ETRACS Whitney US Critical Techs ETN SEC Filings

UBS AG is offering unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc. (SNOW) that mature on or about 24 June 2027. The notes pay a contingent quarterly coupon of 9.83 %–10.56 % p.a. only if SNOW’s closing price on the relevant observation date is at or above the Coupon Barrier, set at 50 % of the Initial Level. If on any observation date prior to maturity SNOW closes at or above its Initial Level, the notes are automatically called and investors receive par plus the applicable coupon; no further payments are made thereafter.

If the notes are not called, two principal-repayment scenarios apply at maturity: (i) if SNOW’s final level is at or above the Downside Threshold (50 % of Initial Level), investors receive 100 % of principal; (ii) if the final level is below the downside threshold, repayment is reduced one-for-one with the underlying decline, exposing investors to up to a 100 % loss of principal.

Key economic terms: Issue price $10.00; underwriting discount $0.15; proceeds to UBS $9.85. Minimum investment 100 notes ($1,000). Estimated initial value $9.55 – $9.80 (95.5 %–98 % of face), reflecting internal funding and hedging costs. The notes settle T+2 (24 Jun 2025) and will not be listed on any exchange, limiting secondary liquidity. All payments are subject to UBS AG’s credit risk.

Primary risks include: potential loss of all principal if SNOW falls >50 %, non-payment of coupons if the barrier is breached, limited liquidity, and full issuer credit exposure. The product suits investors seeking enhanced yield, willing to accept issuer credit risk, equity downside beyond -50 %, and the possibility of receiving no income.

UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to the common stock of Snowflake Inc. (SNOW). The unsecured, unsubordinated notes mature on or about 26 June 2028 and pay a contingent quarterly coupon of 13.08%–13.72% p.a. only if SNOW’s closing level on the relevant observation date is at or above a coupon barrier set at 60 % of the initial level.

An automatic call is triggered if, on any quarterly observation date starting six months after issuance, SNOW closes at or above the initial level; investors then receive the principal plus the contingent coupon and the notes terminate early. If no call occurs and, at final valuation, SNOW is at or above the downside threshold (also 60 % of initial), investors are repaid par. If the final level is below the threshold, investors incur a loss matching SNOW’s percentage decline, potentially losing their entire investment.

Key terms include a $10 issue price, minimum purchase of 100 notes, underwriting discount of $0.225 per note, and an estimated initial value of $9.47–$9.72. The notes will not be listed on any exchange, and secondary market liquidity is uncertain. All payments depend on UBS AG’s creditworthiness.

• Trade date: 20 June 2025; Settlement: 24 June 2025
• Quarterly observations; T+2 primary settlement versus T+1 market standard
• Product governed by prospectus and product supplement dated 6 Feb 2025

These notes suit investors seeking high contingent yield and willing to accept issuer credit risk, market risk below a 40 % buffer, and uncertain coupon payments.

UBS AG is offering $165,000 in Trigger Autocallable Contingent Yield Notes linked to the ADRs of Arm Holdings plc (ARM). The one-year notes (trade date 20 Jun 2025; maturity 24 Jun 2026) pay a contingent coupon of 17.72% p.a. (approximately 1.4767% monthly) only when the ADR’s closing price on the relevant observation date is at or above the coupon barrier of $87.02 (60% of the initial level). If this barrier is breached, the coupon for that month is skipped and not recaptured.

The notes will be automatically called on any monthly observation date if ARM closes at or above the initial level of $145.04. In that event investors receive par plus the contingent coupon for that period and the instrument terminates early. If not called, principal is protected at maturity only if the final level is ≥ the downside threshold of $87.02. Otherwise, investors suffer a loss matching the full decline in ARM, down to a total loss of principal in a worst-case scenario.

UBS’ estimated initial value is $9.78 per $10 note, reflecting a 2.2% discount to issue price and an underwriting fee of $0.125. The notes are unsecured, unsubordinated obligations of UBS AG; repayment depends on UBS’ creditworthiness. They are not listed on any exchange, may be illiquid, and settle T+2. Minimum purchase is 100 notes ($1,000). The offer uses prospectus and product-supplement dated 6 Feb 2025 and is filed under SEC Registration No. 333-283672 (Rule 424(b)(2) filing).

UBS AG is offering $220,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of Royal Caribbean Cruises Ltd. (RCL). The notes price at $10.00 each, settle on 24 Jun 2025 and mature (unless earlier called) on 24 Jun 2027.

