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/product/detail/index/isin/CH0538070969
53807096 
Long Factor CertificateDow Jones Industrial Average Index15x0.008955CHF19.2319.38
/product/detail/index/isin/CH0545122621
54512262S15NQU
Short Factor CertificateNASDAQ 100 Index15x0.004841CHF3.543.84
/product/detail/index/isin/CH0545122738
54512273 
Short Factor CertificateNASDAQ 100 Index15x0.004838CHF2.692.71
/product/detail/index/isin/CH0545773027
54577302 
Long Factor CertificateBMW15x1.592769CHF7.017.46
/product/detail/index/isin/CH0545772987
54577298 
Long Factor CertificateBayer15x1.22786CHF5.435.88
/product/detail/index/isin/CH0545779735
54577973 
Long Factor CertificateVolkswagen VZ15x0.367625CHF4.184.48
/product/detail/index/isin/CH0545771856
54577185 
Long Factor CertificateSilver oz./USD15x13.211632CHF14.52914.829
/product/detail/index/isin/CH0545771880
54577188 
Long Factor CertificateGold15x0.04947CHF4.855.35
/product/detail/index/isin/CH0545771906
54577190 
Short Factor CertificateGold15x0.035899CHF4.034.33
/product/detail/index/isin/CH0545772920
54577292 
Long Factor Certificateadidas15x1.381445CHF23.2224.72
/product/detail/index/isin/CH0545772946
54577294 
Long Factor CertificateBASF15x3.027256CHF10.9211.82
/product/detail/index/isin/CH0545779651
54577965 
Long Factor CertificateSAP SE15x1.027664CHF7.828.42
/product/detail/index/isin/CH0545778752
54577875L15ADU
Long Factor Certificateadidas15x1.50109CHF24.7225.02
/product/detail/index/isin/CH0545778919
54577891L15DTU
Long Factor CertificateDeutsche Telekom15x6.689769CHF6.186.48
/product/detail/index/isin/CH0545773183
54577318 
Long Factor CertificateDeutsche Telekom15x6.361539CHF6.246.84
/product/detail/index/isin/CH0545778786
54577878L15BYU
Long Factor CertificateBayer15x1.357452CHF5.545.69
/product/detail/index/isin/CH0545779040
54577904L15VWU
Long Factor CertificateVolkswagen VZ15x0.39024CHF3.933.98
/product/detail/index/isin/CH0545778802
54577880L15BWU
Long Factor CertificateBMW15x1.931457CHF7.247.34
/product/detail/index/isin/CH0545772086
54577208L15XGU
Long Factor CertificateSilver oz./USD15x13.219744CHF11.8612.36
/product/detail/index/isin/CH0545772060
54577206L15XUU
Long Factor CertificateGold15x0.0495CHF4.065.06
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UBS Factor Certificates

UBS Factor Certificates enable investors who are willing to take risks to participate disproportionately in the price performance of an underlying asset (e.g. equities, indices, commodities or currency pairs). The Long Factor Certificate targets rising prices, while the Short Factor Certificate converts falling prices into gains. Unlike other leverage products, such as warrants or mini-futures, the leverage factor remains constant. For example, a factor certificate (10x long) mirrors the daily performance of the underlying asset with a constant leverage of 10. This manner of functioning makes it possible to adjust the strike price and conversion ratio on a daily basis.

Of course, the product loses value disproportionately if the underlying asset moves in an adverse direction. As soon as the price of the underlying asset reaches the strike price or falls short of it (Long Factor Certificate) or exceeds it (Short Factor Certificate), a knock-out event occurs. In this case, the product expires without value with immediate effect and the holder suffers a total loss. However, there is no obligation to make margin calls, as is usual in forward transactions, for example.

In order to reduce the risk of loss in highly volatile market phases, the Factor Certificate includes a reset mechanism. This can be used in the event of strong price fluctuations in the course of a trading day (intraday). The crucial aspect is the reset barrier. It lies above the strike price in the case of the Long Factor Certificate, while it is positioned below the strike price for the short variant. If the underlying asset touches or breaches this reset barrier, the strike price is adjusted: downwards for a Long Factor Certificate or upwards in the case of a Short Factor Certificate. The conversion ratio is recalculated at the same time. In this way, a new trading day begins in simulation, in which the Factor Certificate starts with a likewise lower barrier (long) or higher barrier (short). However, this does not avert the risk of a knock-out.

Unlike warrants, volatility has hardly any impact on the performance of Factor Certificates. A further distinguishing feature is the unlimited duration.

The fact that the leverage effect of the Factor Certificate applies on a daily basis results in path dependency. If the underlying asset of a Long Factor Certificate trends upward or that of a Short Factor Certificate trends downward, the investor can benefit disproportionately and obtain higher returns, depending on the selected leverage. If, on the other hand, the underlying asset moves in a sideways market, investors are at risk of incurring losses. This is especially the case if the underlying asset floats around its starting price for a relatively long period of time.

Investors must also take the issuer risk into consideration, since loss of the invested capital could occur if UBS AG becomes insolvent, regardless of the performance of the underlying asset and other market parameters.