Bid
Ask
/product/detail/index/isin/CH0528793539
52879353S8A11U
Short Factor CertificateAMS8x336.146654CHF111.07--
/product/detail/index/isin/CH0527063611
52706361S5AMMU
Short Factor CertificateAMS5x51.488441CHF71.84--
/product/detail/index/isin/CH0525715642
52571564 
Short Factor CertificateEUR/USD8x34.989319CHF4.624.63
/product/detail/index/isin/CH0525708969
52570896S8EUSU
Short Factor CertificateEUR/USD8x34.989319CHF4.62--
/product/detail/index/isin/CH0525715675
52571567 
Long Factor CertificateEUR/USD8x33.03662CHF4.374.38
/product/detail/index/isin/CH0525708936
52570893L8EUSU
Long Factor CertificateEUR/USD8x33.03662CHF4.43--
/product/detail/index/isin/CH0525715634
52571563 
Short Factor CertificateEUR/USD6x27.197217CHF4.794.80
/product/detail/index/isin/CH0525708951
52570895S6EUSU
Short Factor CertificateEUR/USD6x27.197217CHF4.80--
/product/detail/index/isin/CH0525715667
52571566 
Long Factor CertificateEUR/USD6x26.140263CHF4.614.62
/product/detail/index/isin/CH0525708928
52570892L6EUSU
Long Factor CertificateEUR/USD6x26.140263CHF4.67--
/product/detail/index/isin/CH0525715626
52571562 
Short Factor CertificateEUR/USD4x18.644838CHF4.934.94
/product/detail/index/isin/CH0525708944
52570894S4EUSU
Short Factor CertificateEUR/USD4x18.644838CHF4.94--
/product/detail/index/isin/CH0525715659
52571565 
Long Factor CertificateEUR/USD4x18.138572CHF4.794.80
/product/detail/index/isin/CH0525708910
52570891L4EUSU
Long Factor CertificateEUR/USD4x18.138572CHF4.85--
/product/detail/index/isin/CH0536908061
53690806 
Long Factor CertificateSilver oz./USD10x10.508349CHF21.85122.051
/product/detail/index/isin/CH0536914523
53691452L10XLU
Long Factor CertificateSilver oz./USD10x10.458869CHF18.2818.78
/product/detail/index/isin/CH0535924788
53592478 
Long Factor CertificateBarrick Gold5x7.251116CHF32.3132.81
/product/detail/index/isin/CH0536908053
53690805 
Long Factor CertificateSilver oz./USD8x7.090084CHF17.17217.322
/product/detail/index/isin/CH0536914515
53691451L8XGLU
Long Factor CertificateSilver oz./USD8x7.056693CHF14.7015.00
/product/detail/index/isin/CH0533638679
53363867 
Long Factor CertificateUBS Group AG8x6.831207CHF7.878.27
  • 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.