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/product/detail/index/isin/CH0462170769
46217076 
Long Factor CertificateNVIDIA Corp5x0.469283CHF19.6119.81
/product/detail/index/isin/CH0462171692
46217169FL5INU
Long Factor CertificateIntel5x0.953663CHF10.7510.95
/product/detail/index/isin/CH0462181089
46218108FL5BYU
Long Factor CertificateBayer5x0.369523CHF5.545.59
/product/detail/index/isin/CH0462164911
46216491 
Long Factor CertificateAlphabet Inc. C5x0.047157CHF12.5612.66
/product/detail/index/isin/CH0466044390
46604439 
Long Factor CertificateContinental5x0.072735CHF1.871.90
/product/detail/index/isin/CH0466044465
46604446 
Long Factor CertificateBASF5x0.525185CHF7.837.98
/product/detail/index/isin/CH0462168854
46216885 
Short Factor CertificateBayer5x0.116938CHF1.751.78
/product/detail/index/isin/CH0449360517
44936051 
Short Factor CertificateLogitech5x0.090267CHF0.7780.798
/product/detail/index/isin/CH0462168805
46216880 
Short Factor CertificateVolkswagen VZ5x0.042419CHF1.641.67
/product/detail/index/isin/CH0449360558
44936055 
Short Factor CertificateSwiss Re5x0.083339CHF1.8051.825
/product/detail/index/isin/CH0449360368
44936036FS5ABU
Short Factor CertificateABB5x0.388462CHF1.7441.754
/product/detail/index/isin/CH0462171080
46217108 
Short Factor CertificateAlibaba5x0.034823CHF1.441.45
/product/detail/index/isin/CH0462168813
46216881 
Short Factor CertificateCommerzbank5x2.317949CHF2.692.70
/product/detail/index/isin/CH0462171148
46217114 
Short Factor CertificateBarrick Gold5x0.24335CHF0.850.86
/product/detail/index/isin/CH0462171072
46217107 
Short Factor CertificateAmazon.com5x0.012497CHF4.394.42
/product/detail/index/isin/CH0449360574
44936057 
Short Factor CertificateABB5x0.388462CHF1.7391.759
/product/detail/index/isin/CH0462171890
46217189FS5NFU
Short Factor CertificateNetflix5x0.094129CHF5.986.08
/product/detail/index/isin/CH0462171874
46217187FS5FBU
Short Factor CertificateFacebook5x0.050104CHF2.032.04
/product/detail/index/isin/CH0449360590
44936059 
Short Factor CertificateLafargeHolcim5x0.136349CHF1.381.44
/product/detail/index/isin/CH0449366738
44936673 
Short Factor CertificateCredit Suisse5x0.499813CHF1.291.31
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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.