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/product/detail/index/isin/CH0520486876
52048687 
Short Factor CertificateTesla Inc5x0.028522CHF2.402.41
/product/detail/index/isin/CH0480738779
48073877S5BAIU
Short Factor CertificateBaidu Inc5x0.028445CHF0.780.79
/product/detail/index/isin/CH0470036697
47003669 
Short Factor CertificateWirecard AG5x0.027766CHF0.770.80
/product/detail/index/isin/CH0497804366
49780436S10WCU
Short Factor CertificateWirecard AG10x0.02772CHF0.390.41
/product/detail/index/isin/CH0497183746
49718374 
Long Factor CertificateAmazon.com10x0.027682CHF4.94--
/product/detail/index/isin/CH0516949374
51694937 
Long Factor CertificateNASDAQ 100 Index22x0.02724CHF11.5511.58
/product/detail/index/isin/CH0501557679
50155767 
Long Factor CertificateEuro STOXX 50 Price Index18x0.027166CHF5.865.89
/product/detail/index/isin/CH0508410443
50841044S8NVAU
Short Factor CertificateNVIDIA Corp8x0.027006CHF0.700.71
/product/detail/index/isin/CH0508410617
50841061 
Short Factor CertificateNVIDIA Corp8x0.026934CHF0.750.76
/product/detail/index/isin/CH0511312008
51131200 
Short Factor CertificateNetflix10x0.026826CHF1.201.21
/product/detail/index/isin/CH0501557836
50155783 
Long Factor CertificateNASDAQ 100 Index12x0.026632CHF20.2620.29
/product/detail/index/isin/CH0520494623
52049462 
Long Factor CertificateS&P 500 Index18x0.02658CHF4.784.79
/product/detail/index/isin/CH0496921856
49692185S10VIU
Short Factor CertificateVisa10x0.026563CHF0.490.50
/product/detail/index/isin/CH0489590783
48959078 
Long Factor CertificateS&P 500 Index10x0.026407CHF8.5298.539
/product/detail/index/isin/CH0501557687
50155768 
Long Factor CertificateEuro STOXX 50 Price Index20x0.026398CHF5.105.13
/product/detail/index/isin/CH0462171874
46217187FS5FBU
Short Factor CertificateFacebook5x0.026334CHF1.141.15
/product/detail/index/isin/CH0513968526
51396852S10APU
Short Factor CertificateApple10x0.02631CHF0.770.78
/product/detail/index/isin/CH0499190632
49919063L20SIU
Long Factor CertificateSMI PR Index20x0.026108CHF14.3914.54
/product/detail/index/isin/CH0501557695
50155769 
Long Factor CertificateEuro STOXX 50 Price Index21x0.025943CHF4.764.79
/product/detail/index/isin/CH0489586831
48958683L10SPU
Long Factor CertificateS&P 500 Index10x0.025854CHF8.508.51
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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.