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/product/detail/index/isin/CH0462171114
46217111 
Short Factor CertificateFacebook5x0.044864CHF1.841.87
/product/detail/index/isin/CH0462167468
46216746 
Long Factor CertificateDeutsche Bank5x1.012558CHF1.531.54
/product/detail/index/isin/CH0462168797
46216879 
Short Factor CertificateDeutsche Bank5x2.667693CHF3.613.62
/product/detail/index/isin/CH0462167476
46216747 
Long Factor CertificateVolkswagen VZ5x0.404128CHF15.6415.79
/product/detail/index/isin/CH0508410401
50841040S5AAMU
Short Factor CertificateAMD5x0.376841CHF2.983.04
/product/detail/index/isin/CH0508410732
50841073 
Long Factor CertificateVolkswagen VZ5x0.117568CHF4.564.59
/product/detail/index/isin/CH0508410575
50841057 
Short Factor CertificateAMD5x0.378997CHF2.983.07
/product/detail/index/isin/CH0506642781
50664278 
Short Factor CertificateLogitech5x0.471786CHF4.084.13
/product/detail/index/isin/CH0506642773
50664277 
Short Factor CertificateAdecco5x0.332499CHF4.164.21
/product/detail/index/isin/CH0506636130
50663613S5ADEU
Short Factor CertificateAdecco5x0.33016CHF4.134.18
/product/detail/index/isin/CH0507035100
50703510S5TLAU
Short Factor CertificateTesla Inc5x0.030265CHF1.961.98
/product/detail/index/isin/CH0506636148
50663614S5LOGU
Short Factor CertificateLogitech5x0.467548CHF4.044.09
/product/detail/index/isin/CH0509131816
50913181S5TWTU
Short Factor CertificateTwitter Inc.5x0.676465CHF3.894.19
/product/detail/index/isin/CH0511312016
51131201 
Long Factor CertificateApple5x0.095558CHF5.105.16
/product/detail/index/isin/CH0510109991
51010999 
Long Factor CertificateABB5x1.240184CHF5.6715.691
/product/detail/index/isin/CH0510971408
51097140L5SISU
Long Factor CertificateSiemens5x0.213635CHF5.495.51
/product/detail/index/isin/CH0493282096
49328209S5ZAOU
Short Factor CertificateZalando5x0.351297CHF3.143.19
/product/detail/index/isin/CH0489597424
48959742L5FABU
Long Factor CertificateFacebook5x0.095864CHF3.773.79
/product/detail/index/isin/CH0489590379
48959037 
Long Factor Certificateadidas5x0.061986CHF3.623.64
/product/detail/index/isin/CH0512541837
51254183L5ABBU
Long Factor CertificateABB5x1.236392CHF5.655.67
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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.