ETRACS Whitney US Critical Techs ETN SEC Filings

UBS AG is offering a small $120,000 tranche of Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms, Inc. (META), maturing on 30 June 2026. The notes are senior, unsecured debt obligations.

Income mechanics: Investors receive a quarterly contingent coupon of 11.33 % per annum only when META’s closing price on the relevant observation date is at or above the coupon barrier of $544.57 (75 % of the $726.09 initial level). If the barrier is breached, no coupon is paid for that quarter.

Autocall feature: If META closes at or above the initial level on any observation date before maturity, the notes are automatically called and investors receive par plus the contingent coupon on the related payment date; no further cash-flows accrue thereafter.

Principal repayment: • If not autocalled and META’s final level on 26 June 2026 is at or above the downside threshold ($544.57), investors receive 100 % of principal.
• If the final level is below the threshold, repayment is reduced one-for-one with META’s decline, exposing the holder to unlimited downside — up to a total loss of the $10 issue price.

Economics & offering terms: Issue price is $10 per note (minimum purchase 100 notes). Underwriting discount is $0.15 per note, leaving net proceeds of $9.85 to UBS; the estimated initial value is $9.76, indicating an embedded fee of roughly 2.4 %. Settlement is 30 June 2025 (T+2). The notes will not be exchange-listed, and secondary liquidity, if available, will be at the discretion of the underwriter.

Key risks: Credit risk of UBS, potential loss of all principal, uncertain coupon stream, early call risk, and limited secondary market. The note’s market value will be sensitive to META share volatility, interest-rate moves, UBS credit spreads, and time decay.

UBS AG is offering $450,000 of Trigger Autocallable Contingent Yield Notes linked to United Airlines Holdings, Inc. (UAL) common stock. The notes are unsecured, unsubordinated debt maturing on June 30, 2026 and settle T+2 (trade date June 26, 2025; settlement June 30, 2025). Investors will receive a quarterly contingent coupon of 21.28% per annum only if UAL’s closing price on the relevant observation date is at or above the coupon barrier of $54.29 (70 % of the initial level). If on any observation date before final valuation (June 26, 2026) the closing price is at or above the initial level of $77.55, the notes are automatically called and the holder receives par plus the current coupon.

If the notes are not called, principal repayment depends on the final UAL price. A cash payment of 100 % of par is returned if the final level is at or above the downside threshold of $50.41 (65 % of initial). Otherwise, repayment is reduced one-for-one with UAL’s decline, potentially to zero, exposing investors to full equity downside.

Issue price is $10 per note; estimated initial value is $9.82, reflecting UBS internal pricing and funding costs. Underwriting discount is $0.15 per note, leaving $9.85 in proceeds to UBS. The minimum purchase is 100 notes ($1,000). The securities are not listed, may lack liquidity, and all payments are subject to UBS credit risk. Comprehensive risk factors and valuation adjustments are detailed in the accompanying prospectus and product supplement.

UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of United Airlines Holdings, Inc. (UAL). The unsecured, unsubordinated notes mature on 30 June 2026 and pay a contingent coupon of 14.64% per annum only when UAL’s closing level on a quarterly observation date is at or above the coupon barrier of $46.53 (60% of the $77.55 initial level).

If on any observation date (beginning after six months) UAL closes at or above the initial level, UBS will automatically call the notes and return the principal plus the applicable coupon. If not called, investors face two maturity scenarios: (i) full principal repayment if UAL’s final level is at or above the downside threshold of $46.53, or (ii) a loss matching UAL’s percentage decline if the final level is below the threshold—potentially up to a 100% loss.

Key economic terms

• Issue price: $10.00 per note (minimum 100 notes = $1,000 investment)
• Estimated initial value: $9.72 per note
• Underwriting discount: $0.175 per note (1.75%)
• Trade date: 26 June 2025  |  Settlement: 30 June 2025
• Observation frequency: Quarterly (callable after 6 months)
• Not listed on any exchange; liquidity limited to dealer markets

Any payment is subject to UBS’s creditworthiness. The filing highlights significant market, credit, and liquidity risks, and notes that investors may receive few or no coupons and could lose their entire principal.

