[SCHEDULE 13G/A] Columbia Short Duration Bond ETF SEC Filing

Rhea-AI Filing Summary

UBS AG is offering unsubordinated, unsecured Trigger Callable Contingent Yield Notes maturing on or about 13 July 2027. The notes are linked to the worst performer among three underlying assets: the Nasdaq-100 Index® (NDX), the Russell 2000® Index (RTY) and the Real Estate Select Sector SPDR® Fund (XLRE).

• Contingent coupon: fixed 9.50% p.a. (≈ 0.79167% monthly) paid only if, on each monthly observation date, the closing level of every underlying is ≥ 75% of its initial level (the “coupon barrier”).
• Issuer call: UBS may redeem the notes in whole on any observation date beginning six months after issuance. If called, investors receive par plus the due coupon; no further payments accrue.
• Maturity payoff: • If not called and each final level is ≥ 60% of its initial level (the “downside threshold”), investors receive par. • If any final level is < 60%, repayment = par × (1 + worst underlying return), creating uncapped downside to a total loss of principal.
• Key dates (expected): trade 8 Jul 2025, settle 11 Jul 2025 (T+3), monthly observations through final valuation 8 Jul 2027.
• Issue economics: issue price = $1,000; underwriting discount up to $8.50; estimated initial value 93.61%–96.61% of par, reflecting internal funding and hedging costs.
• Liquidity & listing: the notes will not be listed on any exchange; UBS Securities LLC intends (but is not obliged) to make a secondary market.
• Credit exposure: all payments are subject to UBS AG’s credit risk; the Swiss regulator (FINMA) resolution regime could impose write-down or conversion of the notes in stress.

Investor profile: suitable only for investors who understand structured products, can tolerate potential loss of principal, are comfortable with monthly performance triggers, and accept early-call and limited secondary-market liquidity.

Positive

• 9.50% annual contingent coupon offers above-market income potential if all three assets stay above 75 % of initial levels.
• 40 % downside buffer (threshold at 60 % of initial) provides conditional principal protection if not breached.
• Issuer call feature could return capital early, shortening duration if conditions are favourable.

Negative

• Full downside exposure below 60 % threshold; investors can lose all principal if the worst asset falls ≥40 %.
• Coupon uncertainty; a single asset below its barrier on any observation date cancels that period’s payment.
• Early-call optionality benefits UBS, limiting investor upside while leaving downside intact.
• Secondary-market illiquidity; notes are unlisted and dealer support is discretionary, likely at a significant discount.
• Credit risk of UBS AG; Swiss resolution regime could impose write-down or conversion in stress.
• Estimated initial value 3.4 %–6.4 % below issue price reflects embedded fees and may pressure resale value.

Insights

Structured Products Analyst

TL;DR – High coupon but high risk, principal not protected, reliant on worst-asset and UBS credit.

UBS is marketing a two-year market-linked note that trades higher contingent income (9.50% p.a.) for multiple layers of risk. Investors must clear three hurdles every month to earn coupons and avoid loss at maturity, exposing them to equity-index volatility and sector-specific real-estate risk. The 40 % buffer (threshold at 60 % of initial) is typical for short-tenor multi-asset structures; however, correlation drag means probability of breach rises with three uncorrelated underlyings. Estimated initial value is up to 6.4 % below issue price, indicating material fees and hedging costs. Early-call optionality favours the issuer: UBS will likely redeem if markets remain strong, capping investor upside, while leaving holders exposed when conditions deteriorate. Lack of exchange listing and wide bid-ask spreads may further erode realised returns. Credit-risk language highlights Swiss resolution powers that could convert or write down the notes. Overall, the product suits tactical yield seekers with a clear view that all three underlyings will remain above their barriers; for most investors the asymmetric payoff and liquidity constraints offset the advertised coupon.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Columbia ETF Trust I

(Name of Issuer)

EXCHANGE TRADED FUNDS

(Title of Class of Securities)

19761L300

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 19761L300

1

Names of Reporting Persons

TRUIST FINANCIAL CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NORTH CAROLINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

IA, HC

Comment for Type of Reporting Person: Filing completed as part of internal effort to remediate filings not previously submitted. Current ownership is less than 5%. Filing of less than 5% should have been submitted in 2023.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Columbia ETF Trust I
(b)	Address of issuer's principal executive offices: 290 CONGRESS STREET, 290 CONGRESS STREET, BOSTON, MASSACHUSETTS, 02210.
Item 2.
(a)	Name of person filing: Truist Financial Corporation as Parent Holding Company for Truist Advisory Services, Inc. an affiliated Registered Investment Advisor
(b)	Address or principal business office or, if none, residence: 214 North Tryon Street Charlotte, NC 28202
(c)	Citizenship: Truist Financial Corporation is a North Carolina Corporation; Truist Advisory Services, Inc. is a Delaware Corporation
(d)	Title of class of securities: EXCHANGE TRADED FUNDS
(e)	CUSIP No.: 19761L300
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TRUIST FINANCIAL CORP

Signature:	Edward M. Kwiatkowski
Name/Title:	Vice President
Date:	07/02/2025

FAQ

What is the coupon rate on the UBS Trigger Callable Contingent Yield Notes (symbol N/A)?

The notes pay a contingent coupon of 9.50 % per annum (≈ 0.79167 % monthly) only when all three underlyings close at or above 75 % of their initial levels on the relevant observation date.

When can UBS call the notes linked to NDX, RTY and XLRE?

UBS may redeem the notes in whole on any monthly observation date starting approximately six months after issuance; if called, holders receive par plus the due coupon.

How much principal protection do these notes provide?

Principal is protected only if, at maturity, each underlying is at least 60 % of its initial level. Below that, repayment equals par multiplied by the worst asset’s return, allowing up to 100 % loss.

What is the estimated initial value compared with the $1,000 issue price?

UBS estimates the initial value between $936.10 and $966.10, implying an up-front cost to investors of roughly 3.4 %–6.4 % for fees, hedging and issuer funding.

Are the notes listed on an exchange for trading?

No. The securities will not be listed; any secondary liquidity depends on UBS Securities LLC or affiliates making a market, which they may discontinue at any time.

Which indices and ETF underlie the notes?

Performance is linked to the Nasdaq-100 Index (NDX), Russell 2000 Index (RTY) and Real Estate Select Sector SPDR Fund (XLRE); the worst performer drives coupon eligibility and principal repayment.