UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 6-K

REPORT OF FOREIGN PRIVATE

ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

Date: August 5, 2025

UBS AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

Aeschenvorstadt 1, 4051 Basel, Switzerland

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrant files or will file annual

reports under cover of

Form 20-F or Form 40-F.

Form 20-F

☒

Form 40-F

☐

UBS AG produces regular annual and quarterly reports, which are submitted

to the SEC under

Forms 20-F and 6-K, respectively. UBS AG’s consolidated financial statements are prepared in

accordance with IFRS Accounting Standards. SEC regulations require

certain additional disclosures to

be included in registration statements relating to offerings of securities. Certain

of these additional

disclosures follow herein, and should be read in conjunction with the annual

report on Form 20-F for

the year ended 31 December 2024 of UBS AG, filed with the SEC on

March 17, 2025, as well as UBS

AG's first quarter 2025 report, submitted to the SEC on Form 6-K on May

8, 2025,

and UBS AG's

second quarter 2025

report, submitted to the SEC on Form 6-K on August 5, 2025.

Capitalization of UBS AG

The table

below presents

the consolidated

capitalization

of UBS

AG in

accordance

with IFRS

Accounting

Standards in US dollars, the presentation currency

of UBS AG.

As of

USD m

30.6.25

31.3.25

Debt:

Short-term debt issued

97,242

89,369

Long-term debt issued

237,634

233,298

of which: eligible as non-Basel III-compliant tier 2 capital

instruments

196

205

Total debt issued

334,876

322,666

of which: funding from UBS Group AG

119,119

117,014

Equity attributable to shareholders

94,278

96,553

Equity attributable to non-controlling interests

576

569

Total capitalization

429,730

419,789

1 Short-term debt issued

consists of debt

issued (reflected on

the balance sheet

lines Debt issued

measured at amortized

cost and Debt

issued designated at

fair value) by

UBS AG and

its

subsidiaries and funding from UBS

Group AG (measured at

amortized cost and designated

at fair value) with

a remaining contractual maturity

of less than one

year without considering any

early redemption features.

2 Long-term debt issued consists of

debt issued (reflected on the balance

sheet lines Debt issued measured at

amortized cost and Debt issued

designated at fair

value) by UBS AG and its subsidiaries and funding from UBS Group AG (measured

at amortized cost and designated at fair value) with a remaining contractual

maturity of more than one year

without considering any early redemption features.

3 As of 30 June 2025, 87% of the total debt issued was unsecured.

This Form

6-K is

hereby incorporated

by reference

into (1)

the registration

statement of

UBS AG

Form F-3 (Registration

Number 333-283672),

and into each

prospectus outstanding

under the foregoing

registration statement, (2)

any outstanding offering

circular or similar

document issued or

authorized by

UBS

that

incorporates

reference

any

Forms

6-K

UBS

that

are

incorporated

into

its

registration

statements

filed

with

the

SEC,

and

(3)

the

base

prospectus

Corporate

Asset

Backed

Corporation

(“CABCO”)

dated

June

23,

2004

(Registration

Number

333-111572),

the

Form

8-K

CABCO filed and

dated June 23, 2004

(SEC File Number 001-13444),

and the Prospectus Supplements

relating

the

CABCO Series

2004-101

Trust

dated May

10,

2004

and May

17, 2004

(Registration

Number 033-91744 and 033-91744-05).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the

registrant has duly

caused this report to be signed on its behalf by the undersigned,

thereunto duly authorized.

UBS AG

By: _/s/ David Kelly _____________

Name:

David Kelly

Title:

Managing Director

By: _/s/ Ella Copetti-Campi ______________

Name:

Ella Copetti-Campi

Title:

Executive Director

Date:

August 5, 2025

UBS AG 6-K