UBS AG is offering preliminary pricing for Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index, due on or about May 12, 2028. The notes pay a contingent coupon only when each underlying asset meets its coupon barrier on an observation date and are callable monthly by UBS beginning after six months. At maturity, if any underlying asset’s final level is below its downside threshold (65% of initial level), principal repayment will be reduced pro rata to the decline of the least performing underlying asset; in extreme cases, investors can lose their entire principal. The preliminary estimated initial value range is $955.10–$985.10 and the example contingent coupon shown is 11.15% per annum. Underwriting compensation may be up to $7.25 per Note, and proceeds to UBS are shown as at least $992.75 per Note. The notes are unsecured obligations subject to UBS credit risk; they will not be listed on an exchange and secondary market liquidity may be limited.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector and the Russell 2000® Index, with monthly observation dates, an issuer call beginning after three months and an expected maturity on or about May 11, 2028. The notes pay a contingent coupon only when each underlying's closing level meets its coupon barrier; principal repayment at maturity is conditional on the final level of each underlying being at or above its downside threshold (70% of initial level). The preliminary contingent coupon rate shown is 12.85% per annum and the issue price is $1,000.00 per note. The estimated initial value range is $957.50 to $987.50. The notes are unsecured obligations of UBS, not FDIC insured, and subject to UBS credit and FINMA restructuring risks.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the S&P 500®, Nasdaq-100® and Russell 2000® indices, due on or about June 9, 2028. The notes pay a 13.00% per annum contingent coupon (payable only if each underlying meets its coupon barrier on an observation date) and are issuer-callable monthly beginning after three months. If not called, principal is repaid at maturity only if each final level is at or above its downside threshold (each set at 70.00% of its initial level); otherwise repayment at maturity will be reduced proportionally to the decline of the least performing underlying asset and could result in total loss. Issue price is $1,000.00 per note with an estimated initial value between $965.00 and $995.00. All payments are subject to UBS credit risk and the notes will not be listed on an exchange.
UBS AG offers $1,880,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector, the Russell 2000® Index and the S&P 500® Index. The Notes pay a contingent coupon of 11.40% per annum only if each underlying asset meets its coupon barrier on an observation date. UBS may call the Notes monthly beginning after three months; if not called, principal is repaid at maturity only if each underlying asset is at or above its 65.00% downside threshold. If any underlying asset finishes below its downside threshold, holders suffer a principal decline equal to the percentage decline of the least performing underlying asset, possibly losing the entire investment. The estimated initial value per Note on the trade date was $988.00 and the issue price is $1,000.00 per Note. All payments depend on UBS creditworthiness and the Notes will not be listed on an exchange.
UBS AG offers $3,339,000 of Trigger Callable Contingent Yield Notes due May 8, 2028, linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and shares of the State Street Technology Select Sector SPDR ETF. The Notes pay a contingent coupon of 13.85% per annum only when each underlying asset meets its coupon barrier on an observation date. UBS may call the Notes monthly beginning after three months. If not called, principal is repaid at maturity only if each final level is at or above its downside thresholds (70% of initial levels); otherwise repayment is reduced pro rata by the percentage decline of the least performing underlying asset. The estimated initial value on the trade date was $983.80 per $1,000 Note. The Notes are unsecured obligations of UBS and repayment is subject to UBS credit risk.
UBS AG is offering Buffer Callable Contingent Yield Notes due June 8, 2029, linked to the least performing of the Russell 2000® Index and the S&P 500® Index. Each $1,000 Note pays a contingent quarterly coupon of $20.75 (an 8.30% per annum rate) only if both indices meet coupon barriers on each observation date. The Notes feature a 30.00% buffer and downside thresholds equal to 70.00% of the initial levels (Russell 2000 initial 2,931.963; S&P 500 initial 7,609.78). UBS may call the Notes on any observation date (other than the final valuation date); if not called, repayment at maturity can be less than principal when the least performing index falls below its downside threshold. Payments (including principal) are unsecured obligations of UBS and depend on UBS creditworthiness.
UBS AG is offering Capped Market-Linked Notes linked to the S&P 500® Index with a maximum gain of 6.45% and a maximum payment at maturity of $1,064.50 per $1,000 Note. The preliminary terms set the principal at $1,000 per Note, an expected term of approximately 13 months, an expected trade date of June 5, 2026, settlement on June 10, 2026, final valuation on July 6, 2027 and maturity on July 9, 2027.
The payment at maturity equals principal plus the lesser of the underlying return and the maximum gain if the S&P 500® Index return is positive; if the underlying return is zero or negative, holders receive only principal at maturity. Payments are subject to UBS credit risk. The issue price includes an underwriting discount of $6.00 per Note, with proceeds to UBS shown as $994.00 per Note. The estimated initial value range is $961.00 to $991.00 as of the trade date per UBS’ internal pricing models. This document is a preliminary pricing supplement and the final terms will be set on the trade date.
UBS AG is offering $5,600,000 of Barrier Market Linked Notes with Daily Barrier Observation linked to the spot price of gold. The Notes pay no interest, have a $1,000 principal per Note and mature on December 7, 2027. Payouts depend on whether the spot price of gold breaches an upper barrier equal to the initial price plus 30.00%. If a barrier event occurs on any trading day during the observation period, holders receive principal plus a 5.00% conditional return. If no barrier event occurs, upside is limited to a 30.00% maximum gain, and holders receive either the underlying return (capped) or only principal if the final price is at or below the initial price. All payments, including principal, are subject to UBS’s creditworthiness. The estimated initial value per Note on the trade date was $976.50.
UBS AG is offering $3,289,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and Dow Jones Industrial Average, due May 8, 2028. The Notes pay a contingent coupon of 10.90% per annum on coupon payment dates only if each underlying closes at or above its coupon barrier on the applicable observation date. UBS may call the Notes monthly beginning after six months; if called you receive principal plus any contingent coupon then due. If not called and any underlying’s final level is below its downside threshold (70.00% of its initial level), maturity payment will be reduced in proportion to the percentage decline of the least performing underlying asset, and you could lose a significant portion or all of your investment. The estimated initial value as of the trade date is $988.00 and the issue price is $1,000.00 per Note. All payments are subject to UBS’s creditworthiness; the Notes will not be listed on an exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Meta Platforms, Inc. stock, with a contingent coupon of 12.65% per annum and a term to approximately June 15, 2029. The notes are callable quarterly beginning after six months if the underlying meets the call threshold; otherwise principal repayment at maturity is contingent on the final closing level relative to a 70.00% downside threshold. The issue price is $1,000.00 per Note and the estimated initial value is stated between $946.00 and $976.00. Payments, including contingent coupons and any principal, are subject to UBS credit risk. The final terms will be set on the strike date and reflected in the final pricing supplement.