Income potential: investors may receive a 12.79% p.a. contingent coupon paid quarterly if RCL’s closing level on the relevant observation date is at or above the coupon barrier of $163.43 (60 % of the initial level). Miss the barrier and no coupon is paid for that quarter.

Automatic call: if on any observation date before maturity RCL closes at or above the initial level of $272.39, UBS redeems the notes early at par plus the contingent coupon for that quarter; no further payments follow.

Principal repayment: at maturity, if the notes were not called and RCL is at or above the downside threshold of $163.43, holders receive 100 % of principal. Otherwise, repayment is reduced one-for-one with RCL’s decline, exposing investors to full downside risk and potential total loss.

Credit & valuation considerations: the notes are unsecured, unsubordinated obligations of UBS AG; payments depend on UBS’s ability to pay. The estimated initial value is $9.78 per note, 2.2 % below the $10.00 issue price, reflecting internal funding costs and dealer discount of $0.15. The notes will not be listed on any exchange, which may limit liquidity. Minimum investment is 100 notes ($1,000).

UBS AG is offering $1.175 million of Trigger Autocallable Contingent Yield Notes linked to the common stock of Advance Auto Parts, Inc. (AAP). The Notes, which are unsecured and unsubordinated senior debt, will settle on 24 June 2025 and mature on 24 June 2027, unless automatically called earlier.

Income profile. Investors may receive a contingent coupon of 27.15% p.a., paid quarterly, but only when AAP’s closing price on an observation date is at or above the coupon barrier of $34.59 (70 % of the initial level). Missed coupons are not cumulative.

Autocall feature. If on any quarterly observation date AAP closes at or above its initial level of $49.42, UBS will automatically redeem the Notes for par plus the coupon then due, terminating the investment early.

Principal risk. If not called and AAP closes below the downside threshold of $34.59 on the final valuation date (22 June 2027), repayment is reduced dollar-for-dollar with the share’s decline, exposing the holder to up to 100 % loss of principal. Contingent principal protection applies only at maturity and only when the final level is at or above the threshold.

Pricing & distribution. Issue price is $10.00 per Note; UBS estimates the initial economic value at $9.77, implying a 2.3 % structuring premium. Underwriting discount is $0.15 (1.5 %), leaving net proceeds of $9.85. Minimum purchase is 100 Notes ($1,000). The Notes will not be listed on any exchange, and liquidity will depend on UBS’s willingness to repurchase.

Key risks. Investors face (i) equity risk in AAP, (ii) credit risk of UBS AG, (iii) liquidity risk as the Notes are unlisted, and (iv) valuation risk owing to the premium over estimated initial value. UBS highlights these products as “significantly riskier than conventional debt,” urging investors to review the risk sections of the prospectus and product supplement before investing.

UBS AG has filed a preliminary pricing supplement for a new structured product: Trigger Autocallable Contingent Yield Notes linked to the American Depositary Receipts of Arm Holdings plc (ARM). The Notes are unsecured, unsubordinated debt of UBS AG, scheduled to price on June 20 2025, settle on June 24 2025 and mature on June 24 2026, unless called earlier. Investors will receive a contingent coupon of 14.07 %–16.07 % per annum only when the ADR’s closing level on an observation date is at or above the 60 % coupon barrier. Observation dates are monthly.

Automatic Call. If on any observation date prior to final valuation the ADR closes at or above its initial level, the Notes are automatically redeemed at par plus the contingent coupon, terminating further payments. Downside Protection. If not called, principal is protected only when the final ADR level is ≥ 60 % of the initial level (the downside threshold). Should the final level fall below that threshold, investors incur a loss equal to the full negative return of ARM ADRs and could lose their entire principal.

Key economics. Issue price is $10.00 per Note; underwriting discount is $0.125; proceeds to UBS are $9.875. UBS estimates the initial economic value at $9.54–$9.79, reflecting internal funding costs. Minimum investment is 100 Notes ($1,000). The product will not be listed on an exchange and secondary liquidity is expected to be limited. Payments depend entirely on UBS’s creditworthiness; the Notes are not FDIC-insured.

Risks highlighted. Investors face (i) credit risk of UBS, (ii) market risk equivalent to a 40 % downside buffer only at maturity, (iii) reinvestment risk if automatically called, (iv) potential illiquidity caused by the lack of listing and T+2 settlement versus the market’s T+1 norm, and (v) the possibility of receiving no coupons over the life of the security.