UBS AG SEC Filings

UBS AG priced a preliminary offering of Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc. The Notes pay periodic contingent coupons only if the underlying closes 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 any observation date.

Key dates: Trade Date May 20, 2026, Settlement Date May 22, 2026, Final Valuation Date May 18, 2029, Maturity Date May 22, 2029. Principal amount per Note is $10; minimum investment is 100 Notes ($1,000). The preliminary supplement shows a downside threshold and coupon barrier of $75.00 (75.00% of the initial level) in the illustrative terms. The example contingent coupon rate is 11.51% per annum (contingent coupon $0.2878 per $10 Note) and an estimated initial value range of $9.37 to $9.62 per Note.

This is a debt obligation of UBS; any payments (including principal at maturity) are subject to UBS’s creditworthiness. If not autocalled and the final level is below the downside threshold, repayment at maturity may be less than principal, potentially resulting in a substantial loss or total loss of investment.

UBS AG offers Trigger Autocallable Contingent Yield Notes linked to the common stock of Dow Inc. The Notes have a principal amount of $10 per Note, a trade date of May 20, 2026, expected settlement on May 22, 2026, a final valuation date of May 18, 2028 and a maturity date of May 22, 2028. Payments depend on observation-date triggers: contingent coupons are paid only if the underlying closes at or above the coupon barrier; the Notes autocall early if the underlying closes at or above the initial level on an observation date. If not called, repayment at maturity is contingent: full principal is paid only if the final level is at or above the downside threshold; otherwise principal is reduced proportionally to the underlying return. Estimated initial value range on the trade date is between $9.43 and $9.68 per Note. All payments are subject to the creditworthiness of UBS. This is a preliminary pricing supplement, subject to completion and delivery of final Offering Documents.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Freeport-McMoRan Inc. The notes have an expected trade date of May 20, 2026, settlement on May 22, 2026, a final valuation date of May 18, 2029 and a maturity date of May 22, 2029. Each Note has a principal amount of $10 and a minimum investment of 100 Notes ($1,000). Investors may receive periodic contingent coupons only if the underlying stock closes at or above a coupon barrier on observation dates; otherwise no coupon is paid. The Notes are subject to an automatic call on quarterly observation dates (beginning after six months) if the underlying closes at or above the initial level; a call triggers repayment of principal plus any contingent coupon due. If not called, principal repayment at maturity is contingent: full principal is paid only 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 investors may lose a substantial portion or all of principal. The preliminary estimated initial value range is $9.33 to $9.58 per Note, as of the trade date, per UBS internal models. All payments, including any contingent coupons and principal, are subject to the creditworthiness of UBS. This preliminary pricing supplement sets final terms on the trade date and supplements the product supplement and prospectus dated February 6, 2025.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation due May 22, 2028. Each Note has a $10 principal amount and pays contingent coupons only when the underlying closing level is at or above a coupon barrier on observation dates. The Notes will be automatically called if the underlying closing level on any quarterly observation date (beginning after 12 months) is at or above the initial level; in that case investors receive principal plus any contingent coupon on the related call settlement date. If not called, repayment at maturity depends on the final level: full principal if the final level is at or above the downside threshold, otherwise principal is reduced pro rata by the underlying return, potentially resulting in total loss. Trade date is May 20, 2026, settlement May 22, 2026, final valuation date May 18, 2028 and maturity May 22, 2028. The estimated initial value on the trade date is $9.81. Payments, including principal, are subject to the creditworthiness of UBS.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to Caterpillar Inc. common stock due May 24, 2027. The notes pay contingent coupons only if the underlying closing level on observation dates meets or exceeds a coupon barrier and will be automatically called early if the underlying equals or exceeds the initial level on any pre‑maturity observation date. If not called, principal is repaid at maturity only if the final level is at or above a disclosed downside threshold; otherwise principal will be reduced proportionally to the underlying return and investors could lose all of their investment. All payments are subject to UBS credit risk. The notes have a minimum purchase of 100 notes at $10 per note and an estimated initial value of $9.78 as of the trade date.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of NIKE, Inc. The Notes pay a coupon on each coupon date unless the Notes are auto-called early when the underlying's closing level on an observation date is ≥ the initial level. If auto-called, UBS pays principal plus the coupon on the related coupon payment date and the Notes terminate. If not auto-called, at maturity UBS either (a) pays principal plus coupon if the final level ≥ conversion level, or (b) delivers a share delivery amount equal to $1,000 divided by the conversion level (fractional shares paid in cash), which may be worth less than principal, producing a loss. Payments depend on UBS's creditworthiness. Trade date is May 20, 2026, settlement May 22, 2026, final valuation date May 20, 2027, maturity May 24, 2027. The estimated initial value as of the trade date is $980.40.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation, due on or about May 22, 2028. The Notes pay a contingent coupon only if the underlying closes at or above a coupon barrier on observation dates; otherwise no coupon is paid. The Notes are automatically called early if the underlying closes at or above the initial level on any quarterly observation date beginning after 12 months, in which case UBS pays principal plus any contingent coupon due on the call settlement date. At maturity, if not called, full principal is repaid only if the final level is at or above the downside threshold; otherwise repayment equals $10 x (1 + Underlying Return), which can result in a substantial loss, including loss of all principal. Trade date is May 20, 2026 with settlement on May 22, 2026. Minimum investment is 100 Notes (principal $10 per Note). The preliminary pricing indicates an estimated initial value between $9.44 and $9.69. All payments are subject to UBS credit risk.

UBS AG is offering Airbag Autocallable Yield Notes linked to the common stock of NIKE, Inc. The trade date is May 20, 2026 with expected settlement on May 22, 2026, a final valuation date of May 20, 2027, and maturity on May 24, 2027.

The Notes pay a coupon on each coupon payment date unless they are automatically called early. An automatic call occurs if the closing level of the underlying stock on any observation date is equal to or greater than the initial level; on an automatic call UBS will pay principal plus the coupon for that period. If not called and the final level is below the conversion level, UBS will deliver a share delivery amount (or cash for fractional shares), which may be worth less than the principal, exposing investors to loss of some or all principal. The preliminary estimated initial value range on the trade date is $951.10 to $976.10.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Caterpillar Inc. The Notes pay a contingent coupon only if the underlying closing level meets the coupon barrier on observation dates and are subject to automatic early call if the underlying reaches or exceeds the initial level on any prior observation date. At maturity the principal is repaid only if the final level is at or above the downside threshold; otherwise repayment is reduced proportionally to the underlying return, and investors could lose a significant portion or all of their investment. Final terms will be set on the trade date and payments are subject to UBS credit risk.