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/product/detail/index/isin/CH0502947309
50294730 
Short Factor CertificateZurich Insurance6x0.062636CHF4.034.08
/product/detail/index/isin/CH0489594074
48959407 
Long Factor CertificateDAX6x0.002645CHF6.3296.331
/product/detail/index/isin/CH0512541902
51254190L6SSMU
Long Factor CertificateSMI PR Index6x0.002743CHF4.794.80
/product/detail/index/isin/CH0496880037
49688003 
Short Factor CertificateCredit Suisse6x1.712713CHF3.553.58
/product/detail/index/isin/CH0489586799
48958679L6NASU
Long Factor CertificateNASDAQ 100 Index6x0.004127CHF5.685.69
/product/detail/index/isin/CH0449366787
44936678 
Short Factor CertificateZurich Insurance6x0.01066CHF0.6850.695
/product/detail/index/isin/CH0489586732
48958673L6DJIU
Long Factor CertificateDow Jones Industrial Average Index6x0.001162CHF5.365.38
/product/detail/index/isin/CH0449359857
44935985BJIWQU
Short Factor CertificateZurich Insurance5x0.01458CHF1.131.14
/product/detail/index/isin/CH0449359899
44935989OJIUUU
Short Factor CertificateRoche5x0.03118CHF1.921.93
/product/detail/index/isin/CH0449359774
44935977UCFJIU
Short Factor CertificateUBS Group AG5x1.545707CHF3.593.62
/product/detail/index/isin/CH0449359972
44935997OCBNHU
Long Factor CertificateUBS Group AG5x3.059018CHF7.467.51
/product/detail/index/isin/CH0449366886
44936688FL5LGU
Long Factor CertificateLogitech5x2.17465CHF18.4418.74
/product/detail/index/isin/CH0462171643
46217164FL5NVU
Long Factor CertificateNVIDIA Corp5x0.406011CHF16.5716.97
/product/detail/index/isin/CH0449366506
44936650 
Long Factor CertificateThe Swatch Grp Bearer5x0.094019CHF5.195.29
/product/detail/index/isin/CH0462170777
46217077 
Long Factor CertificateNetflix5x0.033545CHF2.062.12
/product/detail/index/isin/CH0462168649
46216864 
Long Factor CertificateBayer5x0.386288CHF5.735.78
/product/detail/index/isin/CH0462175677
46217567FL5CBU
Long Factor CertificateCommerzbank5x0.995098CHF1.181.23
/product/detail/index/isin/CH0462175685
46217568FL5BMU
Long Factor CertificateBMW5x0.507403CHF8.198.24
/product/detail/index/isin/CH0449360327
44936032FS5LOU
Short Factor CertificateLonza5x0.027293CHF1.871.89
/product/detail/index/isin/CH0449360053
44936005 
Short Factor CertificateUBS Group AG5x1.545707CHF3.5893.619
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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.