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: March 9, 2026

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

accordance with IFRS Accounting

Standards. SEC regulations require certain

additional disclosures to

included

registration

statements

relating

offerings

securities.

Certain

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 2025 of UBS AG, filed with the SEC on March 9, 2026.

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

31.12.25

30.9.25

Debt:

Short-term debt issued

92,101

85,213

Long-term debt issued

233,368

244,024

Total debt issued

325,469

329,237

of which: funding from UBS Group AG

117,717

124,317

Equity attributable to shareholders

88,845

95,135

Equity attributable to non-controlling interests

334

459

Total capitalization

414,648

424,831

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 31 December 2025, 87% of the total debt issued was unsecured.

This

Form

6-K

hereby

incorporated

reference

into

(1)

the

registration

statements

Form

F-3

(Registration Numbers

333-283672 and

333-293403), and

into each

prospectus outstanding

under the

foregoing registration

statements, (2)

any outstanding

offering

circular or

UBS AG 6-K