ETRACS Whitney US Critical Techs ETN SEC Filings

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. (PLTR) common stock. The two-year notes are expected to price on 23 June 2025, settle on 25 June 2025 and mature on 25 June 2027, unless automatically called earlier.

Contingent coupon: 19.74 %–20.92 % per annum, paid quarterly only if PLTR’s closing level on the relevant observation date is at or above the 50 % coupon barrier. If the condition is not met, no coupon is paid for that quarter.

Automatic call: If PLTR’s closing level on any observation date before final valuation is at or above the initial level, investors receive the principal plus the contingent coupon on the corresponding payment date, and the notes terminate.

Principal repayment at maturity: • If not previously called and PLTR’s final level ≥ 50 % of the initial level (the downside threshold), UBS repays full principal.
• If PLTR’s final level < downside threshold, repayment equals the principal reduced by the exact percentage decline in PLTR, exposing investors to full downside beyond the 50 % threshold, up to total loss.

Pricing and liquidity: Issue price is US$10 per note with minimum purchase of 100 notes. Estimated initial value is US$9.51–US$9.76 (2.4 %–4.9 % below issue price), reflecting internal funding and structuring costs. Underwriting discount is US$0.15 per note. The notes will not be listed on any exchange; secondary market liquidity, if any, will be provided by UBS affiliates on a best-efforts basis.

Key risks: Investors face (i) credit risk of UBS, (ii) potential loss of some or all principal, (iii) high likelihood of missing coupons if PLTR trades below barrier, and (iv) limited or no secondary market. The contingent repayment of principal applies only at maturity.

UBS AG is marketing Trigger Autocallable Contingent Yield Notes linked to the common stock of Alphabet Inc. (GOOG). The unsecured debt securities, expected to price on 23 June 2025 and mature on 26 June 2028, offer a contingent coupon of 7.38%-7.94% per annum, paid quarterly only when GOOG’s closing level on the relevant observation date is at or above the 65 % coupon barrier.

Automatic call: Beginning after six months (quarterly observations), UBS will redeem the notes at par plus any earned coupon if GOOG closes at or above the initial level on any observation date, terminating further payments. Principal repayment: If not called, principal is protected at maturity only when the final GOOG level is at or above the 65 % downside threshold. Should the final level fall below that threshold, investors suffer a loss proportional to GOOG’s negative return and could lose their entire investment.

Key economic terms include: minimum purchase of 100 notes at $10 each; underwriting discount of $0.225 per note; and an estimated initial value between $9.46-$9.71, reflecting UBS’s internal pricing models. The notes will not be listed on any exchange, may trade at a discount, and are subject to UBS credit risk. Secondary market settlement is expected at T+2, so investors trading before issuance must arrange alternative settlement to avoid fails.

The structure suits investors seeking enhanced yield linked to GOOG with conditional downside protection and willing to accept issuer credit risk, potential illiquidity, and full market exposure below the 65 % threshold.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (the “underlying asset”). The offering is a Rule 424(b)(2) preliminary pricing supplement dated June 23, 2025, with an expected settlement on June 25, 2025 and maturity on or about June 25, 2026. Investors purchase in minimum blocks of 100 Notes at $10 per Note.

Coupon mechanics: A contingent coupon equal to 21.21 – 23.34 % per annum is paid on each monthly coupon payment date only when the underlying’s closing level on the corresponding observation date is at least the coupon barrier (60 % of the initial level). Missed coupons are not clawed back.

Autocall feature: If the underlying closes at or above the initial level on any observation date prior to the final valuation date, the Notes are automatically called and investors receive the principal plus the contingent coupon for that period; no further payments are due.

Principal repayment risk: Absent an autocall, investors receive full principal at maturity only if the final underlying level is at least the downside threshold (60 % of the initial level). Otherwise, repayment is reduced one-for-one with the underlying’s decline, potentially to zero, exposing investors to the same downside market risk as holding the stock directly. The contingent repayment protection applies solely at maturity.

Pricing and costs: Issue price is $10.00 with a $0.125 underwriting discount; net proceeds to UBS are $9.875 per Note. UBS estimates the initial economic value at $9.55 – $9.80, reflecting internal models and funding costs. The Notes will not be listed on any exchange, and secondary market liquidity is uncertain. All payments depend on UBS AG’s creditworthiness; a UBS default could result in loss of all invested capital.

