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/product/detail/index/isin/CH0489600152
48960015 
Long Factor CertificateVisa5x0.121338CHF4.194.49
/product/detail/index/isin/CH0462171601
46217160FL5BAU
Long Factor CertificateAlibaba5x0.271453CHF10.4810.78
/product/detail/index/isin/CH0462171684
46217168FL5GOU
Long Factor CertificateAlphabet Inc. C5x0.047157CHF12.3312.43
/product/detail/index/isin/CH0462171650
46217165FL5NFU
Long Factor CertificateNetflix5x0.028641CHF1.741.80
/product/detail/index/isin/CH0513453537
51345353S5ADSU
Short Factor Certificateadidas5x0.079595CHF5.145.16
/product/detail/index/isin/CH0513453552
51345355S5SIMU
Short Factor CertificateSiemens5x0.202016CHF5.135.15
/product/detail/index/isin/CH0512543478
51254347 
Long Factor CertificateAMS5x0.538272CHF0.005.33
/product/detail/index/isin/CH0512543494
51254349 
Short Factor CertificateAMS5x0.493384CHF0.004.76
/product/detail/index/isin/CH0512543452
51254345S5AMSU
Short Factor CertificateAMS5x0.487222CHF6.006.10
/product/detail/index/isin/CH0512543437
51254343L5AMSU
Long Factor CertificateAMS5x0.544142CHF3.733.83
/product/detail/index/isin/CH0486380246
48638024 
Long Factor CertificateRoche5x0.153159CHF9.1569.206
/product/detail/index/isin/CH0489597523
48959752L5TESU
Long Factor CertificateTesla Inc5x0.118775CHF7.908.00
/product/detail/index/isin/CH0489597325
48959732L5AMZU
Long Factor CertificateAmazon.com5x0.006022CHF2.062.08
/product/detail/index/isin/CH0489597333
48959733L5AMDU
Long Factor CertificateAMD5x0.64528CHF4.935.03
/product/detail/index/isin/CH0489597382
48959738L5BIDU
Long Factor CertificateBaidu Inc5x0.117717CHF2.652.75
/product/detail/index/isin/CH0489589934
48958993L5SAXU
Long Factor CertificateSAP SE5x0.140281CHF3.653.68
/product/detail/index/isin/CH0489593795
48959379L5ZAOU
Long Factor CertificateZalando5x0.260172CHF2.332.38
/product/detail/index/isin/CH0489593902
48959390S5WIDU
Short Factor CertificateWirecard AG5x0.249687CHF6.967.11
/product/detail/index/isin/CH0489593860
48959386S5COLU
Short Factor CertificateContinental5x0.096203CHF2.422.47
/product/detail/index/isin/CH0449366779
44936677 
Short Factor CertificateZurich Insurance5x0.01458CHF1.1521.162
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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.