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/product/detail/index/isin/CH0546349785
54634978 
Long Factor CertificateAdecco12x4.961872CHF17.2921.29
/product/detail/index/isin/CH0546382422
54638242 
Long Factor CertificateDaimler15x4.894478CHF13.3414.84
/product/detail/index/isin/CH0546347144
54634714L12UUU
Long Factor CertificateUBS Group AG12x4.829022CHF4.214.31
/product/detail/index/isin/CH0546343192
54634319S10U5U
Short Factor CertificateUBS Group AG10x4.784815CHF4.804.90
/product/detail/index/isin/CH0546349769
54634976L12ACU
Long Factor CertificateAdecco12x4.770581CHF18.0519.05
/product/detail/index/isin/CH0546382406
54638240 
Long Factor CertificateContinental15x4.724079CHF33.6835.18
/product/detail/index/isin/CH0535721069
53572106L5DBHU
Long Factor CertificateDeutsche Bank5x4.652158CHF7.237.83
/product/detail/index/isin/CH0548905139
54890513L15CMU
Long Factor CertificateCommerzbank15x4.474175CHF0.831.43
/product/detail/index/isin/CH0545143544
54514354 
Long Factor CertificateAMS8x4.418959CHF6.1010.10
/product/detail/index/isin/CH0531804893
53180489L8LH9U
Long Factor CertificateLafargeHolcim8x4.394895CHF21.5822.58
/product/detail/index/isin/CH0533637358
53363735 
Long Factor CertificateCredit Suisse5x4.368193CHF7.557.95
/product/detail/index/isin/CH0549251327
54925132 
Long Factor CertificateDeutsche Bank12x4.364078CHF3.003.30
/product/detail/index/isin/CH0540336267
54033626 
Long Factor CertificateSilver oz./USD8x4.293587CHF11.14811.248
/product/detail/index/isin/CH0540336069
54033606L8XG0U
Long Factor CertificateSilver oz./USD8x4.292255CHF11.0811.28
/product/detail/index/isin/CH0531804836
53180483L5CS9U
Long Factor CertificateCredit Suisse5x4.287462CHF7.557.65
/product/detail/index/isin/CH0546381713
54638171L15POU
Long Factor CertificatePorsche15x4.260048CHF24.30--
/product/detail/index/isin/CH0533638687
53363868 
Long Factor CertificateUBS Group AG10x4.194237CHF4.384.78
/product/detail/index/isin/CH0533637366
53363736 
Long Factor CertificateCredit Suisse6x4.174598CHF5.996.39
/product/detail/index/isin/CH0549251319
54925131 
Long Factor CertificateDeutsche Bank10x4.098763CHF3.363.66
/product/detail/index/isin/CH0535721093
53572109L5DTKU
Long Factor CertificateDeutsche Telekom5x4.091177CHF12.1212.72
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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.