ETRACS Whitney US Critical Techs ETN SEC Filings

UBS AG is offering $400,000 of Trigger Autocallable Contingent Yield Notes linked to Snap Inc. common stock. The notes are unsubordinated, unsecured debt maturing on 1 July 2026 and priced at $10 per note (minimum investment 100 notes). Investors may receive a contingent quarterly coupon of 28.29% p.a. (7.0725% per quarter) only when Snap’s closing price on the relevant observation date is at least 60% of the initial level ($8.72).

Automatic call: Beginning after six months, if Snap’s price on any quarterly observation date is equal to or above the initial level, UBS will redeem the notes early at par plus the applicable coupon, terminating future payments.

Downside protection: If the notes are not called and the final level on 29 June 2026 is at or above the downside threshold of $5.23 (60% of initial), principal is repaid in full. Otherwise, repayment is reduced one-for-one with Snap’s percentage decline, exposing investors to up to 100% loss.

Key economics: Estimated initial value is $9.72, below the issue price, reflecting fees and UBS’s funding spread. Underwriting discount totals $7,000 (0.175 per note). Settlement is T+2 (1 July 2025).

Risks: Investors face equity market risk in Snap shares, issuer credit risk, liquidity risk (no exchange listing) and the possibility of receiving few or no coupons. The contingent repayment of principal applies only at maturity; early secondary-market sales may realize substantial losses.

UBS AG is offering $1.7 million of Trigger Autocallable Contingent Yield Notes linked to Bank of America Corporation (BAC) common stock, maturing July 1 2027. The $10 par notes pay a contingent quarterly coupon of 8.13% per annum only when BAC’s closing level on an observation date is at or above the coupon barrier of $32.04 (68% of the $47.12 initial level). If on any quarterly observation date before maturity BAC 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.

At maturity, if the notes have not been called and BAC’s final level is at or above the downside threshold of $32.04, investors receive full principal. Should BAC close below the threshold, repayment is reduced 1-for-1 with the underlying decline, exposing holders to the full downside of BAC shares and potential total loss of principal. The contingent principal protection applies only at maturity and does not prevent interim price erosion.

The notes are unsubordinated, unsecured UBS debt; payments depend on UBS’s creditworthiness. The estimated initial value is $9.81, below the $10 issue price, reflecting structuring costs and UBS’s internal funding rate. Minimum investment is 100 notes ($1,000). The securities will not be listed on any exchange and may have limited secondary liquidity. Settlement is T+2; secondary trades prior to settlement require alternative arrangements because of the new T+1 standard.

Key risks highlighted include loss of principal, non-payment of coupons, issuer credit risk, and limited liquidity. Investors should review the “Key Risks” and “Risk Factors” sections and be comfortable with the structure before investing.

UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to Palantir Technologies Inc. (PLTR) common stock, maturing July 1, 2026. The Notes pay a contingent coupon of 23.58% per annum only if PLTR’s closing price on each quarterly observation date is at or above the coupon barrier of $78.44 (60 % of the $130.74 initial level). If PLTR closes at or above the initial level on any observation date, the Notes are automatically called and investors receive par plus the applicable coupon; no further payments are made.

If not called, repayment at maturity depends on PLTR’s final level. Investors receive full principal only if the final level is at or above the downside threshold of $78.44. Otherwise, repayment is reduced one-for-one with PLTR’s decline, potentially to zero. Contingent principal protection therefore applies solely at maturity and only above the 60 % threshold.

The estimated initial value is $9.70 per $10 note, indicating a 3 % valuation discount driven by UBS’s internal funding spread and structuring costs. The issue carries a $0.15 underwriting discount; net proceeds to UBS are $9.85 per note. Minimum purchase is 100 notes ($1,000 face). The securities are unsecured and unsubordinated obligations of UBS AG; payments depend on UBS’s creditworthiness. The Notes will not be listed on any exchange, limiting liquidity, and secondary market sales may require special settlement arrangements due to T+2 initial settlement.

Key dates include a trade date of June 27 2025, settlement on July 1 2025, quarterly observation dates (page 4 of the supplement) and a final valuation date of June 29 2026. Investors are urged to review “Key Risks” (page 5) and the February 6 2025 product supplement before investing, as the Notes carry significant market, liquidity and credit risks.

UBS AG is offering $500,000 of Trigger Autocallable Contingent Yield Notes (minimum purchase 100 notes at $10 each) linked to the common stock of Palantir Technologies Inc. (PLTR). The notes settle on 1 July 2025, pay a contingent coupon of 26.09% p.a. on quarterly observation dates and mature on 1 July 2026.

Key mechanics:

• Contingent coupon: paid only if the underlying closes ≥ the Coupon Barrier (60 % of the Initial Level, $78.44) on the relevant observation date; otherwise zero.
• Automatic call: if PLTR closes ≥ the Initial Level ($130.74) on any observation date, investors receive par plus the contingent coupon and the deal terminates early.
• Principal at risk: if not called and PLTR closes < the Downside Threshold (also 60 % of Initial Level) on the final valuation date, investors suffer a loss matching the underlying’s percentage decline, potentially up to 100 % of principal.

The notes are unsecured, unsubordinated obligations of UBS AG, exposed to the issuer’s credit risk. They will not be listed on any exchange, and secondary liquidity is not assured. Estimated initial value: $9.77 versus $10.00 issue price, reflecting dealer margin and funding costs. Underwriting discount is $0.15 per note; net proceeds to UBS are $9.85 per note.

