ETRACS Whitney US Critical Techs ETN SEC Filings

UBS AG is marketing unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes tied to the common stock of Palantir Technologies Inc. (PLTR). The one-year notes (trade date 27 Jun 2025; maturity 1 Jul 2026) pay a contingent quarterly coupon of 22.24%–24.27% p.a. whenever PLTR’s closing price on an observation date is at least the coupon barrier, set at 60 % of the initial level.

An automatic call is triggered if PLTR closes at or above the initial level on any quarterly observation date, returning the $10 principal plus the due coupon on the related payment date. If not called, principal is protected only when the final level ≥ 60 % of the initial level (downside threshold). Otherwise, repayment is reduced one-for-one with PLTR’s decline, potentially leading to a total loss of principal.

The notes are offered at $10 with a 1.5 % underwriting discount; estimated initial value is $9.50–$9.75, reflecting dealer margin and UBS’s funding spread. They will not be exchange-listed, and secondary liquidity is expected to be limited. All payments depend on UBS’s creditworthiness; default would leave investors with no recovery. Investors must therefore weigh the attractive headline yield against equity-level downside, credit risk, liquidity constraints and an initial value below par.

UBS AG is offering unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes linked to the common stock of CrowdStrike Holdings, Inc. (CRWD) and maturing on or about July 3, 2028. The notes pay a contingent quarterly coupon of 10.20 %–11.19 % per annum only when CRWD’s closing price on the relevant observation date is at or above the 60 % coupon barrier.

Automatic call: If on any quarterly observation date prior to maturity CRWD closes at or above the initial level, UBS will redeem the notes at par plus the applicable coupon, terminating further payments.

Downside protection: If not called, principal is repaid at maturity provided CRWD’s final level is at or above the 50 % downside threshold. Otherwise, investors incur a loss matching the full percentage decline of CRWD; a complete loss is possible.

The notes price at $10.00 each (minimum purchase = 100 notes), with an underwriting discount of $0.225 per note and estimated initial value between $9.47 – $9.72, reflecting structuring and hedging costs. Settlement is expected July 1, 2025 (T+2). The notes are not listed, expose holders to UBS credit risk, and may be illiquid in the secondary market. They are not FDIC-insured. Any investor must be able to tolerate loss of principal and absence of coupons.

UBS AG is offering $1,000,000 aggregate principal of Trigger Autocallable Contingent Yield Notes linked to the common stock of Alcoa Corporation (AA). The notes price on 27 Jun 2025, settle 1 Jul 2025 and mature 1 Jul 2026, unless automatically called earlier.

Income mechanics: investors may receive a 17.21% p.a. contingent coupon, paid quarterly, but only when Alcoa’s closing price on the relevant observation date is at or above the coupon barrier of $17.08 (60 % of the $28.47 initial level). Miss the barrier and the coupon for that quarter is forfeited.

Autocall feature: if on any observation date prior to final valuation Alcoa’s price is at or above the initial level, UBS automatically redeems at par plus the contingent coupon, terminating the deal.

Principal risk: if not called and Alcoa closes below the $17.08 downside threshold on the 29 Jun 2026 final valuation date, repayment is reduced dollar-for-dollar with the underlying decline; a 40 % or greater drop leads to partial or total loss of the $10 per note principal.

Credit & market considerations: all payments rely on UBS credit. The notes are unsecured, unsubordinated and will not be listed, limiting liquidity. The estimated initial value is $9.87, 1.3 % below the $10 issue price, and an underwriting discount of $0.10 per note applies.

Size & denomination: minimum purchase is 100 notes ($1,000) in $10 increments. Investors should review the extensive risk factors referenced in the product supplement and prospectus before investing.

UBS AG is marketing an unsecured, unsubordinated structured note—“Trigger Autocallable Contingent Yield Notes”—linked to the common stock of Alcoa Corporation (ticker: AA). The notes are expected to price on 27 Jun 2025, settle on 1 Jul 2025, and mature on 1 Jul 2026 unless called earlier.

Income potential. Investors will receive a quarterly contingent coupon of 13.75 %-15.01 % p.a. only if, on each observation date, AA’s share price is at or above the 60 % coupon barrier. Missed coupons are not recoverable.

Automatic call. If AA closes at or above its initial level on any quarterly observation date, UBS will call the notes and return par + the applicable coupon; no further payments will be made.

Principal risk. If the notes are not called and AA’s final level on 29 Jun 2026 is below the 60 % downside threshold, repayment will be reduced one-for-one with the underlying decline, potentially to $0. Only if AA finishes at or above 60 % of the initial level is par returned.

Credit & valuation. All payments depend on UBS’s creditworthiness; the notes are not FDIC-insured. UBS estimates the initial value at $9.59-$9.84 versus the $10.00 issue price, reflecting a 1 % underwriting discount and embedded fees. Minimum investment is 100 notes ($1,000).

