REG - UBS AG (EPT) TT Electronics PLC - Form 8.5 (EPT/RI) - TT Electronics Plc

HDLB: linked to the Solactive US High Dividend Low Volatility Index

SMHB: linked to the Solactive US Small Cap High Dividend Index

PFFL: linked to the Solactive Preferred Stock ETF Index

CEFD: linked to the S-Network Composite Closed-End Fund Index

MVRL: linked to the MVIS US Mortgage REITs Index

GLDI: linked to the Nasdaq Gold FLOWS(TM) 103 Index

SLVO: linked to the Nasdaq Silver FLOWS(TM) 106 Index

USOI: linked to the Nasdaq WTI Crude Oil FLOWS(TM) 106 Index

NEW YORK--(BUSINESS WIRE)--December 04, 2025--

UBS Investment Bank today announced coupon payments for 5 ETRACS Exchange Traded Notes traded on the NYSE Arca and expected coupon payments for 3 ETRACS Exchange Traded Notes traded on NASDAQ (together, the "ETNs").

 
                                                                                                Current 
         ETN Name and    Coupon                                                                 Yield 
NYSE     Prospectus      Valuation                              Payment      Coupon   Payment   (annualized) 
Ticker   Supplement(a)   Date         Ex-Date      Record Date  Date         Amount   Schedule  (b) 
         ETRACS Monthly 
          Pay 
          2xLeveraged 
          US High 
          Dividend Low 
          Volatility 
HDLB      ETN Series B   12/01/2025   12/12/2025   12/12/2025   12/22/2025   $0.1745  Monthly      12.52% 
         ETRACS 
          2xMonthly Pay 
          Leveraged US 
          Small Cap 
          High Dividend 
SMHB      ETN Series B   12/01/2025   12/12/2025   12/12/2025   12/22/2025   $0.0422  Monthly      19.76% 
         ETRACS 
          2xMonthly Pay 
          Leveraged 
          Preferred 
PFFL      Stock ETN      12/01/2025   12/12/2025   12/12/2025   12/22/2025   $0.1368  Monthly      13.39% 
         ETRACS Monthly 
          Pay 1.5X 
          Leveraged 
          Closed-End 
          Fund Index 
CEFD      ETN            12/01/2025   12/12/2025   12/12/2025   12/22/2025   $0.2210  Monthly      14.36% 
         ETRACS Monthly 
          Pay 1.5x 
          Leveraged 
          Mortgage REIT 
MVRL      ETN            12/01/2025   12/12/2025   12/12/2025   12/22/2025   $0.1670  Monthly      18.58% 
-------  --------------  -----------  -----------  -----------  -----------  -------  --------  ------------ 
 

(a) The table above provides a hyperlink to the relevant prospectus and supplements thereto for each of our ETRACS ETNs, which are identified by their names. For more information on each ETRACS ETN, see "List of ETNs".

(b) "Current Yield (annualized)" equals the current Coupon Amount and the two immediately preceding Coupon Amounts, multiplied by four (to annualize such coupons), divided by the closing Current Indicative Value of the ETN on its current Coupon Valuation Date rounded to two decimal places for ease of analysis. The Current Yield is not indicative of future coupon payments, if any, on the ETN. You are not guaranteed any coupon or distribution amount under the ETN.

Note: HDLB, SMHB and PFFL pay a variable monthly coupon linked to 2 times the cash distributions, if any, on the respective underlying index constituents, less withholding taxes, if any. CEFD and MVRL pay a variable monthly coupon linked to 1.5 times the cash distributions, if any, on the respective underlying index constituents, less withholding taxes, if any. Variations in the amount of monthly distributions will lead to large variations in the Current Yield as calculated above. As such, the Current Yield is not indicative of future coupon payments, if any, on these ETNs.

