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/product/detail/index/isin/CH0462177426
46217742 
Short Factor CertificateDAX8x0.000031CHF0.06--
/product/detail/index/isin/CH0462175305
46217530FS6NAU
Short Factor CertificateNASDAQ 100 Index6x0.000034CHF0.06--
/product/detail/index/isin/CH0449366399
44936639OBKXTU
Short Factor CertificateSMI PR Index8x0.00006CHF0.070.08
/product/detail/index/isin/CH0539276169
53927616 
Short Factor CertificateNASDAQ 100 Index12x0.000062CHF0.050.06
/product/detail/index/isin/CH0537669050
53766905 
Short Factor CertificateDow Jones Industrial Average Index8x0.000063CHF0.190.20
/product/detail/index/isin/CH0489590601
48959060 
Long Factor CertificateDow Jones Industrial Average Index6x0.000072CHF0.2970.298
/product/detail/index/isin/CH0539281185
53928118S12DWU
Short Factor CertificateDow Jones Industrial Average Index12x0.000073CHF0.150.16
/product/detail/index/isin/CH0540336234
54033623 
Short Factor CertificateNASDAQ 100 Index15x0.00008CHF0.050.06
/product/detail/index/isin/CH0462175420
46217542FS6DJU
Short Factor CertificateDow Jones Industrial Average Index6x0.000083CHF0.35--
/product/detail/index/isin/CH0528793489
52879348L15MIU
Long Factor CertificateSMI PR Index15x0.000084CHF0.050.06
/product/detail/index/isin/CH0489594082
48959408 
Long Factor CertificateDAX8x0.00009CHF0.1650.166
/product/detail/index/isin/CH0518174005
51817400 
Long Factor CertificateSMI PR Index10x0.000095CHF0.080.12
/product/detail/index/isin/CH0548317442
54831744 
Short Factor CertificateDAX15x0.000112CHF0.090.10
/product/detail/index/isin/CH0523562681
52356268 
Long Factor CertificateTesla Inc5x0.000113CHF0.02--
/product/detail/index/isin/CH0543606377
54360637 
Short Factor CertificateDow Jones Industrial Average Index15x0.000126CHF0.210.22
/product/detail/index/isin/CH0537668011
53766801S10S5U
Short Factor CertificateS&P 500 Index10x0.000146CHF0.040.05
/product/detail/index/isin/CH0522362240
52236224 
Short Factor CertificateApple8x0.000146CHF0.001--
/product/detail/index/isin/CH0527067406
52706740 
Long Factor CertificateSMI PR Index12x0.000172CHF0.130.17
/product/detail/index/isin/CH0527063850
52706385L12SZU
Long Factor CertificateSMI PR Index12x0.00018CHF0.150.16
/product/detail/index/isin/CH0521952025
52195202L12RGU
Long Factor CertificateRoche12x0.000183CHF0.01--
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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.