Liquidity & suitability. The notes will not be exchange-listed, and secondary market trading is expected to be limited. The offering documents emphasize that the product suits investors who can tolerate total loss of principal, limited liquidity, and dependence on a single underlying equity.

UBS AG is issuing $250,000 of Trigger Autocallable Contingent Yield Notes linked to the common stock of NVIDIA Corporation (NVDA). The notes are senior, unsecured obligations that mature on July 3, 2028 and settle on July 1, 2025. Investors may receive a 10.39 % annual contingent coupon, paid quarterly, but only if NVDA’s closing price on the relevant observation date is at least 60 % of the initial level ($94.65). If the underlying closes at or above the $157.75 initial level on any quarterly observation date, the notes autocall and return the principal plus the coupon.

If the notes are not called, principal is protected at maturity only when NVDA’s final level is at or above the 50 % downside threshold ($78.88). Otherwise, investors suffer a loss matching the full percentage decline in NVDA, up to a 100 % loss of principal. The estimated initial value is $9.70 per $10 note, reflecting a 3 % difference due to UBS’s pricing assumptions and a $0.225 (2.25 %) underwriting discount. The notes will not be listed on any exchange, and secondary-market liquidity is expected to be limited.

Any payment is subject to UBS’s creditworthiness; a UBS default could result in a total loss. The product targets investors comfortable with equity-linked downside risk, uncertain coupon payments and limited liquidity in exchange for an above-market potential yield.

UBS AG filed a Rule 424(b)(2) pricing supplement for $500,000 of Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the common stock of The Mosaic Company (MOS). The notes are senior, unsecured obligations that settle 30 June 2025 (T+2) and mature 29 June 2028, unless automatically called earlier.

Income mechanics: Investors may receive a contingent coupon of 11.40% p.a., paid quarterly, whenever MOS closes at or above the Coupon Barrier = $22.87 (65 % of the $35.18 initial level). Missed coupons can be recovered later through the memory-interest feature.

Autocall feature: Starting after six months, UBS will redeem the notes at par plus the applicable coupon (and any unpaid coupons) if MOS closes at or above the Call Threshold = 100 % of the initial level on any observation date. Once called, no further payments are due.

Principal repayment: If not called, holders receive par at maturity provided MOS is at or above the Downside Threshold = $22.87 (65 % of initial). Otherwise, repayment is reduced one-for-one with MOS’s decline, exposing investors to up to 100 % capital loss.

Cost & valuation: Issue price is $1,000 per note; estimated initial value is $969.80, reflecting underwriting discount of $25 (2.5 %) and UBS’s funding spread. Notes will not be listed, and secondary liquidity is expected to be limited. All payments are subject to UBS AG credit risk.

Key dates: Trade 26 Jun 2025, quarterly observations, final valuation 26 Jun 2028, maturity 29 Jun 2028.

Risk highlights: Investors face (i) full downside market risk below 65 % barrier, (ii) potential non-payment of coupons, (iii) issuer credit risk, and (iv) liquidity constraints due to the absence of an exchange listing.

UBS AG is offering unsubordinated, unsecured Trigger Autocallable Contingent Yield Notes with Memory Interest linked to the least-performing of Apple Inc. (AAPL), Alphabet Inc. Class A (GOOGL) and NVIDIA Corp. (NVDA).

Key commercial terms

• Issue price: $1,000 per Note; proceeds to UBS: $994; underwriting discount: $6.
• Trade date: 2 Jul 2025; settlement: 8 Jul 2025 (T+3); maturity: 7 Jan 2027.
• Contingent coupon: 17.25% p.a., payable monthly if all three shares close ≥ their 70 % coupon barrier on the relevant observation date. Missed coupons are paid later via the memory interest feature.
• Automatic call: monthly, first possible after 3 months, if all shares close ≥ 100 % of initial level; investors then receive par plus any due / unpaid coupons.
• Principal at maturity: repaid in full only if (i) no prior call and (ii) each share ≥ 55 % downside threshold on final valuation date. Otherwise, payment is par × (1 + worst-asset return), exposing investors to full downside of the weakest stock; loss can reach 100 %.
• Estimated initial value: $938–$968, reflecting UBS’s internal models and funding spread.
• Notes are not listed; secondary liquidity solely through dealers; settlement mismatch (T+3 versus market T+1) may require alternative arrangements.

Risk highlights

• Market risk concentrated in the worst performer; substantial loss if any share falls > 45 %.
• No coupon if any share is below its barrier on an observation date; investors could receive zero income.
• Credit exposure to UBS AG; product is an unsecured debt obligation.
• Secondary market pricing likely below par because the estimated value is 3.2 %–6.2 % under issue price and liquidity is limited.

The preliminary supplement stresses that the Notes are “significantly riskier than conventional debt instruments” and are suitable only for investors who understand structured-product risk and UBS credit exposure.