UBS AG is offering $129,000 of Trigger Callable Yield Notes linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, maturing on January 6, 2027. Investors receive a fixed coupon at a rate of 8.10% per annum, paid monthly, regardless of index performance unless UBS calls the notes early. UBS may call the notes monthly after six months, repaying the $1,000 principal per note plus the applicable coupon, with no further payments.
If the notes are not called and the final level of each index is at or above 70.00% of its initial level (the downside threshold), investors receive full principal back at maturity plus the final coupon. If the final level of any index is below its downside threshold, the maturity payment is reduced in line with the percentage loss of the worst-performing index, and investors can lose some or all of their initial investment.
The notes are unsubordinated, unsecured obligations of UBS, are not insured or listed on any exchange, and all payments depend on UBS’s credit. The estimated initial value is $978.20 per $1,000 note, reflecting underwriting discounts, hedging and issuance costs.
UBS AG is offering Buffer Callable Contingent Yield Notes linked to the least performing of the Russell 2000® Index and the S&P 500® Index, maturing around November 1, 2028. Each Note has a $1,000 principal amount and pays a 7.00% per annum contingent coupon (about $5.8333 monthly) only if, on an observation date, both indices close at or above their coupon barriers, set at 85.00% of their initial levels.
UBS may call the Notes in whole on any monthly observation date beginning after 6 months, returning principal plus any due coupon, after which no further payments are made. If the Notes are not called and the final level of each index is at or above its 85.00% downside threshold, investors receive full principal back at maturity. If the final level of any index is below its downside threshold, repayment is reduced according to the loss of the worst-performing index beyond the 15.00% buffer, and investors could lose almost all of their investment.
The Notes are unsecured, unsubordinated obligations of UBS, subject to its credit risk, will not be listed on any exchange, and may have limited or no secondary market. The estimated initial value is expected to be between $928.90 and $958.90 per $1,000 issue price, reflecting underwriting compensation, hedging and other costs.
UBS AG is offering Capped Leveraged Buffered Basket-Linked Medium-Term Notes tied to an unequally weighted basket of five equity indices, with an aggregate face amount of $4,203,000. The notes pay no interest and mature on June 4, 2027, with return based on the basket’s performance between December 30, 2025 and June 2, 2027.
For each $1,000 note, investors receive 230% of any positive basket return, capped at a maximum settlement amount of $1,188.83 once the basket reaches 108.21% of its initial level. A 12.5% downside buffer protects principal for modest declines, but below 87.5% of the initial basket level, losses accelerate at approximately 1.1429% for every 1% further drop, and investors could lose their entire investment.
The basket allocates 38% to the EURO STOXX 50® Index, 26% to TOPIX, 17% to the FTSE® 100 Index, 11% to the Swiss Market Index and 8% to the S&P/ASX 200 Index. The notes are unsecured obligations of UBS, are not listed on an exchange, have an estimated initial value of $996 per $1,000 face amount, and carry liquidity, market and tax risks described in detail in the disclosure.
UBS AG is offering Trigger In-Digital Securities that are unsecured debt linked to the worst performer of the Russell 2000 Index and the S&P 500 Index over roughly 13 months, maturing around February 5, 2027.
Each $1,000 Security pays no interest and at maturity either returns principal plus a fixed 7.65% digital return if the worst-performing index finishes at or above 65% of its initial level, or delivers full downside exposure to that worst index if it finishes below the 65% downside threshold. In the downside case, repayment is reduced in line with the index loss and can fall to zero, meaning a complete loss of principal.
The Securities are not listed, may have limited or no secondary market, and their value is expected to initially range between $962.60 and $992.60 due to fees and UBS’ internal funding rate. All payments depend on UBS’ credit; a default or Swiss regulatory action could result in partial or no repayment. The U.S. tax treatment is uncertain, and UBS intends to treat the notes as prepaid derivative contracts for tax purposes.
UBS AG is offering $3.414 million of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to Tesla, Inc. common stock, maturing July 6, 2027. Each $1,000 Note pays a contingent coupon at a 19.20% per annum rate (monthly $16) only if Tesla’s closing price on a coupon observation date is at or above the $314.80 coupon barrier, which is 70% of the $449.72 initial level.
The Notes can be automatically called quarterly if Tesla closes at or above the $449.72 call threshold (100% of the initial level), in which case investors receive principal plus due and unpaid coupons and the Notes terminate early. If not called and Tesla’s final level on June 30, 2027 is at or above the $314.80 downside threshold, investors receive full principal back.
If the Notes are not called and Tesla’s final level is below the downside threshold, investors receive 2.2236 Tesla shares per Note (plus cash for any fractional share), expected to be worth significantly less than $1,000, exposing them to a substantial or total loss. Payments depend entirely on UBS’s creditworthiness, and the Notes are not listed on any exchange.
