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/product/detail/index/isin/CH0489586831
48958683L10SPU
Long Factor CertificateS&P 500 Index10x0.016567CHF5.145.15
/product/detail/index/isin/CH0501557737
50155773 
Long Factor CertificateEuro STOXX 50 Price Index25x0.01649CHF2.542.56
/product/detail/index/isin/CH0499190640
49919064L25SIU
Long Factor CertificateSMI PR Index25x0.016208CHF6.716.81
/product/detail/index/isin/CH0466047294
46604729S5ADIU
Short Factor Certificateadidas5x0.016107CHF1.031.04
/product/detail/index/isin/CH0466050090
46605009 
Short Factor Certificateadidas5x0.016107CHF1.031.04
/product/detail/index/isin/CH0489600129
48960012 
Long Factor CertificateNetflix5x0.015987CHF0.960.99
/product/detail/index/isin/CH0507032628
50703262 
Short Factor CertificateTesla Inc8x0.015985CHF0.630.66
/product/detail/index/isin/CH0486380394
48638039S10ZXU
Short Factor CertificateZurich Insurance10x0.015766CHF0.600.62
/product/detail/index/isin/CH0500695728
50069572 
Short Factor CertificateApple10x0.015276CHF0.40--
/product/detail/index/isin/CH0449391058
44939105 
Short Factor CertificateSwiss Life5x0.014893CHF1.481.49
/product/detail/index/isin/CH0449360400
44936040FS5SLU
Short Factor CertificateSwiss Life5x0.014893CHF1.481.49
/product/detail/index/isin/CH0489590775
48959077 
Long Factor CertificateS&P 500 Index8x0.014597CHF5.6535.663
/product/detail/index/isin/CH0449359857
44935985BJIWQU
Short Factor CertificateZurich Insurance5x0.01458CHF1.141.15
/product/detail/index/isin/CH0449366779
44936677 
Short Factor CertificateZurich Insurance5x0.01458CHF1.1411.151
/product/detail/index/isin/CH0501557844
50155784 
Long Factor CertificateNASDAQ 100 Index15x0.01447CHF7.837.84
/product/detail/index/isin/CH0489586849
48958684L8SPXU
Long Factor CertificateS&P 500 Index8x0.014352CHF5.575.58
/product/detail/index/isin/CH0489599461
48959946 
Long Factor CertificateEuro STOXX 50 Price Index10x0.01434CHF5.6945.714
/product/detail/index/isin/CH0505513082
50551308 
Long Factor CertificateWirecard AG12x0.014223CHF0.140.15
/product/detail/index/isin/CH0499190632
49919063L20SIU
Long Factor CertificateSMI PR Index20x0.014158CHF7.367.41
/product/detail/index/isin/CH0475520802
47552080L20SMU
Long Factor CertificateSMI PR Index25x0.014051CHF5.845.89
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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.