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/product/detail/index/isin/CH0548918447
54891844 
Short Factor CertificateCommerzbank12x14.031961CHF3.683.98
/product/detail/index/isin/CH0545143551
54514355 
Long Factor CertificateCredit Suisse10x13.944449CHF16.5316.83
/product/detail/index/isin/CH0546382406
54638240 
Long Factor CertificateContinental15x13.897339CHF98.3299.32
/product/detail/index/isin/CH0546385813
54638581 
Long Factor CertificateBMW15x12.490423CHF40.9341.93
/product/detail/index/isin/CH0545772086
54577208L15XGU
Long Factor CertificateSilver oz./USD15x12.02999CHF14.6215.12
/product/detail/index/isin/CH0545771856
54577185 
Long Factor CertificateSilver oz./USD15x12.022608CHF14.77914.979
/product/detail/index/isin/CH0548918439
54891843 
Short Factor CertificateCommerzbank10x12.011607CHF3.934.23
/product/detail/index/isin/CH0546382448
54638244 
Long Factor CertificatePorsche15x11.886205CHF36.6139.61
/product/detail/index/isin/CH0546375640
54637564L15CNU
Long Factor CertificateContinental15x11.701531CHF88.8093.80
/product/detail/index/isin/CH0546385821
54638582 
Long Factor CertificateDaimler12x10.561049CHF25.3026.30
/product/detail/index/isin/CH0548905030
54890503S12CMU
Short Factor CertificateCommerzbank12x10.556044CHF2.633.13
/product/detail/index/isin/CH0535918749
53591874 
Long Factor CertificateDeutsche Telekom12x10.538404CHF6.306.31
/product/detail/index/isin/CH0546385789
54638578L12DDU
Long Factor CertificateDaimler12x10.043204CHF34.8536.85
/product/detail/index/isin/CH0535721077
53572107L1DTIU
Long Factor CertificateDeutsche Telekom12x9.810741CHF14.5615.06
/product/detail/index/isin/CH0546381713
54638171L15POU
Long Factor CertificatePorsche15x9.230031CHF28.6030.60
/product/detail/index/isin/CH0536908111
53690811L6XGLU
Long Factor CertificateSilver oz./USD6x8.755427CHF25.34--
/product/detail/index/isin/CH0545772078
54577207L12XGU
Long Factor CertificateSilver oz./USD12x8.547199CHF12.7013.20
/product/detail/index/isin/CH0545771849
54577184 
Long Factor CertificateSilver oz./USD12x8.541912CHF12.88613.036
/product/detail/index/isin/CH0546349777
54634977 
Long Factor CertificateABB12x7.926452CHF14.5114.66
/product/detail/index/isin/CH0535721085
53572108L8DTJU
Long Factor CertificateDeutsche Telekom8x7.815936CHF16.4616.96
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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.