ETRACS Whitney US Critical Techs ETN SEC Filings

UBS AG is offering $1,000,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc. (GOOG). The debt is senior unsecured, issued in $10 denominations, and matures on 14 Jan 2027 (≈18 months) unless automatically called earlier.

Income mechanics: Investors receive a 10.76 % p.a. fixed contingent coupon (≈$0.538 per note semi-annually) only when GOOG’s closing price on an observation date is ≥ the Coupon Barrier of $134.03 (75 % of the initial $178.70). Miss the barrier and that period’s coupon is forfeited.

Autocall feature: If GOOG closes ≥ the initial level on any observation date before maturity (12 Jan 2026 or 10 Jul 2026), the notes are redeemed early at par plus the due coupon, ending further payments.

Principal repayment: • If not called and GOOG is ≥ the Downside Threshold ($134.03) on the final valuation date, principal is returned. • If GOOG finishes < the threshold, repayment = $10 × (1 + Underlying Return), exposing holders to the full share decline down to total loss.

Key economics & fees: Issue price $10, estimated initial value $9.79 (reflecting 1.75 % underwriting discount and internal funding adjustments). Secondary market liquidity is not assured; notes are unlisted. All payments depend on UBS credit quality.

Risk highlights: Potential loss of all capital, non-guaranteed coupons, issuer credit risk, limited liquidity, adverse tax uncertainty (pre-paid derivative treatment) and structural conflicts of interest (UBS acts as issuer, underwriter, calculation agent).

Investor profile: Suitable only for investors who understand equity-linked structures, can tolerate principal loss, and value a high conditional coupon over direct participation in Alphabet’s share appreciation.

UBS AG is offering $1,000,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc. (GOOG). The debt is senior unsecured, issued in $10 denominations, and matures on 14 Jan 2027 (≈18 months) unless automatically called earlier.

Income mechanics: Investors receive a 10.76 % p.a. fixed contingent coupon (≈$0.538 per note semi-annually) only when GOOG’s closing price on an observation date is ≥ the Coupon Barrier of $134.03 (75 % of the initial $178.70). Miss the barrier and that period’s coupon is forfeited.

Autocall feature: If GOOG closes ≥ the initial level on any observation date before maturity (12 Jan 2026 or 10 Jul 2026), the notes are redeemed early at par plus the due coupon, ending further payments.

Principal repayment: • If not called and GOOG is ≥ the Downside Threshold ($134.03) on the final valuation date, principal is returned. • If GOOG finishes < the threshold, repayment = $10 × (1 + Underlying Return), exposing holders to the full share decline down to total loss.

Key economics & fees: Issue price $10, estimated initial value $9.79 (reflecting 1.75 % underwriting discount and internal funding adjustments). Secondary market liquidity is not assured; notes are unlisted. All payments depend on UBS credit quality.

Risk highlights: Potential loss of all capital, non-guaranteed coupons, issuer credit risk, limited liquidity, adverse tax uncertainty (pre-paid derivative treatment) and structural conflicts of interest (UBS acts as issuer, underwriter, calculation agent).

Investor profile: Suitable only for investors who understand equity-linked structures, can tolerate principal loss, and value a high conditional coupon over direct participation in Alphabet’s share appreciation.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR) that mature on or about 14 July 2028. The $10 face-value notes pay a fixed contingent coupon of 17.19 %–18.11 % p.a. (≈ $0.4298–$0.4528 per quarter) only when PLTR’s closing price on a quarterly observation date is at or above the 50 % coupon barrier. If PLTR closes below that barrier on an observation date, the coupon for that quarter is forfeited.

Automatic call. Beginning 10 Oct 2025 and on each subsequent observation date (except the final one), the notes will be redeemed early at par plus the applicable coupon if PLTR closes at or above the initial level. Early redemption terminates future coupons.

Principal at risk. If the notes are not called early and PLTR’s final level on 12 Jul 2028 is ≥ the 50 % downside threshold, investors receive the full $10 principal. If the final level is below that threshold, repayment equals $10 × (1 + underlying return), exposing investors to one-for-one downside in PLTR and potential total loss of principal.

Key economic terms (to be fixed on trade date 10 Jul 2025):

• Initial level: PLTR closing price on trade date
• Coupon barrier / downside threshold: 50 % of initial level
• Contingent coupon rate: 17.19 %–18.11 % p.a.
• Estimated initial value: $9.44 – $9.69 (reflects embedded fees vs. $10 issue price)

Risk highlights. Investors face (1) equity risk in a single volatile stock; (2) credit risk of UBS AG; (3) liquidity risk—the notes will not be exchange-listed and secondary market making is discretionary; (4) valuation risk—issue price exceeds UBS’s estimated value; (5) coupon uncertainty—coupons cease if PLTR trades below the barrier; and (6) full downside exposure below the 50 % threshold. UBS and its affiliates have conflicts of interest as issuer, calculation agent, and market-maker.

The notes suit investors seeking high conditional income and willing to accept substantial downside and reinvestment risk, limited upside, and UBS credit exposure over a three-year horizon.