coupon rate of 11.32% per annum and an estimated initial value range of $9.45 to $9.70 per note. The notes pay contingent coupons only if observation-date closing levels meet or exceed the coupon barrier, are subject to automatic early call if the underlying equals or exceeds the initial level on an observation date, and repay principal at maturity only if the final level is at or above a downside threshold (illustratively $60.00, or 60.00% of the initial level). If the final level is below that threshold, principal is reduced proportionally (an example shows a $3.60 payment per $10 note, a 61.17% loss in that scenario). All payments, including any contingent coupons or principal, are subject to UBS's creditworthiness.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation stock due April 21, 2027. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds a coupon barrier and may be automatically called early if the underlying reaches the initial level. If not called, principal repayment at maturity is contingent: full principal is paid if the final level is at or above the downside threshold; otherwise repayment is reduced pro rata to the underlying return, potentially resulting in substantial or total loss. All payments remain subject to UBS credit risk.

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to Oracle Corporation stock due on or about April 21, 2027. The Notes pay a contingent coupon only when the underlying closing level is at or above a coupon barrier on observation dates and may be automatically called early if the underlying closes at or above the initial level on an observation date. If not called, principal repayment at maturity is contingent on the final level relative to a downside threshold; if the final level is below that threshold, investors will suffer a loss equal to the underlying return, potentially losing their entire investment. The offering has a minimum purchase of 100 Notes at $10 per Note and an estimated initial value range of $9.45 to $9.70 per Note as of the trade date.

UBS AG is offering $4,990,000 of Trigger Autocallable GEARS linked to the Bloomberg Commodity Index 3 Month. The securities have a $10 principal per security, a one-year observation date on April 22, 2027, and a maturity on April 17, 2031 unless automatically called.

If the underlying closes at or above the autocall barrier on the observation date, UBS will automatically call the securities and pay the call price equal to principal plus a 14.20% per annum call return (call price $11.42 per $10 security). If not called, maturity payoffs depend on the underlying return and an upside gearing of 1.3915; a final level below the downside threshold (50.00% of the initial level) exposes holders to losses of principal, potentially to zero. Any payments are subject to UBS credit risk. The estimated initial value per security was $9.70.

UBS AG is offering Trigger Autocallable GEARS linked to the Bloomberg Commodity Index 3 Month. The securities are unsubordinated, unsecured notes with a principal amount of $10 per Security and a term of approximately five years unless automatically called. If the closing level of the underlying on the observation date (May 5, 2027) is at or above the autocall barrier (100% of the initial level), UBS will automatically call the notes and pay the call price of $12.10 per Security (a 21.00% call return). If not called, maturity payment depends on the underlying return and upside gearing (1.25 to 1.50 set on the trade date); if the final level is below the downside threshold (75.00% of the initial level) investors can lose a substantial portion or all principal. The estimated initial value on the trade date is expected to be between $9.393 and $9.693, below the $10 issue price. All payments are subject to UBS credit risk. Trade date and settlement are expected April 28 and April 30, 2026; final valuation and maturity dates occur in April 2031.

UBS AG offers preliminary terms for Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Salesforce, Inc. common stock, maturing on or about May 3, 2029. Each Note has a $1,000 principal amount, a contingent coupon rate set on the trade date (illustrative range 10.50%–11.50% per annum), quarterly observation dates (callable after six months), and contingent principal repayment at maturity that exposes holders to downside market risk if the final level is below the 50.00% downside threshold.

The Notes may be automatically called if the underlying’s closing level on an observation date meets or exceeds the call threshold (100% of the initial level). Payments, including any principal repayment, are unsecured obligations of UBS and subject to UBS credit risk. The estimated initial value on the trade date is indicated between $940.10 and $970.10, and the issue price is set at $1,000 less an underwriting discount of $25.00 per Note.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to Airbnb, Inc.'s common stock due April 19, 2029. The Notes pay a contingent coupon of 10.10% per annum on specified quarterly observation dates if Airbnb's closing level meets or exceeds the coupon barrier, are callable quarterly beginning after six months at a call threshold of 100.00% of the initial level, and repay principal at maturity only if the final level is at or above the downside threshold. Payments (coupons and any principal repayment) are subject to UBS credit risk and the notes may result in substantial or total loss if the final level is below the downside threshold or if UBS defaults.

