ETRACS Whitney US Critical Techs ETN SEC Filings

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.

UBS AG is offering $1.135 million of Trigger Callable Contingent Yield Notes that mature on December 23, 2027 and are linked to the least-performing of three ETFs: SPDR EURO STOXX 50 (FEZ), SPDR S&P Regional Banking (KRE) and Utilities Select Sector SPDR (XLU). The notes are unsecured, unsubordinated debt obligations of UBS and will not be listed on any exchange.

Coupon mechanics: Investors receive a 10.45% p.a. contingent coupon only if, on the monthly observation date, the closing level of each ETF is at or above its coupon barrier (60% of the initial level). Miss the barrier for any ETF and that period’s coupon is forfeited.

Issuer call feature: Beginning after three months, UBS may redeem the notes on any observation date at par plus any due coupon, regardless of ETF performance. Early redemption ends further payments.

Principal at risk: If not called, full principal is returned at maturity only when the final level of each ETF is at or above its downside threshold (55% of the initial level). Otherwise, repayment is reduced one-for-one with the worst-performing ETF, potentially to zero, exposing investors to the full market downside of that ETF.

Key pricing details:

• Issue price: $1,000 per note
• Estimated initial value: $983.20 (reflects dealer spreads & UBS funding costs)
• Underwriting discount: $7.00 per note (re-allowed in full to third-party dealers)
• Trade date: June 20, 2025  |  Settlement: June 25, 2025 (T+3)

Risk highlights: Investors face credit risk of UBS, potential loss of all principal, uncertain coupon stream, early-call reinvestment risk, liquidity constraints (no exchange listing) and an initial value below issue price. Higher coupon compensates for these elevated risks.

UBS AG has issued $500,000 in Trigger Callable Contingent Yield Notes linked to the performance of Dow Jones Industrial Average, Nasdaq-100 Technology Sector Index, and Russell 2000 Index, maturing June 25, 2029. The notes offer an 11.05% per annum contingent coupon rate, payable if all underlying assets close at or above their 75% coupon barriers. UBS can call the notes after 6 months on any observation date. At maturity, if not called, investors receive full principal if all assets close at/above 60% downside thresholds; otherwise, losses track the worst-performing asset. Initial valuations: DJIA (42,206.82), NDXT (11,057.73), RTY (2,109.267). The estimated initial value is $981.40 per $1,000 note. Key risks include potential loss of principal, credit risk of UBS, and no guaranteed coupons. The notes are not bank deposits and lack FDIC insurance.

UBS AG has issued $477,000 in Trigger Autocallable Contingent Yield Notes due 23 Jun 2028 linked to the worst performer of NVIDIA (NVDA), Palantir (PLTR) and Tesla (TSLA). The notes offer a 20.00% p.a. contingent coupon payable monthly if, on any observation date, all three shares close at or above their 50% coupon barrier. Unpaid coupons accrue under a memory-interest feature.

An automatic call is triggered if, after the first three months, each share closes at or above its 100% call threshold on any observation date; investors then receive par plus accrued coupons and the note terminates early. If not called, principal repayment depends on a “threshold event.” Should the final price of every share be below its upper barrier (100%) and at least one share finish below its downside threshold (50%), investors suffer a loss equal to the negative return of the worst-performing share, up to total loss of principal.

The estimated initial value is $951.10 per $1,000 note (95.11% of par), reflecting internal funding costs and dealer spread ($24 underwriting discount). Settlement is T+3 on 25 Jun 2025; secondary trades settle T+1. The notes are unsecured, unsubordinated obligations of UBS AG and are not FDIC-insured or exchange-listed.

Key risks include full market downside below the 50% threshold, coupon non-payment if any share breaches its barrier, liquidity constraints, and issuer credit risk. These structured notes are designed for investors seeking high contingent income and willing to accept concentrated equity and credit exposure in exchange.