ETRACS Whitney US Critical Techs ETN SEC Filings

ChoiceOne Financial Services (COFS) – Form 4 Insider Transaction

On 07/01/2025, Director Randy D. Hicks, acting through the Randy D. Hicks Trust, acquired 495 shares of COFS common stock at $28.70 per share (Form 4 code “A”). The trust’s indirect holdings increased to 97,798 shares. No shares were sold and no derivative securities were reported.

The purchase is valued at roughly $14,200 (495 × $28.70) and adds about 0.5 % to the trust’s existing position. While the dollar amount is modest, continued insider buying can be interpreted by some investors as a sign of confidence in the bank’s near-term outlook.

UBS AG is offering unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. (GOOG) common stock. The notes are expected to price on 23 Jun 2025, settle on 25 Jun 2025 and mature on 25 Sep 2026, with a minimum purchase of 100 notes ($1,000).

Income profile: Investors may receive a quarterly contingent coupon equal to an annualized 9.15%–9.87% only when GOOG’s closing price on the observation date is at least 75% of the initial level (the coupon barrier). Miss the barrier, and that quarter’s coupon is forfeited.

Autocall feature: Starting after six months, if GOOG closes at or above the initial level on any quarterly observation date, UBS will automatically call the notes, paying principal plus the applicable coupon on the call settlement date, and the trade terminates early.

Principal risk: If the notes are not called and GOOG finishes below the 75% downside threshold on the 23 Sep 2026 final valuation date, repayment is reduced point-for-point with the underlying decline, potentially up to a 100% loss. Contingent principal protection applies only at maturity.

Pricing details: Issue price is $10.00; estimated initial value is $9.51–$9.76, implying a 2.4%–4.9% valuation discount and an underwriting fee of $0.175 per note. Payments remain subject to UBS’s creditworthiness. The notes will not be listed, and secondary market liquidity may be limited.

UBS AG is marketing unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation (NVDA), scheduled to mature on or about 25 June 2027. Investors will receive a quarterly contingent coupon only when NVDA’s closing level on the relevant observation date equals or exceeds a 50 % coupon barrier. The indicative annual coupon range is 8.23 %–8.86 %.

The notes may be automatically called after any quarterly observation if NVDA closes at or above the initial level; in that event, holders receive the principal plus the coupon for that period and the trade terminates early. If not called, principal is repaid in full at maturity provided NVDA’s final level is at or above the 50 % downside threshold. Should NVDA finish below that threshold, investors incur a loss equal to the full percentage decline of the stock, potentially forfeiting their entire investment.

Key dates are a 23 June 2025 trade date, 25 June 2025 settlement, and a 23 June 2027 final valuation. Minimum purchase is 100 notes (US $1,000). Issue price is US $10.00 per note; estimated initial value is US $9.53–US $9.78, reflecting dealer discounts and internal funding costs. The notes will not be listed on any exchange, and secondary market liquidity is expected to be limited. All payments depend on the creditworthiness of UBS AG; a UBS default could result in loss of all amounts due.

UBS AG is offering $400,000 of Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. (GOOG) common stock, maturing 26 June 2028. The notes are unsecured senior obligations that pay a quarterly contingent coupon of 8.73% p.a. only if the closing price of GOOG on each observation date is at or above the Coupon Barrier of $107.91 (65% of the $166.01 initial level). If on any quarterly observation date beginning after six months GOOG closes at or above the initial level, the notes are automatically called and investors receive the $10 principal plus the applicable coupon, terminating further payments.

Principal protection is conditional. If the notes are not called and the final level on 22 June 2028 is ≥ the Downside Threshold of $107.91, investors receive par. If the final level is below this threshold, repayment equals par reduced by the full percentage decline in GOOG, exposing investors to up to 100% loss. The notes therefore provide a 35% buffer but no participation above par other than coupon payments.

Key economic terms include:

• Issue price: $10.00 per note (minimum 100 notes)
• Estimated initial value: $9.73, indicating a 2.7% issuer discount
• Underwriting discount: $0.225 per note
• Settlement: T+2 on 25 June 2025; secondary trades settle T+1
• CUSIP/ISIN: 90309J370 / US90309J3703

Risk considerations: Investors face UBS credit risk, potential loss of coupons, full downside exposure below the 65% barrier, and limited secondary market liquidity as the notes will not be listed. The product is suitable only for investors who understand structured notes, can tolerate loss of principal, and have a bullish-to-neutral view on GOOG over the next three years.