 
                                                                         Expected 
                          Closing                                         Coupon 
         ETN Name and    Indicative                                       Amount             Expected 
NASDAQ   Pricing          Value on                 Record     Payment      per     Payment    Current 
Ticker   Supplement(c)   11/28/2025   Ex-Date       Date        Date      ETN(d)   Schedule  Yield(e) 
-------  --------------  ----------  ----------  ----------  ----------  --------  --------  --------- 
         ETRACS Gold 
          Shares 
          Covered Call 
          ETNs due 
          February 2, 
 GLDI     2033           $172.6384   12/22/2025  12/22/2025  12/29/2025  $3.2409   Monthly   18.63%(f) 
-------  --------------  ----------  ----------  ----------  ----------  --------  --------  --------- 
         ETRACS Silver 
          Shares 
          Covered Call 
          ETNs due 
          April 21, 
 SLVO     2033            $97.4570   12/22/2025  12/22/2025  12/29/2025  $2.6875   Monthly   27.82%(f) 
-------  --------------  ----------  ----------  ----------  ----------  --------  --------  --------- 
         ETRACS Crude 
          Oil Shares 
          Covered Call 
          ETNs due 
          April 24, 
 USOI     2037            $48.8447   12/22/2025  12/22/2025  12/29/2025  $0.6282   Monthly   16.17%(f) 
-------  --------------  ----------  ----------  ----------  ----------  --------  --------  --------- 
 

(c) The table above provides a hyperlink to the relevant prospectus and supplements thereto for each of our ETRACS ETNs, which are identified by their names.

(d) On November 17, 2025, the Nasdaq Gold FLOWS(TM) 103 Index, the Nasdaq Silver FLOWS(TM) 106 Index and the Nasdaq WTI Crude Oil FLOWS(TM) 106 Index (the "Indices") concluded the notional sale of options on GLD shares, SLV shares and USO shares, respectively, with December 2025 expiration. We expect that the notional cash distribution generated by this sale of options will be withdrawn from the Indices on December 15, 2025, subject to adjustment in the event of any market disruption events. Assuming no redemption or acceleration of GLDI, SLVO and USOI, and that the notional cash distribution is withdrawn from the Indices on December 15, 2025, we expect to declare a Coupon Amount for GLDI, SLVO and USOI, respectively, equal to the corresponding Expected Coupon Amount. The Expected Coupon Amount is subject to change upon the occurrence of a disruption event or other unforeseen circumstances.

(e) For each ETN, the Expected Current Yield equals the Expected Coupon Amount annualized and divided by the Closing Indicative Value, as discussed in more detail below. The Expected Current Yield, which is based on an ETN's Expected Coupon Amount and its two most recent coupon payments, is not indicative of future coupon payments, if any, on the ETNs. In particular, future coupon payments on an ETN may differ significantly from its Expected Current Yield, if its Closing Indicative Value fluctuates widely in a volatile market. You are not guaranteed any coupon payment or distribution under the ETNs. Coupon payments for the ETNs (if any) are variable and do not represent fixed, periodic interest payments. The Expected Coupon Amount for any ETN may vary significantly from coupon period to coupon period and may be zero. Accordingly, the Expected Current Yield will change over time, and such change may be significant. Any payment on the ETNs is subject to UBS AG's ability to pay its obligations as they become due. For more information regarding any ETN's coupon payments, please refer to such ETN's pricing supplement.

(f) "Expected Current Yield" equals the sum of (i) the Expected Coupon Amount, plus (ii) the amount of the ETN's two most recent coupon payments, multiplied by four (to annualize such coupons), divided by the Closing Indicative Value, and rounded to two decimal places for ease of analysis. The Expected Current Yield is subject to change upon the occurrence of a disruption event or other unforeseen circumstances.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" that are subject to risks and uncertainties, and actual results may differ materially. These statements could contain words such as "possible," "intend," "will," "may," "intends," "would," "if," "expect," "potentially" or other similar expressions. Forward-looking statements, including those relating to UBS AG's plans for the ETNs, are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. While these forward-looking statements represent UBS's judgments, expectations and objectives concerning the matters described, a number of risks, uncertainties and other important factors, including whether UBS AG will actually declare a Coupon Amount for the 3 ETNs traded on NASDAQ, could cause actual developments and results to differ materially from UBS's expectations. For a discussion of the risks and uncertainties that may affect the ETNs please refer to the "Risk Factors" in the prospectus supplements and pricing supplement relating to the 3 ETNs traded on NASDAQ. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