UBS AG is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, maturing on or about January 11, 2029. The Notes pay a monthly contingent coupon at a rate of 8.30% per annum (about $6.9167 per $1,000 Note) only if on each observation date both indices close at or above their coupon barriers, set at 70% of their initial levels. UBS may call the Notes in whole, beginning after 6 months, paying principal plus any due coupon.
If the Notes are not called and, at maturity, either index finishes below its downside threshold (also 70% of its initial level), the repayment is reduced in line with the negative return of the worst-performing index, and holders can lose up to 100% of principal. Any payment depends on UBS’s creditworthiness. The issue price is $1,000 per Note, with an underwriting discount of up to $29.50 and minimum proceeds to UBS of at least $970.50 per Note. The estimated initial value is expected between $931.90 and $961.90, and the Notes will not be listed on any exchange.
UBS AG is offering Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the worst performer among three ETFs: the VanEck Gold Miners ETF, the VanEck Semiconductor ETF and the Energy Select Sector SPDR Fund. The Notes have a principal amount of $1,000 each, a term of about five years to January 2031, and offer a contingent coupon at an annual rate of 11.85% if on a monthly observation date the closing level of each ETF is at or above its coupon barrier.
The call threshold for each ETF is set at 100% of its initial level, the coupon barrier at 70% of its initial level and the downside threshold at 60% of its initial level. The Notes may be automatically called after 12 months if each ETF is at or above its call threshold, in which case investors receive principal plus any due and unpaid contingent coupons. If the Notes are not called and, at maturity, each ETF is at or above its downside threshold, investors receive full principal back, potentially with memory coupons.
If the Notes are not called and any ETF finishes below its downside threshold, repayment is reduced based on the negative return of the worst-performing ETF, and investors can lose some or all of their principal. Coupons are not guaranteed and may never be paid. All payments depend on the creditworthiness of UBS, and the estimated initial value per Note is expected to be between $904.20 and $934.20, below the $1,000 issue price.
UBS AG is offering $1,000 Capped Buffer Contingent Absolute Return Securities linked to the least performing of the Dow Jones Industrial Average and the S&P 500 Index, maturing around July 30, 2027 after an approximately 18‑month term.
If the least performing index rises, investors receive principal plus a positive return up to an 11.00% maximum upside gain, capped at a $1,110.00 payment per Security. If the least performing index is flat or down but ends at or above 85.00% of its initial level, investors receive a contingent absolute return, turning the loss (up to 15%) into a gain, with a maximum total return of 15.00% and a $1,150.00 payment.
If any index closes below its downside threshold, repayment is reduced according to the decline beyond the 15.00% buffer, and investors can lose almost all of their principal. The notes pay no interest, do not provide dividends, will not be listed, and depend entirely on UBS’s credit. The estimated initial value per $1,000 Security is expected to be between $941.00 and $971.00, reflecting fees, hedging costs and UBS’s internal funding rate.
UBS AG is offering Buffer Autocallable Contingent Yield Notes linked to the least performing of the VanEck Gold Miners ETF (GDX) and the Energy Select Sector SPDR Fund (XLE), maturing on or about February 1, 2028. Each Note has a $1,000 principal amount.
The Notes pay a contingent coupon of 12.30% per annum, or $10.25 per month per $1,000, but only if on a monthly observation date the closing level of each ETF is at or above its coupon barrier, set at 80% of its initial level. UBS will automatically call the Notes quarterly, starting after six months, if both ETFs are at or above their call threshold of 100% of initial level, returning principal plus the applicable coupon.
If the Notes are not called and at maturity both ETFs are at or above their 80% downside thresholds, investors receive full principal back. If any ETF finishes below its downside threshold, repayment is reduced based on the loss of the worst ETF beyond the 20% buffer, and investors can lose almost all principal. The Notes are unsecured obligations of UBS; all payments depend on UBS’s credit. The estimated initial value is $931.40–$961.40 per $1,000 issue price, and underwriting compensation is $25 per Note, leaving $975 in proceeds to UBS.
UBS AG is offering $2,000,000 of Trigger Callable Contingent Yield Notes due January 5, 2028, issued in $1,000 denominations. The notes are linked to the least performing of three underlying assets: the SPDR S&P Regional Banking ETF (KRE), the Nasdaq-100 Technology Sector Index (NDXT) and the Russell 2000 Index (RTY).
Investors may receive a 10.85% per annum contingent coupon, paid monthly, but only when the closing level of each underlying is at or above 70% of its initial level on the relevant observation date. UBS can call the notes in whole on any monthly observation date starting after six months, paying principal plus any due coupon, after which no further payments are made.
If the notes are not called and, at maturity, every underlying is at or above 60% of its initial level, investors receive full principal back. If any underlying finishes below its downside threshold, repayment is reduced one-for-one with the worst performer, up to a total loss of principal. The notes are unsecured obligations of UBS, carry UBS credit risk, are not listed, and have an estimated initial value of $981.10 per note, below the $1,000 issue price.