By William Gullotti
Buffalo, N.Y., Feb. 2 – UBS AG, London Branch priced $1.26 million of trigger callable contingent yield notes due Jan. 23, 2026 linked to the worst performing of the VanEck Gold Miners ETF and the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15% if each ETF’s closing level is at least 63% of its initial level on the relevant observation date.
The notes will be callable at par plus any coupon due on any quarterly observation date after six months.
If the notes are not called and each ETF finishes at or above its 63% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by its initial level.
UBS Securities LLC and UBS Investment Bank are the agents.
| Issuer: | UBS AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying funds: | VanEck Gold Miners ETF, VanEck Vectors Oil Services ETF
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| Amount: | $1.26 million
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| Maturity: | Jan. 23, 2026
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| Coupon: | 15% per year, payable quarterly if each ETF closes at or above its coupon barrier level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each ETF finishes at or above trigger level; otherwise, receive a number of shares of the worst performer equal to its equity ratio
|
| Call option: | At par plus any coupon due on any quarterly observation date after six months
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| Initial levels: | $27.59 for Gold, $286.31 for Oil
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| Coupon barrier levels: | $17.38 for Gold, $180.38 for Oil; 63% of initial levels
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| Trigger levels: | $17.38 for Gold, $180.38 for Oil; 63% of initial levels
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| Equity ratios: | 36.245 for Gold, 3.4927 for Oil; shares delivered per note
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 23
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| Agents: | UBS Securities LLC and UBS Investment Bank
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| Fees: | 1.75%
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| Cusip: | 90279WK29
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