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/product/detail/index/isin/CH0502898676
50289867 
Long Factor CertificateEUR/USD6x28.805748CHF5.2965.298
/product/detail/index/isin/CH0503311653
50331165L12CMU
Long Factor CertificateCommerzbank12x21.560269CHF9.6110.72
/product/detail/index/isin/CH0502898668
50289866 
Short Factor CertificateEUR/USD4x17.482359CHF4.8164.818
/product/detail/index/isin/CH0503311646
50331164L8CBKU
Long Factor CertificateCommerzbank8x11.72606CHF8.068.67
/product/detail/index/isin/CH0503311729
50331172 
Long Factor CertificateCommerzbank8x11.721516CHF8.288.31
/product/detail/index/isin/CH0500695660
50069566 
Short Factor CertificateDeutsche Bank12x9.335371CHF5.895.92
/product/detail/index/isin/CH0500695652
50069565 
Short Factor CertificateDeutsche Bank10x8.846304CHF6.696.72
/product/detail/index/isin/CH0500695603
50069560 
Short Factor CertificateCommerzbank12x8.570751CHF4.234.26
/product/detail/index/isin/CH0497804341
49780434S12DBU
Short Factor CertificateDeutsche Bank12x8.451569CHF4.975.49
/product/detail/index/isin/CH0500221509
50022150 
Long Factor CertificateCommerzbank12x8.429744CHF3.943.97
/product/detail/index/isin/CH0496880052
49688005 
Short Factor CertificateCredit Suisse12x8.284314CHF8.328.47
/product/detail/index/isin/CH0500221491
50022149 
Long Factor CertificateCommerzbank10x7.749871CHF4.364.39
/product/detail/index/isin/CH0500695645
50069564 
Short Factor CertificateDeutsche Bank8x7.467936CHF7.067.09
/product/detail/index/isin/CH0500221319
50022131L12DBU
Long Factor CertificateDeutsche Bank12x7.180104CHF4.384.74
/product/detail/index/isin/CH0496874535
49687453L12USU
Long Factor CertificateUBS Group AG12x7.064631CHF6.616.76
/product/detail/index/isin/CH0497804333
49780433S8DBKU
Short Factor CertificateDeutsche Bank8x7.037187CHF6.356.77
/product/detail/index/isin/CH0496880029
49688002 
Short Factor CertificateABB12x6.952851CHF10.3910.54
/product/detail/index/isin/CH0484372542
48437254 
Short Factor CertificateCommerzbank8x6.907556CHF5.065.09
/product/detail/index/isin/CH0491168941
49116894S12ABU
Short Factor CertificateABB12x6.868725CHF10.2610.41
/product/detail/index/isin/CH0496880045
49688004 
Short Factor CertificateCredit Suisse10x6.798389CHF8.178.32
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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.