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/product/detail/index/isin/CH0462171833
46217183FS5AMU
Short Factor CertificateAmazon.com5x0.002941CHF1.251.26
/product/detail/index/isin/CH0462171890
46217189FS5NFU
Short Factor CertificateNetflix5x0.009191CHF0.680.69
/product/detail/index/isin/CH0462171874
46217187FS5FBU
Short Factor CertificateFacebook5x0.047663CHF1.871.88
/product/detail/index/isin/CH0462171866
46217186FS5APU
Short Factor CertificateApple5x0.002039CHF0.14--
/product/detail/index/isin/CH0462171841
46217184FS5BAU
Short Factor CertificateAlibaba5x0.021508CHF0.930.94
/product/detail/index/isin/CH0462181196
46218119FS5BMU
Short Factor CertificateBMW5x0.856352CHF8.228.27
/product/detail/index/isin/CH0462181170
46218117FS5VWU
Short Factor CertificateVolkswagen VZ5x0.059837CHF1.381.39
/product/detail/index/isin/CH0462175669
46217566FL5VWU
Long Factor CertificateVolkswagen VZ5x0.008106CHF0.230.24
/product/detail/index/isin/CH0462181204
46218120FS5DTU
Short Factor CertificateDeutsche Telekom5x2.922474CHF7.447.59
/product/detail/index/isin/CH0462181220
46218122FS5BYU
Short Factor CertificateBayer5x0.319124CHF3.503.53
/product/detail/index/isin/CH0462175651
46217565FL5DBU
Long Factor CertificateDeutsche Bank5x0.045968CHF0.10--
/product/detail/index/isin/CH0462181089
46218108FL5BYU
Long Factor CertificateBayer5x0.042578CHF0.490.50
/product/detail/index/isin/CH0462171932
46217193FS5INU
Short Factor CertificateIntel5x0.0069CHF0.110.12
/product/detail/index/isin/CH0462171924
46217192FS5GOU
Short Factor CertificateAlphabet Inc. C5x0.006338CHF1.721.73
/product/detail/index/isin/CH0528352062
52835206L5LHAU
Long Factor CertificateDeutsche Lufthansa5x0.223729CHF0.41--
/product/detail/index/isin/CH0526132193
52613219S5TTAU
Short Factor CertificateTesla Inc5x0.006803CHF0.860.87
/product/detail/index/isin/CH0521952033
52195203L5ZURU
Long Factor CertificateZurich Insurance5x0.006062CHF0.400.41
/product/detail/index/isin/CH0505520392
50552039 
Short Factor CertificateApple5x0.010027CHF0.590.60
/product/detail/index/isin/CH0486380212
48638021 
Long Factor CertificateNovartis5x0.098907CHF1.4961.556
/product/detail/index/isin/CH0486380147
48638014 
Long Factor CertificateLafargeHolcim5x0.019657CHF0.110.17
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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.