UBS AG intends to issue unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of Marvell Technology, Inc. (MRVL). The notes are expected to price on 23 June 2025, settle on 25 June 2025 and mature on or about 25 June 2026 unless called earlier.

Contingent Coupon. Investors will receive a bimonthly contingent coupon set between 11.63 % and 12.92 % per annum only if MRVL closes at or above the coupon barrier (60 % of the initial level) on the relevant observation date. Missed coupons are not recuperated.

Automatic Call. If MRVL’s closing level meets or exceeds the initial level on any observation date, the notes are automatically redeemed at par plus the due coupon, ending the investment early.

Principal Repayment Scenarios. • If not previously called and the final level is ≥ the downside threshold (50 % of the initial level), UBS repays the full principal.
• If the final level is < the downside threshold, repayment is reduced one-for-one with MRVL’s decline, exposing holders to unlimited downside to zero.

Issue Economics. The notes are offered at $10.00 per note with a minimum purchase of 100 notes. UBS estimates the initial value at $9.57–$9.82 (95.7 %–98.2 % of issue price), reflecting hedging and funding costs. Underwriting discount equals $0.125 per note. Notes will not be listed on any exchange and secondary liquidity is expected to be limited.

Risk Highlights. Investors face: (i) full principal risk below the downside threshold, (ii) contingent income risk if MRVL trades below the coupon barrier, (iii) issuer credit risk of UBS AG, and (iv) liquidity risk due to the absence of an exchange listing. The structure is therefore suitable only for investors who fully understand structured products and can tolerate the potential loss of their entire investment.

UBS AG is marketing Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. (GOOG) common stock, maturing on or about 26 June 2028. The unsecured, unsubordinated notes pay a contingent quarterly coupon of 7.38%-7.97% per annum only when the closing price of GOOG on the relevant observation date is at or above the Coupon Barrier, set at 65 % of the Initial Level. Beginning after six months, UBS will automatically call the notes if GOOG closes at or above the Initial Level on any observation date; investors then receive par plus the due coupon.

If the notes are not called and the Final Level on 22 June 2028 is at or above the Downside Threshold (65 % of Initial Level), holders receive full principal. Otherwise, repayment is reduced one-for-one with the underlying’s decline, potentially to zero. All payments depend on UBS’s creditworthiness.

Key terms:

• Issue price: $10 per note; minimum 100 notes ($1,000)
• Estimated initial value: $9.46-$9.71 (94.6-97.1 % of issue price)
• Underwriting discount: $0.225 per note; net proceeds $9.775
• Trade date: 23 Jun 2025; Settlement: 25 Jun 2025 (T+2)

Principal risks include loss of up to 100 % of principal, conditional coupon payments, early-call reinvestment risk, liquidity constraints (no exchange listing), and UBS credit risk. Investors must be comfortable with equity downside exposure and the structured note’s complexity.

UBS AG is offering $1.3 million of Buffer Autocallable Contingent Yield Notes with Memory Interest due 24 December 2026. The securities are unsecured senior obligations linked to the least-performing of the Nasdaq-100, Russell 2000 and S&P 500 indices.

Key terms: each $1,000 note may pay a contingent coupon of 8.80% p.a. on quarterly observation dates if all three indices close at or above an 80 % coupon barrier. Any missed coupons are recoverable under the memory feature. The notes are callable automatically after six months if every index closes at or above its 100 % call threshold; investors then receive par plus accrued coupons and the product terminates.

If the notes are not called, principal is protected only down to the 80 % downside threshold. Should any index finish below that level on the final valuation date, repayment is reduced dollar-for-dollar beyond the 20 % buffer—potentially to near zero. The estimated initial value is $980.30, implying a 1.97% structuring cost versus the $1,000 issue price. UBS Securities LLC receives a $6.00 per-note underwriting discount; net proceeds to UBS are $994.00 per note.

Timeline: trade date 20 June 2025, settlement 25 June 2025, quarterly observations thereafter, final valuation 21 December 2026 and maturity 24 December 2026. The notes will not be listed on an exchange and are subject to UBS credit risk. Investors are directed to the extensive risk factors in the accompanying product supplement.