About ETRACS

ETRACS ETNs are senior unsecured notes issued by UBS AG, are traded on either NYSE Arca or NASDAQ, and can be bought and sold through a broker or financial advisor. An investment in ETRACS ETNs is subject to a number of risks, including the risk of loss of some or all of the investor's principal, and is subject to the creditworthiness of UBS AG. Investors are not guaranteed any coupon or distribution amount under the ETNs. We urge you to read the more detailed explanation of risks described under "Risk Factors" in the applicable prospectus supplement for the ETRACS ETN.

UBS AG has filed a registration statement (including a prospectus and supplements thereto) with the Securities and Exchange Commission, or SEC, for the offerings of securities to which this communication relates. Before you invest, you should read the relevant prospectus, along with the applicable prospectus supplement and pricing supplements to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the ETRACS ETNs. The applicable offering document for each ETRACS ETN may be obtained by clicking on the name of each ETRACS ETN identified above. You may also get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request the prospectus, the applicable prospectus supplement or pricing supplement, by calling toll-free (+1-877-387-2275). The securities related to the offerings are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 6.9 trillion dollars of invested assets as per the third quarter 2025. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

In the US, securities underwriting, trading and brokerage activities and M&A advisor activities are provided by UBS Securities LLC, a registered broker/dealer that is a wholly owned subsidiary of UBS AG, a member of the New York Stock Exchange and other principal exchanges, and a member of SIPC (http://www.sipc.org/). UBS Financial Services Inc. is a registered broker/dealer and affiliate of UBS Securities LLC.

This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates ("UBS"). This document was produced by and the opinions expressed are those of UBS as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of UBS to any person to buy or sell any security. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but UBS does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof. Products and services mentioned in this material may not be available for residents of certain jurisdictions. Past performance is not necessarily indicative of future results. Please consult the restrictions relating to the product or service in question for further information.

The financial instrument is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or the Index Price at any time or in any other respect.

The S-Network Composite Closed-End Fund Index is a service mark of S-Network Global Indexes, Inc. ("S-Network") and its use is granted under a license from S-Network. S-Network does not guarantee the accuracy and/or completeness of the S-Network Composite Closed-End Fund Index or any data included therein, and S-Network shall have no liability for any errors, omissions, interruptions, or defects therein. S-Network makes no warranty, express or implied, representations or promises, as to results to be obtained by UBS AG, or any other person or entity from the use of the S-Network Composite Closed-End Fund Index or any data included therein. S-Network makes no express or implied warranties, representations or promises, regarding the originality, merchantability, suitability, non-infringement, or fitness for a particular purpose or use with respect to the S-Network Composite Closed-End Fund Index or any data included therein. Without limiting any of the foregoing, in no event shall S-Network have any liability for any direct, indirect, special, incidental, punitive, consequential, or other damages (including lost profits), even if notified of the possibility of such damages.

The ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN ("MVRL ETN") is not sponsored, endorsed, sold or promoted by MarketVector Indexes GmbH ("Licensor") and Licensor makes no representation or warranty, express or implied, to the owners of the MVRL ETN or any member of the public regarding the advisability of investing in securities generally or in the MVRL ETN particularly or the ability of the Market Vectors(R) US Mortgage REITs Index to track the performance of the US mortgage REIT market.

UBS specifically prohibits the redistribution or reproduction of this communication in whole or in part without the prior written permission of UBS and UBS accepts no liability whatsoever for the actions of third parties in this respect.

(c) UBS 2025. The key symbol, UBS and ETRACS are among the registered and unregistered trademarks of UBS. Other marks may be trademarks of their respective owners. All rights reserved.

