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/product/detail/index/isin/CH0502940239
50294023S8ROGU
Short Factor CertificateRoche8x0.032083CHF1.311.32
/product/detail/index/isin/CH0502945923
50294592 
Short Factor CertificateRoche8x0.032083CHF1.3121.332
/product/detail/index/isin/CH0516949390
51694939 
Long Factor CertificateNASDAQ 100 Index24x0.031647CHF12.3712.40
/product/detail/index/isin/CH0513968559
51396855 
Short Factor CertificateApple8x0.031473CHF1.171.18
/product/detail/index/isin/CH0497183613
49718361 
Short Factor CertificateVisa10x0.031416CHF0.590.62
/product/detail/index/isin/CH0449360350
44936035FS8SRU
Short Factor CertificateSwiss Re8x0.03126CHF0.420.43
/product/detail/index/isin/CH0449359956
44935995OCBRGU
Long Factor CertificateThe Swatch Grp Bearer8x0.030403CHF1.021.04
/product/detail/index/isin/CH0449366522
44936652 
Long Factor CertificateThe Swatch Grp Bearer8x0.030403CHF1.001.04
/product/detail/index/isin/CH0501543398
50154339L12NQU
Long Factor CertificateNASDAQ 100 Index12x0.030268CHF23.8723.90
/product/detail/index/isin/CH0501543331
50154333L15ESU
Long Factor CertificateEuro STOXX 50 Price Index15x0.030216CHF8.058.20
/product/detail/index/isin/CH0496915858
49691585L10AMU
Long Factor CertificateAmazon.com10x0.030035CHF5.325.37
/product/detail/index/isin/CH0519079831
51907983S5TSAU
Short Factor CertificateTesla Inc5x0.02994CHF2.182.19
/product/detail/index/isin/CH0467747785
46774778S5VSAU
Short Factor CertificateVisa5x0.029939CHF1.161.17
/product/detail/index/isin/CH0467748080
46774808 
Short Factor CertificateVisa5x0.029939CHF1.171.20
/product/detail/index/isin/CH0520486801
52048680 
Short Factor CertificateS&P 500 Index25x0.029657CHF3.763.77
/product/detail/index/isin/CH0449391108
44939110 
Short Factor CertificateNestlé8x0.029425CHF0.3950.40
/product/detail/index/isin/CH0516949382
51694938 
Long Factor CertificateNASDAQ 100 Index23x0.029393CHF11.9511.98
/product/detail/index/isin/CH0520486884
52048688 
Short Factor CertificateTesla Inc8x0.029334CHF1.301.31
/product/detail/index/isin/CH0475520802
47552080L20SMU
Long Factor CertificateSMI PR Index25x0.029305CHF12.9613.12
/product/detail/index/isin/CH0489599925
48959992 
Short Factor CertificateMicrosoft8x0.029002CHF0.60--
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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.