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/product/detail/index/isin/CH0519079773
51907977S8ZAOU
Short Factor CertificateZalando8x0.29849CHF1.33--
/product/detail/index/isin/CH0508410344
50841034S12BWU
Short Factor CertificateBMW12x0.30012CHF----
/product/detail/index/isin/CH0509135106
50913510S8SAPU
Short Factor CertificateSAP SE8x0.303082CHF4.14--
/product/detail/index/isin/CH0462168854
46216885 
Short Factor CertificateBayer5x0.304939CHF3.353.50
/product/detail/index/isin/CH0531804935
53180493L12N9U
Long Factor CertificateLonza12x0.307083CHF10.3010.50
/product/detail/index/isin/CH0533638752
53363875 
Long Factor CertificateZurich Insurance8x0.310364CHF12.3014.32
/product/detail/index/isin/CH0497183654
49718365 
Short Factor CertificateTwitter Inc.5x0.31327CHF1.891.92
/product/detail/index/isin/CH0462181220
46218122FS5BYU
Short Factor CertificateBayer5x0.319124CHF3.503.53
/product/detail/index/isin/CH0527063629
52706362L8AXBU
Long Factor CertificateABB8x0.322397CHF0.650.66
/product/detail/index/isin/CH0535925025
53592502 
Long Factor CertificateNVIDIA Corp5x0.322505CHF14.2014.35
/product/detail/index/isin/CH0486384776
48638477L5LXGU
Long Factor CertificateLogitech5x0.323748CHF2.622.67
/product/detail/index/isin/CH0469522210
46952221S5NOVU
Short Factor CertificateNovartis5x0.327838CHF4.985.03
/product/detail/index/isin/CH0449366548
44936654 
Long Factor CertificateUBS Group AG5x0.332443CHF0.5870.647
/product/detail/index/isin/CH0449359972
44935997OCBNHU
Long Factor CertificateUBS Group AG5x0.332443CHF0.610.62
/product/detail/index/isin/CH0535727074
53572707L5MCOU
Long Factor CertificateMcDonald's5x0.333332CHF9.719.86
/product/detail/index/isin/CH0486380162
48638016 
Long Factor CertificateLogitech5x0.335497CHF2.632.85
/product/detail/index/isin/CH0537275817
53727581 
Long Factor CertificateTemenos8x0.341556CHF5.305.92
/product/detail/index/isin/CH0518348401
51834840S10BIU
Short Factor CertificateBaidu Inc10x0.345333CHF4.37--
/product/detail/index/isin/CH0509128630
50912863 
Short Factor CertificateDeutsche Lufthansa8x0.348009CHF0.21--
/product/detail/index/isin/CH0531810544
53181054L10Z9U
Long Factor CertificateZurich Insurance10x0.349458CHF11.7812.08
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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.