__________________________________

(1) Individual investors should instruct their broker/advisor/custodian to call us or should call together with their broker/advisor/custodian.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251204839909/en/

CONTACT: Media contact

Alison Keunen

+1-212-713-2296

alison.keunen@ubs.com

Institutional Investor contact(1)

+1-877-387-2275

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1.         KEY INFORMATION

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)        Rights to subscribe for new securities (including directors' and other employee options)

• Class of relevant security in relation to which subscription right exists:

• Details, including nature of the rights concerned and relevant percentages:

3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

 (b)       Cash-settled derivative transactions

• Class of relevant security

• Product description

  e.g. CFD

• Nature of dealing

  e.g. opening/closing a long/short position, increasing/reducing a long/short position

• Number of reference securities

• Price per unit

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

• Class of relevant security

• Product description e.g. call option

• Writing, purchasing, selling, varying etc.

• Number of securities to which option relates

• Exercise price per unit

• Type

  e.g. American, European etc.

• Expiry date

• Option money paid/ received per unit

(ii)        Exercise

• Class of relevant security

• Product description

  e.g. call option

• Exercising/ exercised against

• Number of securities

• Exercise price per unit

(d)        Other dealings (including subscribing for new securities)

• Class of relevant security

• Nature of dealing

  e.g. subscription, conversion

• Details

• Price per unit (if applicable)

4.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

• Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

  Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"

• NONE

(b)        Agreements, arrangements or understandings relating to options or derivatives

• Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:

  (i)  the voting rights of any relevant securities under any option; or

  (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

  If there are no such agreements, arrangements or understandings, state "none"

• NONE

(c)        Attachments

• Is a Supplemental Form 8 (Open Positions) attached?

• NO

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk.  The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

* this report is on behalf of:

• UBS Asset Management (UK) Limited

• UBS Asset Management (Americas) LLC

• UBS Asset Management Switzerland AG

• UBS Asset Management (Australia) Ltd

• UBS Asset Management (Singapore) Limited

• UBS Asset Management (Hong Kong) Limited

• UBS Asset Management (Taiwan) Limited

• UBS Asset Management (Japan) Limited

• UBS Asset Management (Europe) S.A. - Germany Branch

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  RETFSIFLLEISEDE

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the Code)

1.         KEY INFORMATION

2.         DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

(b)        Cash-settled derivative transactions

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

• Class of relevant security

• Product description e.g. call option

• Writing, purchasing, selling, varying etc.

• Number of securities to which option relates

• Exercise price per unit

• Type

  e.g. American, European etc.

• Expiry date

• Option money paid/ received per unit

(ii)        Exercise

• Class of relevant security

• Product description

  e.g. call option

• Exercising/ exercised against

• Number of securities

• Exercise price per unit

(d)        Other dealings (including subscribing for new securities)

• Class of relevant security

• Nature of dealing

  e.g. subscription, conversion

• Details

• Price per unit (if applicable)

3.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

• Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

  Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none "

• None

(b)        Agreements, arrangements or understandings relating to options or derivatives

• Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:

  (i)  the voting rights of any relevant securities under any option; or

  (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

  If there are no such agreements, arrangements or understandings, state "none"

• None

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.  END  FERFLFLLFTLSIIE

Remy Cointreau's new chief executive is signaling for a significant strategic shift to reprioritize top-line growth, which could come at the expense of gross margins, UBS analysts Sanjeet Aujla and Ella Hong say in a research note. On the one hand, the French distiller is making bold changes. However, the pivot might require upfront sales and distribution investment before any return on investment happens, the analysts say. That implies fiscal 2027 is unlikely to be a margin-improvement year, they add. While shares are already down 32% year to date and down 26% in the past three months, the stock could slip even further, the analysts say. UBS lowers its recommendation to sell from neutral and cuts the price target to 33.00 euros from 53.00 euros. Shares trade 1.7% lower at 37.08 euros. (nina.kienle@wsj.com)