UBS AG filed a 424B2 prospectus supplement for the issuance of Trigger Autocallable Contingent Yield Notes linked to the common stock of Meta Platforms (META).

The Notes offer a contingent coupon of 9.97%–10.97% per annum, payable quarterly only when the closing price of META on the relevant observation date is at or above a 75% coupon barrier. An automatic call is triggered if META closes at or above the initial level on any observation date before maturity, returning principal plus the contingent coupon.

If not called, repayment of principal at maturity (30 June 2026) is contingent. Investors receive full principal back only if META’s final level is at or above a 75% downside threshold; otherwise, they incur the same percentage loss as META, potentially losing their entire investment. The Notes are unsecured, unsubordinated debt of UBS AG, exposing holders to UBS credit risk. They will not be listed on any exchange, and secondary market liquidity is uncertain.

The issue price is $10 per Note with a minimum purchase of 100 Notes. Estimated initial value is $9.54–$9.79, reflecting underwriting discount ($0.15 per Note) and UBS internal models. Settlement is expected T+2 (30 June 2025); secondary trades before T+1 require alternative settlement. Key risks highlighted include principal-at-risk structure, potential non-payment of coupons, credit exposure to UBS, and limited liquidity.

UBS AG is marketing one-year Trigger Autocallable Contingent Yield Notes linked to United Airlines Holdings, Inc. common stock. The notes are unsubordinated, unsecured obligations that pay quarterly contingent coupons of 18.29%-19.67% per annum only when the underlying stock closes at or above a 70% coupon barrier on the relevant observation date. If on any quarterly observation date the stock price is at or above the initial level, the notes are automatically called and investors receive the principal plus the coupon due for that quarter.

If not called, principal is protected only if the final stock price on 26-Jun-2026 is at or above the 65% downside threshold. Otherwise, repayment equals the principal reduced by the full percentage decline in the stock, exposing investors to losses up to 100% of their investment. The notes settle T+2 on 30-Jun-2025, mature on 30-Jun-2026 and are offered in minimums of 100 notes at $10 each.

Pricing highlights include an estimated initial value of $9.55-$9.80 (95.5-98.0% of face) and a $0.15 underwriting discount, leaving net proceeds of $9.85 per note to UBS. The securities will not be listed on any exchange, and secondary liquidity is uncertain. Payments depend on UBS AG’s credit; a default would leave investors with no recourse. The preliminary supplement emphasises substantial market, credit and liquidity risks and directs investors to detailed risk factors in the accompanying product supplement.

Overview: UBS AG is offering Trigger Autocallable Contingent Yield Notes linked to United Airlines Holdings, Inc. (UAL) common stock, maturing on 30 June 2026.

Key Terms:

• Minimum investment: 100 Notes at $10 each (par value).
• Contingent coupon: 13.51%–14.65% per annum, paid quarterly when UAL closes at or above 60 % of the initial level (the coupon barrier).
• Automatic call: quarterly, beginning after 6 months, if UAL closes at or above the initial level; investors receive par plus any due coupon and the Notes terminate.
• Downside threshold: 60 % of the initial level. If not called and UAL finishes below this level at maturity, repayment is reduced one-for-one with the stock’s decline, potentially to $0.
• Estimated initial value: $9.52–$9.77 versus the $10 issue price, reflecting dealer margin (1.75 % per Note) and UBS funding spread.
• Issuer credit: Unsecured, unsubordinated debt of UBS AG; payments depend on UBS’s creditworthiness and are not FDIC-insured.

Risk Highlights: (1) Investors may receive no coupons; (2) full principal is protected only if UAL stays ≥ 60 % at maturity; (3) early call caps upside; (4) no listing or guaranteed secondary market; (5) settlement mismatch (T+2) versus standard T+1 could complicate early trading; (6) product embeds full equity downside plus issuer credit risk.

Distribution & Use of Proceeds: Underwritten by UBS Financial Services Inc. and UBS Investment Bank. UBS receives ~$9.825 per Note after underwriting discount, with proceeds used for general corporate purposes.