UBS AG plans to issue $4.5 million of unsecured, unsubordinated Market-Linked Notes (Form 424B2) that mature on July 7 2026. The Notes are tied to an unequally-weighted basket of six major currencies against the U.S. dollar (EUR, JPY, GBP, CAD, SEK, CHF). Investors receive:

• Upside participation: any positive basket return × 1.20 participation rate, subject to an embedded cap derived from the 100% per-currency limit.
• Downside protection limited to –5.00%: if the basket return is ≤0, repayment equals the greater of the basket return or the −5.00% minimum, so principal loss is capped at 5%.

Key terms include a $1,000 issue price, CUSIP 90308V4P3, and a minimum maturity payment of $950. The estimated initial value is $983, reflecting dealer margins and UBS’s internal funding rate. Settlement is T+3 (June 25 2025), with JP Morgan Securities acting as placement agent (underwriting fee $10 per Note).

Risks: the Notes pay no coupons, are not listed, may trade at a discount, and are exposed to both basket performance and UBS credit risk. UBS is not obligated to repay full principal; investors could lose up to 5% and face liquidity constraints. The filing stresses that the product suits investors who understand structured currency exposure, can hold to maturity, and accept limited downside protection.

UBS AG is offering $1.2 million of Trigger Callable Contingent Yield Notes (Rule 424(b)(2) filing) linked to the least-performing of the Dow Jones Industrial Average, Russell 2000 and S&P 500. Each $1,000 note can pay a contingent coupon of 8.50% p.a. (≈ 0.7083% monthly) but only when, on the relevant observation date, all three indices close at or above 70 % of their initial levels (the “coupon barriers”).

UBS may, at its sole discretion, call the notes in whole on any monthly observation date beginning six months after settlement (first call date ≈ Dec 26 2025). If called, investors receive par plus any due coupon, and the instrument terminates early. If the notes are not called, maturity is 25 Jun 2029. Principal is conditioned on downside thresholds set at 60 % of each index’s initial level. Should any index finish below its threshold on the final valuation date, repayment equals par multiplied by (1 + return of the weakest index), exposing holders to a dollar-for-dollar loss down to total wipe-out.

Key economics include: estimated initial value = $961.70 (≈ 3.8 % below issue price), underwriting discount = $7.50 per note, and settlement T+3 versus the new market standard T+1. The notes are unsecured, unsubordinated obligations of UBS AG and will not be listed. Major risk factors highlighted are credit exposure to UBS, potential non-payment of coupons, market risk of each underlying, illiquidity, and possible loss up to 100 % of principal. Investors comfortable with equity-index volatility, issuer call risk and complex payoff mechanics may find the 8.5 % contingent yield attractive; others should carefully review the 20-plus pages of risk disclosures.

UBS AG is offering $1.718 million of Trigger Callable Contingent Yield Notes due 23 June 2028 that are linked to the least-performing of three ETFs: SPDR S&P Regional Banking (KRE), Energy Select Sector SPDR (XLE) and Technology Select Sector SPDR (XLK).

The notes pay a contingent coupon of 15.65% p.a. on any monthly observation date where all three ETFs close at or above their respective coupon barriers (70 % of initial levels). If any ETF is below its barrier, no coupon is paid for that period.

UBS may, at its sole discretion, call the notes in whole on any observation date beginning six months after settlement. If called, investors receive the $1,000 principal plus the applicable coupon, and the instrument terminates.

At maturity, if the notes have not been called and every ETF is at or above its downside threshold (also 70 % of the initial level), investors receive full principal. If any ETF finishes below its threshold, repayment is reduced one-for-one with the worst-performing ETF, potentially leading to a total loss of principal.

• Trade date: 20 Jun 2025; settlement: 25 Jun 2025 (T+3)
• Monthly observations; final valuation: 20 Jun 2028; maturity: 23 Jun 2028
• Estimated initial value: $976.40 per $1,000 note (reflects dealer margins and funding costs)
• Issue price: $1,000; underwriting discount: $7; net proceeds to UBS: $993 per note

The notes are unsecured and unsubordinated obligations of UBS AG and are not FDIC-insured. They will not be listed on any exchange, and secondary liquidity may be limited. Investors face issuer credit risk in addition to market risk on each underlying ETF.