UBS AG is offering $8,273,000 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index, maturing April 18, 2031. Each $1,000 Note pays a contingent coupon only if both indices meet quarterly coupon barriers; the Notes are callable quarterly (first callable after ~6 months). At maturity investors receive principal only if both indices are at or above 70% of their initial levels; otherwise payment is reduced pro rata by the negative return of the least performing index, and investors can lose a substantial portion or all principal. Payments depend on UBS creditworthiness; the estimated initial value per Note is $968.30.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc. The Notes pay periodic contingent coupons only if the underlying meets a coupon barrier on observation dates and can be automatically called early if the underlying equals or exceeds the initial level on an observation date. If not called, principal is repaid at maturity only if the final level is at or above the downside threshold; otherwise principal is reduced in proportion to the underlying return, and investors can lose a significant portion or all of their investment. Payments are subject to UBS credit risk. Trade date: April 16, 2026; settlement: April 20, 2026; final valuation date: April 18, 2028; maturity: April 20, 2028. The estimated initial value was $9.79 per $10 Note.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Lam Research common stock due April 20, 2028. The Notes pay a contingent coupon only if the underlying's closing level on an observation date meets or exceeds the coupon barrier and are automatically called early if the underlying closes at or above the initial level on any observation date prior to the final valuation date. If not called, principal repayment at maturity is contingent: full principal is returned if the final level is at or above the downside threshold; if the final level is below that threshold, repayment is reduced proportionally to the underlying return and you could lose a significant portion or all of your investment. Payments depend on UBS’s creditworthiness. Trade date is April 16, 2026, settlement April 20, 2026, final valuation date April 18, 2028, and maturity April 20, 2028. The estimated initial value is $9.76 per Note; minimum investment is 100 Notes (principal $10 per Note).

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Micron Technology common stock. The Notes pay contingent coupons only if the underlying closes at or above the coupon barrier on observation dates and may be automatically called early if the underlying equals or exceeds the initial level on any observation date. If not called, principal repayment at maturity depends on the final level versus the downside threshold and, if the final level is below that threshold, investors can suffer losses up to their entire principal. Trade date is April 16, 2026, expected settlement April 20, 2026, final valuation date April 18, 2028, and maturity April 20, 2028. The estimated initial value per Note on the trade date was $9.79.

UBS AG is offering $3,150,000 of Airbag Autocallable Yield Notes linked to Broadcom Inc. stock due April 20, 2027. The Notes pay a coupon on each coupon date unless automatically called early when the underlying closes at or above the initial level on an observation date. If not called, principal repayment at maturity is contingent: if the final level is at or above the conversion level you receive $1,000 principal plus the final coupon; if below, you receive a share delivery amount (principal divided by the conversion level) in Broadcom shares, which may be worth less than principal. Payments and deliveries are subject to UBS credit risk. The trade date is April 16, 2026 and settlement is expected April 20, 2026; final valuation date is April 16, 2027 and maturity April 20, 2027.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Micron Technology, Inc. The Notes mature on April 20, 2028 with a final valuation date of April 18, 2028 and a principal amount of $10 per Note.

The Notes pay periodic contingent coupons only if the underlying closes at or above a coupon barrier on observation dates and are subject to automatic early redemption if the underlying closes at or above the initial level on an observation date. If not called, principal repayment at maturity is contingent on the final level versus a downside threshold and could result in significant loss of principal; all payments are subject to UBS credit risk.

UBS AG proposes Trigger Autocallable Contingent Yield Notes linked to the common stock of Lam Research Corporation, with a trade date of April 16, 2026, expected settlement on April 20, 2026, a final valuation date of April 18, 2028, and maturity on April 20, 2028. The Notes pay periodic contingent coupons only if the underlying closing level on observation dates meets or exceeds the coupon barrier and will be automatically called early if the underlying closes at or above the initial level on any observation date prior to maturity. If not called, principal is repayable at maturity only if the final level is at or above the downside threshold; if below, repayment falls in proportion to the underlying return and you may lose a substantial portion or all of your investment. Minimum investment is 100 Notes ($1,000). UBS’ creditworthiness governs any payments. The document is a preliminary pricing supplement; final terms will be set on the trade date.