UBS AG is issuing $456,000 of Trigger Autocallable Contingent Yield Notes linked to Alphabet Inc. (GOOG) maturing 26 June 2028. The notes are unsecured senior obligations that pay an 8.76% p.a. contingent coupon only when GOOG’s closing price on a quarterly observation date is at or above the Coupon Barrier of $107.91 (65% of the $166.01 initial level).

Automatic call: Beginning after 6 months, the notes will be redeemed early at par plus any due coupon if GOOG closes at or above the initial level on any observation date. If called, no further payments are made.

Downside exposure: If not called and GOOG is ≥ the Downside Threshold of $107.91 on the final valuation date (22 Jun 2028), investors receive full principal. Otherwise, repayment equals par reduced by GOOG’s percentage decline, exposing holders to up to 100% loss.

Economic terms:

• Issue price: $10.00; minimum purchase 100 notes.
• Estimated initial value: $9.74 (2.6% below issue price) reflecting dealer margins and UBS funding costs.
• Underwriting discount: $0.225 per note (2.25%).
• Notes will not be listed, limiting liquidity; secondary trades expected at bid-offer spreads.

Key risks: credit exposure to UBS, possibility of receiving few/no coupons, market and liquidity risks, and potential loss of principal if GOOG falls below the 65% threshold.

UBS AG is offering $150,000 in Trigger Autocallable Contingent Yield Notes linked to the common stock of Palantir Technologies Inc. (PLTR). Each Note has a $10 face value, trades on a T+2 basis, and matures on 25 June 2026 unless automatically called earlier. Investors may receive a contingent coupon of 24.66% p.a. (paid monthly) only when PLTR’s closing price on the relevant observation date is at or above the Coupon Barrier of $83.95 (60 % of the Initial Level of $139.92). If on any monthly observation date prior to maturity PLTR closes at or above the Initial Level, UBS will redeem the Notes at par plus the relevant coupon, terminating further payments.

If the Notes are not called and PLTR closes below the Downside Threshold of $83.95 on the final valuation date (23 June 2026), the redemption price will reflect the full percentage decline in PLTR, exposing investors to losses up to 100 % of principal. The estimated initial value calculated by UBS is $9.78 per Note, below the $10 issue price, highlighting embedded fees and structural costs. All payments are subject to UBS’s credit risk; the Notes are unsecured and unsubordinated and will not be listed on any exchange, limiting secondary-market liquidity.

Key dates: Trade date 23 June 2025; settlement 25 June 2025; monthly observations (see supplement); final valuation 23 June 2026. Minimum investment is 100 Notes ($1,000). Gross proceeds to UBS after a $0.125 underwriting discount are $148,125. Investors should review the detailed “Key Risks” and product supplement before investing, as the structure involves significant market, liquidity, and issuer-credit risks.

UBS AG is offering $100,000 of Trigger Autocallable Contingent Yield Notes linked to Marvell Technology, Inc. (MRVL) common stock, maturing June 25, 2026. The Notes are unsecured, unsubordinated debt obligations that pay a contingent coupon of 13.25% p.a. only if MRVL’s closing level on each bimonthly observation date is at or above the coupon barrier of $42.47 (60% of the $70.78 initial level).

Automatic call: If MRVL closes at or above the initial level on any observation date before maturity, the Notes are redeemed early at par plus the applicable coupon, ending further obligations. Downside protection is only contingent: if not called and the final level on June 23, 2026 is at or above the downside threshold of $35.39 (50% of initial), investors receive par; otherwise, repayment equals par minus the full percentage decline in MRVL, exposing holders to a 1-for-1 loss of principal—potentially all of it.

Key economic terms include: (i) $10 issue price (minimum purchase 100 Notes); (ii) underwriting discount of $0.125 (1.25%) per Note; (iii) estimated initial value of $9.77, below issue price, reflecting UBS’ internal models and funding costs; and (iv) CUSIP 90309J396, ISIN US90309J3968. Settlement is T+2 (June 25, 2025) and secondary market trades will normally settle T+1.

Principal risks: investors face issuer credit risk, market risk in MRVL shares, potential illiquidity (no exchange listing), non-payment of coupons if MRVL underperforms, and a misalignment between the issue price and estimated economic value. The structure is suitable only for investors willing to bear significant downside in exchange for a high conditional yield.

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.