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/product/detail/index/isin/CH0531804919
53180491L12O9U
Long Factor CertificateLogitech12x6.838927CHF29.82--
/product/detail/index/isin/CH0545773183
54577318 
Long Factor CertificateDeutsche Telekom15x6.606743CHF6.827.42
/product/detail/index/isin/CH0545778828
54577882L12CVU
Long Factor CertificateCommerzbank12x6.518073CHF0.063.06
/product/detail/index/isin/CH0533638679
53363867 
Long Factor CertificateUBS Group AG8x6.404657CHF8.338.93
/product/detail/index/isin/CH0533638661
53363866 
Long Factor CertificateUBS Group AG6x6.385289CHF10.9011.50
/product/detail/index/isin/CH0531805080
53180508L8UB9U
Long Factor CertificateUBS Group AG8x6.196226CHF8.058.20
/product/detail/index/isin/CH0548708632
54870863S8CBAU
Short Factor CertificateCommerzbank8x6.187604CHF2.712.91
/product/detail/index/isin/CH0548918462
54891846 
Short Factor CertificateDeutsche Bank8x6.096297CHF5.586.03
/product/detail/index/isin/CH0548905063
54890506S8DB1U
Short Factor CertificateDeutsche Bank8x6.057188CHF5.646.54
/product/detail/index/isin/CH0546347102
54634710 
Short Factor CertificateUBS Group AG10x6.006099CHF5.826.22
/product/detail/index/isin/CH0546337566
54633756 
Short Factor CertificateCredit Suisse8x6.00394CHF6.316.71
/product/detail/index/isin/CH0535918681
53591868 
Long Factor CertificateDeutsche Bank5x5.748021CHF9.399.69
/product/detail/index/isin/CH0537277011
53727701L8ASMU
Long Factor CertificateAMS8x5.741443CHF10.0211.02
/product/detail/index/isin/CH0540336275
54033627 
Long Factor CertificateSilver oz./USD10x5.645705CHF12.34512.445
/product/detail/index/isin/CH0540336077
54033607L10XGU
Long Factor CertificateSilver oz./USD10x5.64395CHF12.2212.52
/product/detail/index/isin/CH0546343200
54634320S12USU
Short Factor CertificateUBS Group AG12x5.615744CHF4.694.79
/product/detail/index/isin/CH0549251285
54925128 
Long Factor CertificateCommerzbank8x5.489257CHF2.612.91
/product/detail/index/isin/CH0546382448
54638244 
Long Factor CertificatePorsche15x5.485984CHF16.7019.70
/product/detail/index/isin/CH0531805072
53180507L5UB9U
Long Factor CertificateUBS Group AG5x5.480227CHF11.4411.54
/product/detail/index/isin/CH0546349785
54634978 
Long Factor CertificateAdecco12x4.961872CHF17.2921.29
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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.