The product targets investors comfortable with high coupon/ high risk structured notes who are moderately bullish to neutral on PLTR and willing to accept full downside exposure and potential non-payment of coupons.

UBS AG is offering unsecured, unsubordinated Trigger Autocallable Contingent Yield Notes linked to Royal Caribbean Cruises Ltd. (RCL) stock, maturing on 3 July 2028. The $10 denomination notes pay a contingent coupon of 9.15 %-10.07 % p.a. only when RCL’s closing price on a quarterly observation date is at or above the 60 % coupon barrier.

Automatic call: If RCL closes at or above the initial level on any observation date before maturity, the notes are called and investors receive par plus the coupon for that period; no further payments are made.

Principal risk at maturity: • If not called and the final price is ≥ 60 % of the initial level, investors receive par. • If the final price is < 60 %, repayment equals par reduced by the full percentage decline in RCL, exposing investors to up to 100 % loss of principal.

Key terms: Initial trade date 27 Jun 2025; settlement 1 Jul 2025 (T+2). Estimated initial value: $9.46-$9.71 versus $10 issue price, reflecting dealer discount ($0.225) and UBS funding spread. Minimum purchase 100 notes ($1,000). The notes are not listed, are subject to UBS credit risk, and are ineligible for FDIC insurance.

• Coupon barrier / downside threshold: 60 % of initial level
• Observation frequency: quarterly
• Secondary-market trades will settle T+1; investors must arrange alternative settlement if trading before initial issue settlement.

The documents remain preliminary; final terms, including the exact coupon rate and initial level, will be fixed on the trade date. Investors should review the “Key Risks” and accompanying product supplement before investing.

UBS AG is marketing unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to Snap Inc. common stock, maturing on or about 1 July 2026. The notes offer a contingent quarterly coupon of 22.03%–23.99% per annum when Snap’s closing price on an observation date is at or above a 60% coupon-barrier of the yet-to-be-set initial level. Starting after six months, the notes will be automatically called if Snap closes at or above the initial level on any observation date; investors then receive par plus the applicable coupon and the trade terminates early.

If not called, principal is protected only when the final level remains at or above 60% of the initial level. Should the final level breach this downside threshold, repayment equals par reduced by Snap’s percentage decline, exposing investors to full downside risk. Estimated initial value is $9.45–$9.70 per $10 note, reflecting dealer margins and UBS’s internal funding rate. Minimum investment is 100 notes ($1,000), and the securities will not be exchange-listed. All payments depend on UBS credit quality; a UBS default could result in total loss.

The offering settles T+2 on 1 July 2025. Underwriting discount is $0.175 per note, leaving net proceeds of $9.825 to UBS. Investors should review the extensive risk disclosures in the product supplement and consider liquidity constraints, as secondary trading may be limited.

UBS AG plans to issue Trigger Autocallable Contingent Yield Notes linked to the common stock of Bank of America Corporation (BAC). The notes are senior, unsecured obligations maturing on or about 1 July 2027 with a 2-year tenor. Investors may receive a contingent quarterly coupon of 5.25 %–6.22 % per annum only if BAC’s closing price on the relevant observation date is at least 68 % of the initial level (the coupon barrier).
• Automatic call: If on any quarterly observation date BAC’s price is at or above the initial level, UBS will redeem the notes early at par plus the contingent coupon.
• Principal risk at maturity: If the notes are not called and BAC’s final level is ≥ 68 % of the initial level, investors receive par; otherwise, repayment equals par reduced by the full percentage decline in BAC, exposing investors to up to a 100 % loss of principal.
• Key economics: Issue price = $10; minimum purchase = 100 notes ($1,000). Underwriting discount = $0.15 per note. The estimated initial value is $9.53–$9.78 (95.3 %–97.8 % of par), reflecting UBS’s internal funding spread.
• Settlement: Trade date 27 Jun 2025; settlement 1 Jul 2025 (T+2). Notes will not be listed, and any secondary market will be limited and at UBS’s discretion.
• Risks: investors face BAC single-stock volatility, contingent coupon uncertainty, downside market exposure below the 32 % buffer, potential illiquidity, and UBS credit risk because payments depend on the issuer’s solvency.

UBS AG is offering $100,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. (CRWD), maturing July 3, 2028.

Key economic terms:

• Issue price: $10 per Note; minimum purchase 100 Notes
• Contingent coupon: 11.20% p.a., payable quarterly only if CRWD’s closing price on the observation date is ≥ the Coupon Barrier (60 % of the Initial Level, $299.60)
• Automatic call: If CRWD closes ≥ the Initial Level ($499.33) on any quarterly observation date, investors receive the principal plus the contingent coupon and the Note terminates early
• Downside protection: Conditional—if not called and the Final Level on June 29, 2028 is ≥ the Downside Threshold (50 % of the Initial Level, $249.67) principal is repaid; otherwise repayment equals principal reduced one-for-one by the stock’s decline, exposing investors to full downside risk
• Estimated initial value: $9.67 (3.3 % below issue price), reflecting selling concession and UBS’s funding spread
• Settlement: T+2 (July 1, 2025); CUSIP 90309J834; ISIN US90309J8348

Risk considerations: The Notes are unsecured and unsubordinated obligations of UBS AG; repayment depends on UBS’s creditworthiness. They are not listed, may suffer poor liquidity, and investors may lose some or all of their capital and may receive few or no coupons. The offering carries conflicts of interest as UBS and its affiliates act as issuer, calculation agent and distributor.