Bid
Ask
/product/detail/index/isin/CH0502948521
50294852S12NVU
Short Factor CertificateNovartis12x0.301307CHF1.921.97
/product/detail/index/isin/CH0512543478
51254347 
Long Factor CertificateAMS5x0.301754CHF2.622.67
/product/detail/index/isin/CH0502940221
50294022 
Long Factor CertificateThe Swatch Grp Bearer12x0.302414CHF7.828.02
/product/detail/index/isin/CH0496909109
49690910L12AIU
Long Factor Certificateadidas12x0.304213CHF9.099.19
/product/detail/index/isin/CH0462168821
46216882 
Short Factor CertificateBMW5x0.304795CHF4.594.62
/product/detail/index/isin/CH0512543437
51254343L5AMSU
Long Factor CertificateAMS5x0.305044CHF2.652.70
/product/detail/index/isin/CH0513446234
51344623 
Long Factor CertificateSiemens12x0.30541CHF3.483.49
/product/detail/index/isin/CH0449360574
44936057 
Short Factor CertificateABB5x0.306977CHF1.361.365
/product/detail/index/isin/CH0449360368
44936036FS5ABU
Short Factor CertificateABB5x0.306977CHF1.3621.367
/product/detail/index/isin/CH0489600095
48960009 
Long Factor CertificateMicrosoft5x0.308795CHF10.2210.37
/product/detail/index/isin/CH0493871252
49387125 
Short Factor CertificateBarrick Gold10x0.308986CHF0.500.53
/product/detail/index/isin/CH0507820188
50782018 
Short Factor CertificateTwitter Inc.5x0.309772CHF2.122.21
/product/detail/index/isin/CH0520486827
52048682 
Short Factor CertificateWirecard AG10x0.309812CHF5.345.39
/product/detail/index/isin/CH0486384842
48638484L5NOXU
Long Factor CertificateNovartis5x0.310555CHF6.036.08
/product/detail/index/isin/CH0466047336
46604733S8DAIU
Short Factor CertificateDaimler8x0.316181CHF1.962.01
/product/detail/index/isin/CH0466050132
46605013 
Short Factor CertificateDaimler8x0.316202CHF1.972.00
/product/detail/index/isin/CH0496880094
49688009S12LNU
Short Factor CertificateLafargeHolcim12x0.316391CHF1.131.23
/product/detail/index/isin/CH0513453545
51345354L12SIU
Long Factor CertificateSiemens12x0.320528CHF3.653.66
/product/detail/index/isin/CH0462555860
46255586 
Long Factor CertificateAdecco12x0.324295CHF1.5081.558
/product/detail/index/isin/CH0519079765
51907976S10WWU
Short Factor CertificateWirecard AG10x0.324467CHF5.545.69
  • 10 per page
  • 20 per page
  • 50 per page
  • 100 per page

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.