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/product/detail/index/isin/CH0516949234
51694923 
Long Factor CertificateDeutsche Lufthansa12x0.00CHF0.001--
/product/detail/index/isin/CH0480738746
48073874S5TESU
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0462175347
46217534FS15NU
Short Factor CertificateNASDAQ 100 Index15x0.00CHF0.05--
/product/detail/index/isin/CH0466042519
46604251FS12JU
Short Factor CertificateApple12x0.00CHF0.001--
/product/detail/index/isin/CH0493884644
49388464 
Short Factor CertificateDeutsche Bank10x0.00CHF0.001--
/product/detail/index/isin/CH0507032610
50703261 
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0507035100
50703510S5TLAU
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0515820139
51582013 
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0535918053
53591805 
Short Factor CertificateDow Jones Industrial Average Index15x0.00CHF0.001--
/product/detail/index/isin/CH0515825443
51582544S5TSLU
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0520486876
52048687 
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0519079831
51907983S5TSAU
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0521412186
52141218 
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0537669084
53766908 
Short Factor CertificateDow Jones Industrial Average Index15x0.00CHF0.001--
/product/detail/index/isin/CH0497804424
49780442S10ILU
Short Factor CertificateIntel10x0.00CHF0.001--
/product/detail/index/isin/CH0489590627
48959062 
Long Factor CertificateDow Jones Industrial Average Index10x0.00CHF0.01--
/product/detail/index/isin/CH0489597275
48959727S12VIU
Short Factor CertificateVisa12x0.00CHF0.001--
/product/detail/index/isin/CH0462175396
46217539FS12SU
Short Factor CertificateS&P 500 Index12x0.000001CHF0.001--
/product/detail/index/isin/CH0493282112
49328211L12BWU
Long Factor CertificateBMW12x0.000001CHF0.001--
/product/detail/index/isin/CH0537667898
53766789S15GDU
Short Factor CertificateDAX15x0.000001CHF0.001--
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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.