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/product/detail/index/isin/CH0506642807
50664280 
Short Factor CertificateUBS Group AG8x2.394927CHF3.573.67
/product/detail/index/isin/CH0508410369
50841036S12CBU
Short Factor CertificateCommerzbank12x2.374924CHF1.071.22
/product/detail/index/isin/CH0506636163
50663616S8UBSU
Short Factor CertificateUBS Group AG8x2.346667CHF3.593.64
/product/detail/index/isin/CH0484087157
48408715 
Long Factor CertificateDeutsche Telekom5x2.337389CHF7.497.52
/product/detail/index/isin/CH0484372542
48437254 
Short Factor CertificateCommerzbank8x2.290363CHF1.571.60
/product/detail/index/isin/CH0486384743
48638474L6CEXU
Long Factor CertificateCredit Suisse6x2.274367CHF5.015.06
/product/detail/index/isin/CH0508410534
50841053 
Short Factor CertificateCommerzbank12x2.244697CHF1.021.05
/product/detail/index/isin/CH0486380139
48638013 
Long Factor CertificateCredit Suisse6x2.240014CHF4.894.99
/product/detail/index/isin/CH0509128614
50912861 
Short Factor CertificateContinental12x2.233202CHF21.6222.22
/product/detail/index/isin/CH0497183159
49718315 
Long Factor CertificateDeutsche Telekom12x2.179162CHF2.932.96
/product/detail/index/isin/CH0508410484
50841048 
Short Factor CertificateBASF12x2.115195CHF11.9312.53
/product/detail/index/isin/CH0508410336
50841033S12BFU
Short Factor CertificateBASF12x2.09862CHF12.1412.24
/product/detail/index/isin/CH0486380287
48638028L5CEXU
Long Factor CertificateCredit Suisse5x2.058677CHF5.445.49
/product/detail/index/isin/CH0462555829
46255582 
Long Factor CertificateSwiss Re12x2.047498CHF18.70719.107
/product/detail/index/isin/CH0462555688
46255568FL12IU
Long Factor CertificateSwiss Re12x2.047498CHF18.3318.53
/product/detail/index/isin/CH0486380121
48638012 
Long Factor CertificateCredit Suisse5x2.028445CHF5.325.42
/product/detail/index/isin/CH0507035134
50703513L8TWRU
Long Factor CertificateTwitter Inc.8x2.023139CHF8.008.30
/product/detail/index/isin/CH0509135064
50913506S12CNU
Short Factor CertificateContinental12x2.014858CHF19.0420.04
/product/detail/index/isin/CH0466042899
46604289L8VISU
Long Factor CertificateVisa8x2.003377CHF52.4053.40
/product/detail/index/isin/CH0493876160
49387616L10NVU
Long Factor CertificateNVIDIA Corp10x2.000064CHF48.5550.55
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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.