Bid
Ask
/product/detail/index/isin/CH0545778810
54577881L8CBKU
Long Factor CertificateCommerzbank8x26.378491CHF20.5221.52
/product/detail/index/isin/CH0545148659
54514865L12UBU
Long Factor CertificateUBS Group AG12x24.329598CHF26.56--
/product/detail/index/isin/CH0545143643
54514364L8CSGU
Long Factor CertificateCredit Suisse8x24.30987CHF36.88--
/product/detail/index/isin/CH0545773050
54577305 
Long Factor CertificateCommerzbank12x21.879539CHF13.2613.76
/product/detail/index/isin/CH0545148592
54514859L10CSU
Long Factor CertificateCredit Suisse10x21.691725CHF28.6029.10
/product/detail/index/isin/CH0525708969
52570896S8EUSU
Short Factor CertificateEUR/USD8x21.654207CHF3.03--
/product/detail/index/isin/CH0525715642
52571564 
Short Factor CertificateEUR/USD8x21.654207CHF2.993.00
/product/detail/index/isin/CH0545143551
54514355 
Long Factor CertificateCredit Suisse10x21.457389CHF28.2928.79
/product/detail/index/isin/CH0545778869
54577886L8DBNU
Long Factor CertificateDeutsche Bank8x21.394344CHF28.2029.20
/product/detail/index/isin/CH0525708910
52570891L4EUSU
Long Factor CertificateEUR/USD4x20.754469CHF5.65--
/product/detail/index/isin/CH0525715659
52571565 
Long Factor CertificateEUR/USD4x20.754469CHF5.615.62
/product/detail/index/isin/CH0545143601
54514360 
Long Factor CertificateUBS Group AG12x20.679156CHF22.5423.04
/product/detail/index/isin/CH0545773118
54577311 
Long Factor CertificateDeutsche Bank8x20.371705CHF27.0827.58
/product/detail/index/isin/CH0546385813
54638581 
Long Factor CertificateBMW15x19.738237CHF118.44--
/product/detail/index/isin/CH0525708951
52570895S6EUSU
Short Factor CertificateEUR/USD6x18.880395CHF3.50--
/product/detail/index/isin/CH0525715634
52571563 
Short Factor CertificateEUR/USD6x18.880395CHF3.463.47
/product/detail/index/isin/CH0535918749
53591874 
Long Factor CertificateDeutsche Telekom12x18.511789CHF----
/product/detail/index/isin/CH0545778828
54577882L12CVU
Long Factor CertificateCommerzbank12x17.841666CHF10.5211.52
/product/detail/index/isin/CH0535721077
53572107L1DTIU
Long Factor CertificateDeutsche Telekom12x17.233575CHF25.46--
/product/detail/index/isin/CH0548905139
54890513L15CMU
Long Factor CertificateCommerzbank15x16.207575CHF8.399.39
  • 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.