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/product/detail/index/isin/CH0489590981
48959098 
Long Factor CertificateAmazon.com8x0.007103CHF1.591.60
/product/detail/index/isin/CH0489600103
48960010 
Long Factor CertificateMicrosoft8x0.602866CHF11.6711.77
/product/detail/index/isin/CH0496921625
49692162L8MCDU
Long Factor CertificateMcDonald's8x0.105591CHF2.802.85
/product/detail/index/isin/CH0497183886
49718388 
Long Factor CertificateMcDonald's8x0.099182CHF2.542.59
/product/detail/index/isin/CH0486384610
48638461 
Long Factor CertificateSwiss Life8x0.066732CHF4.084.18
/product/detail/index/isin/CH0493876178
49387617L8TSLU
Long Factor CertificateTesla Inc8x3.454127CHF247.00--
/product/detail/index/isin/CH0493876145
49387614L8AMXU
Long Factor CertificateAMD8x3.895581CHF26.16--
/product/detail/index/isin/CH0500221541
50022154 
Long Factor CertificateNetflix8x0.506583CHF14.4814.68
/product/detail/index/isin/CH0503311646
50331164L8CBKU
Long Factor CertificateCommerzbank8x4.129014CHF2.642.84
/product/detail/index/isin/CH0500221525
50022152 
Long Factor CertificateBaidu Inc8x1.374138CHF19.5220.02
/product/detail/index/isin/CH0515358221
51535822 
Long Factor CertificateWirecard AG8x1.185136CHF19.3320.23
/product/detail/index/isin/CH0505529716
50552971L8WDIU
Long Factor CertificateWirecard AG8x0.150746CHF2.512.61
/product/detail/index/isin/CH0509135122
50913512L8VOWU
Long Factor CertificateVolkswagen VZ8x0.140247CHF3.303.33
/product/detail/index/isin/CH0449359790
44935979DJIHJU
Short Factor CertificateUBS Group AG8x0.451267CHF0.690.70
/product/detail/index/isin/CH0513462850
51346285 
Long Factor CertificateAmazon.com8x0.036627CHF8.228.27
/product/detail/index/isin/CH0449366837
44936683 
Short Factor CertificateRoche8x0.006245CHF0.2550.259
/product/detail/index/isin/CH0462172013
46217201FS8NFU
Short Factor CertificateNetflix8x0.011015CHF0.390.41
/product/detail/index/isin/CH0466047336
46604733S8DAIU
Short Factor CertificateDaimler8x0.412712CHF2.542.59
/product/detail/index/isin/CH0469522228
46952222S8NOVU
Short Factor CertificateNovartis8x0.144307CHF1.681.70
/product/detail/index/isin/CH0465052626
46505262 
Short Factor CertificateLafargeHolcim8x0.26903CHF1.691.79
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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.