Bid
Ask
/product/detail/index/isin/CH0490031389
49003138L10UBU
Long Factor CertificateUBS Group AG10x6.066314CHF6.907.00
/product/detail/index/isin/CH0490032502
49003250 
Long Factor CertificateUBS Group AG12x6.059465CHF5.525.72
/product/detail/index/isin/CH0499190814
49919081L12CSU
Long Factor CertificateCredit Suisse12x5.715711CHF5.825.92
/product/detail/index/isin/CH0490032494
49003249 
Long Factor CertificateUBS Group AG10x5.60777CHF6.176.37
/product/detail/index/isin/CH0480745303
48074530L8TELU
Long Factor CertificateDeutsche Telekom8x5.488186CHF11.7412.04
/product/detail/index/isin/CH0484087132
48408713 
Long Factor CertificateDeutsche Bank10x5.379794CHF4.254.28
/product/detail/index/isin/CH0496909117
49690911L12CBU
Long Factor CertificateCommerzbank12x5.356529CHF2.582.78
/product/detail/index/isin/CH0484087165
48408716 
Long Factor CertificateDeutsche Telekom8x5.338428CHF11.3611.39
/product/detail/index/isin/CH0490028591
49002859L12ABU
Long Factor CertificateABB12x5.030045CHF7.9898.089
/product/detail/index/isin/CH0496880052
49688005 
Short Factor CertificateCredit Suisse12x4.580708CHF4.734.93
/product/detail/index/isin/CH0449366605
44936660 
Long Factor CertificateCredit Suisse8x4.562793CHF6.907.10
/product/detail/index/isin/CH0449360038
44936003ODASTU
Long Factor CertificateCredit Suisse8x4.56256CHF7.017.11
/product/detail/index/isin/CH0489589918
48958991L12DTU
Long Factor CertificateDeutsche Telekom12x4.216943CHF5.956.15
/product/detail/index/isin/CH0496880045
49688004 
Short Factor CertificateCredit Suisse10x4.193176CHF5.195.39
/product/detail/index/isin/CH0491168966
49116896S10CRU
Short Factor CertificateCredit Suisse10x3.897513CHF4.824.92
/product/detail/index/isin/CH0500695645
50069564 
Short Factor CertificateDeutsche Bank8x3.896458CHF4.084.11
/product/detail/index/isin/CH0500695652
50069565 
Short Factor CertificateDeutsche Bank10x3.878759CHF3.293.32
/product/detail/index/isin/CH0503316470
50331647 
Long Factor CertificateDaimler12x3.854599CHF16.6618.16
/product/detail/index/isin/CH0497183530
49718353 
Short Factor CertificateBarrick Gold8x3.752209CHF9.309.31
/product/detail/index/isin/CH0489599768
48959976 
Long Factor CertificateDeutsche Telekom10x3.708862CHF6.266.29
  • 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.