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/product/detail/index/isin/CH0484378499
48437849L8LUFU
Long Factor CertificateDeutsche Lufthansa8x2.821425CHF6.206.50
/product/detail/index/isin/CH0489589926
48958992L8DTMU
Long Factor CertificateDeutsche Telekom8x2.798887CHF5.996.14
/product/detail/index/isin/CH0496921716
49692171S8BAGU
Short Factor CertificateBarrick Gold8x2.769534CHF6.61--
/product/detail/index/isin/CH0496880037
49688003 
Short Factor CertificateCredit Suisse6x2.723824CHF5.645.74
/product/detail/index/isin/CH0449359972
44935997OCBNHU
Long Factor CertificateUBS Group AG5x2.723128CHF6.216.26
/product/detail/index/isin/CH0449366548
44936654 
Long Factor CertificateUBS Group AG5x2.723128CHF6.1136.213
/product/detail/index/isin/CH0491168958
49116895S6CSUU
Short Factor CertificateCredit Suisse6x2.620192CHF5.425.47
/product/detail/index/isin/CH0449359980
44935998OCBGQU
Long Factor CertificateUBS Group AG6x2.601891CHF4.944.99
/product/detail/index/isin/CH0449366555
44936655 
Long Factor CertificateUBS Group AG6x2.601891CHF4.8464.946
/product/detail/index/isin/CH0505520319
50552031 
Short Factor CertificateDeutsche Telekom12x2.576894CHF3.893.92
/product/detail/index/isin/CH0505520038
50552003S12DEU
Short Factor CertificateDeutsche Telekom12x2.532319CHF3.713.86
/product/detail/index/isin/CH0505520020
50552002S12CGU
Short Factor CertificateCommerzbank12x2.518079CHF1.171.67
/product/detail/index/isin/CH0497172483
49717248 
Long Factor CertificateBMW12x2.499599CHF15.1916.09
/product/detail/index/isin/CH0484372609
48437260 
Long Factor CertificateDeutsche Lufthansa8x2.486916CHF5.435.46
/product/detail/index/isin/CH0500695603
50069560 
Short Factor CertificateCommerzbank12x2.377152CHF1.201.23
/product/detail/index/isin/CH0462555738
46255573FL12EU
Long Factor CertificateNestlé12x2.371413CHF19.9120.21
/product/detail/index/isin/CH0496915734
49691573L8DIRU
Long Factor CertificateDaimler8x2.362108CHF16.5016.80
/product/detail/index/isin/CH0500695561
50069556 
Long Factor CertificateDeutsche Bank12x2.278834CHF1.501.53
/product/detail/index/isin/CH0496915908
49691590L10INU
Long Factor CertificateIntel10x2.221715CHF12.32--
/product/detail/index/isin/CH0449366944
44936694FL5ABU
Long Factor CertificateABB5x2.204391CHF8.4728.502
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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.