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/product/detail/index/isin/CH0548317418
54831741 
Long Factor CertificateContinental15x1.38316CHF16.5816.73
/product/detail/index/isin/CH0462175347
46217534FS15NU
Short Factor CertificateNASDAQ 100 Index15x0.00CHF0.05--
/product/detail/index/isin/CH0548313177
54831317 
Short Factor CertificateSilver oz./USD15x1.200707CHF1.231.25
/product/detail/index/isin/CH0548313144
54831314S15SLU
Short Factor CertificateSilver oz./USD15x1.199469CHF1.221.27
/product/detail/index/isin/CH0545779016
54577901L15SMU
Long Factor CertificateSiemens15x3.11222CHF32.4532.95
/product/detail/index/isin/CH0548696019
54869601S15S5U
Short Factor CertificateS&P 500 Index15x0.014219CHF2.482.68
/product/detail/index/isin/CH0548696027
54869602L15CTU
Long Factor CertificateContinental15x1.210085CHF14.3214.82
/product/detail/index/isin/CH0548709663
54870966 
Long Factor CertificatePorsche15x1.220583CHF7.697.99
/product/detail/index/isin/CH0548708541
54870854L15ASU
Long Factor Certificateadidas15x0.487633CHF9.349.49
/product/detail/index/isin/CH0548709630
54870963 
Long Factor CertificateDeutsche Bank15x9.403997CHF9.079.27
/product/detail/index/isin/CH0548709648
54870964 
Long Factor CertificateDaimler15x1.264184CHF7.317.46
/product/detail/index/isin/CH0548709622
54870962 
Long Factor CertificateCommerzbank15x9.437331CHF4.815.01
/product/detail/index/isin/CH0548708582
54870858L15SNU
Long Factor CertificateSiemens15x0.796976CHF8.308.45
/product/detail/index/isin/CH0548709671
54870967 
Long Factor CertificateSiemens15x0.807704CHF8.428.57
/product/detail/index/isin/CH0548708566
54870856L15PSU
Long Factor CertificatePorsche15x1.193332CHF7.517.81
/product/detail/index/isin/CH0548918389
54891838 
Long Factor Certificateadidas15x0.366184CHF7.007.10
/product/detail/index/isin/CH0548918397
54891839 
Long Factor CertificateContinental15x0.289399CHF3.473.50
/product/detail/index/isin/CH0548905113
54890511S15DOU
Short Factor CertificateDow Jones Industrial Average Index15x0.002062CHF2.953.25
/product/detail/index/isin/CH0546343093
54634309 
Short Factor CertificateSMI PR Index15x0.006843CHF3.723.75
/product/detail/index/isin/CH0548905162
54890516L15DAU
Long Factor CertificateDaimler15x0.755066CHF4.364.46
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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.