Investor Suitability: Designed for sophisticated investors who can tolerate equity-like downside, are comfortable with UBS credit exposure, and expect UAL to remain at or above 60 % of its initial level over the one-year term.

UBS AG (Ticker: WUCT) filed Amendment No. 1 to its June 20, 2025 pricing supplement under Rule 424(b)(3) for a $1.237 million issuance of Trigger Callable Contingent Yield Notes due June 25, 2029.

The Notes pay a contingent coupon of 8.50% p.a. only when the closing levels of the Dow Jones Industrial Average, Russell 2000 and S&P 500 are each at or above their 70 % coupon barriers on the corresponding monthly observation date. UBS may, at its sole discretion, call the Notes in whole on any observation date beginning after six months; if called, investors receive par plus the current coupon.

At maturity, investors receive par only if every index finishes at or above its 60 % downside threshold; otherwise the redemption value is reduced one-for-one with the worst-performing index, exposing investors to full downside market risk and potential total loss of principal. The offering price is $1,000 per Note, less a $7.50 underwriting discount; estimated initial value is $961.70, reflecting UBS’ internal funding rate. The Notes are unsecured, unsubordinated obligations of UBS, not FDIC-insured, and will not be listed on any exchange, limiting secondary-market liquidity.

Key dates include Trade Date 6/20/25, Settlement Date 6/25/25, monthly observation dates, Final Valuation Date 6/20/29 and Maturity 6/25/29. The filing reiterates extensive risk factors, emphasizing credit risk, market risk of each underlying index, call risk, valuation uncertainty and liquidity constraints.

UBS AG is issuing $2 million of unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of Salesforce, Inc. (CRM). The notes pay a quarterly contingent coupon of 10.55% p.a. only when the underlying closes at or above the Coupon Barrier of 65% of the initial level ($176.26). Any missed coupons can be recovered under the “memory” feature when a future observation meets the barrier.

Beginning six months after issuance, the notes are automatically called if CRM closes at or above the Call Threshold (100% of the initial level) on any quarterly observation. In that event, investors receive par plus the due coupon and any unpaid coupons, and the product terminates.

If not called, principal is protected only when the final level on 26 Jun 2028 is at or above the Downside Threshold of 65% of the initial level. Below this level investors are fully exposed to the percentage decline in CRM, potentially losing their entire investment.

Key dates include a Trade Date of 24 Jun 2025, Settlement on 27 Jun 2025 (T+3), quarterly observation dates, and maturity on 29 Jun 2028. The estimated initial value is $977.10 per $1,000 note, indicating an initial cost of roughly 2.3% relative to par. Issue price is $1,000; underwriting discount equals $23.50 per note, leaving net proceeds to UBS of $976.50.

The notes are not listed, carry UBS credit risk, and feature liquidity and valuation uncertainties. Investors should review the extensive risk discussions in the accompanying product supplement.

UBS AG London Branch is offering Contingent Income Auto-Callable Securities linked to the common stock of Citigroup Inc. (ticker “C UN”). The notes have a $1,000 denomination, are expected to price on 3 July 2025 and mature on 7 July 2028, unless called earlier.

The product pays a quarterly contingent coupon of $26.625 (10.65% p.a.) only if Citigroup’s closing share price on a determination date is at or above the 70% downside threshold. Should the price meet or exceed the 100% call threshold on any quarterly date, UBS will redeem the notes early at par plus the coupon. Investors receive no participation in upside; principal is protected only if the final price is at or above the threshold. If the final price falls below 70% of the initial level, repayment equals the share performance (cash-settled), exposing holders to losses up to 100% of principal.

The securities are unsecured, unsubordinated obligations of UBS; all payments are subject to the issuer’s credit risk. Estimated initial value is $940–$970, implying a 3–6% issuance premium over fair value, and the notes will not be listed on any exchange. Up-front selling concession is 2.25% of principal.

Key risks highlighted include: potential loss of principal, coupon discontinuation if the threshold is breached, early-call reinvestment risk, limited liquidity, valuation discounts in secondary trading, uncertain tax treatment, and UBS credit exposure (including possible FINMA-mandated bail-in or restructuring).