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/product/detail/index/isin/CH0545778984
54577898L15SAU
Long Factor CertificateSAP SE15x1.365284CHF12.6012.90
/product/detail/index/isin/CH0545779693
54577969 
Long Factor CertificateSiemens15x3.037129CHF32.4932.99
/product/detail/index/isin/CH0546382422
54638242 
Long Factor CertificateDaimler15x4.868038CHF27.4427.94
/product/detail/index/isin/CH0546375616
54637561L15DXU
Long Factor CertificateDAX15x0.019951CHF24.5225.02
/product/detail/index/isin/CH0546382455
54638245 
Long Factor CertificateVolkswagen VZ15x1.38095CHF23.7224.22
/product/detail/index/isin/CH0546381739
54638173L15VOU
Long Factor CertificateVolkswagen VZ15x1.112961CHF19.2219.42
/product/detail/index/isin/CH0546375640
54637564L15CNU
Long Factor CertificateContinental15x3.956296CHF46.0548.05
/product/detail/index/isin/CH0546382406
54638240 
Long Factor CertificateContinental15x4.6987CHF55.6356.13
/product/detail/index/isin/CH0546382448
54638244 
Long Factor CertificatePorsche15x5.456624CHF33.8334.83
/product/detail/index/isin/CH0546381689
54638168L15DKU
Long Factor CertificateDeutsche Bank15x47.540972CHF44.4547.45
/product/detail/index/isin/CH0546381697
54638169L15DMU
Long Factor CertificateDaimler15x3.373399CHF18.9419.44
/product/detail/index/isin/CH0546375624
54637562L15CKU
Long Factor CertificateCommerzbank15x31.864681CHF15.0817.08
/product/detail/index/isin/CH0546381713
54638171L15POU
Long Factor CertificatePorsche15x4.237249CHF26.1627.16
/product/detail/index/isin/CH0546382414
54638241 
Long Factor CertificateDeutsche Bank15x65.393141CHF62.7263.72
/product/detail/index/isin/CH0546382380
54638238 
Long Factor CertificateCommerzbank15x44.695972CHF22.0623.06
/product/detail/index/isin/CH0546385813
54638581 
Long Factor CertificateBMW15x6.996748CHF49.1849.68
/product/detail/index/isin/CH0547305661
54730566 
Long Factor CertificateSilver oz./USD15x13.205804CHF16.7517.05
/product/detail/index/isin/CH0547305588
54730558L15SVU
Long Factor CertificateSilver oz./USD15x13.205804CHF16.6517.15
/product/detail/index/isin/CH0548317442
54831744 
Short Factor CertificateDAX15x0.001982CHF0.810.82
/product/detail/index/isin/CH0548317228
54831722S15XDU
Short Factor CertificateDAX15x0.002121CHF0.850.90
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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.