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/product/detail/index/isin/CH0449390951
44939095 
Long Factor CertificateABB5x2.204391CHF8.2618.361
/product/detail/index/isin/CH0449359774
44935977UCFJIU
Short Factor CertificateUBS Group AG5x2.197343CHF5.005.05
/product/detail/index/isin/CH0449360053
44936005 
Short Factor CertificateUBS Group AG5x2.197343CHF5.0365.136
/product/detail/index/isin/CH0497183191
49718319 
Long Factor CertificatePorsche10x2.160143CHF14.6216.12
/product/detail/index/isin/CH0497172525
49717252 
Long Factor CertificateDaimler8x2.097604CHF13.9014.50
/product/detail/index/isin/CH0496915809
49691580L12SIU
Long Factor CertificateSiemens12x2.025509CHF19.3619.38
/product/detail/index/isin/CH0449359782
44935978DJIGIU
Short Factor CertificateUBS Group AG6x2.014469CHF3.823.87
/product/detail/index/isin/CH0449366704
44936670 
Short Factor CertificateUBS Group AG6x2.014469CHF3.8443.944
/product/detail/index/isin/CH0449366951
44936695FL8ABU
Long Factor CertificateABB8x2.004256CHF4.7994.829
/product/detail/index/isin/CH0449390969
44939096 
Long Factor CertificateABB8x2.004256CHF4.6024.702
/product/detail/index/isin/CH0486384743
48638474L6CEXU
Long Factor CertificateCredit Suisse6x1.95845CHF4.034.06
/product/detail/index/isin/CH0462175651
46217565FL5DBU
Long Factor CertificateDeutsche Bank5x1.955589CHF3.173.27
/product/detail/index/isin/CH0486380139
48638013 
Long Factor CertificateCredit Suisse6x1.928868CHF3.933.99
/product/detail/index/isin/CH0496921708
49692170S5BARU
Short Factor CertificateBarrick Gold5x1.926588CHF7.05--
/product/detail/index/isin/CH0449359998
44935999ODBSHU
Long Factor CertificateUBS Group AG8x1.901582CHF2.712.74
/product/detail/index/isin/CH0449366563
44936656 
Long Factor CertificateUBS Group AG8x1.901582CHF2.6422.702
/product/detail/index/isin/CH0462167468
46216746 
Long Factor CertificateDeutsche Bank5x1.900507CHF2.962.97
/product/detail/index/isin/CH0500221335
50022133L8AMDU
Long Factor CertificateAMD8x1.868584CHF9.26--
/product/detail/index/isin/CH0497172459
49717245 
Long Factor CertificateBASF10x1.863878CHF13.3313.93
/product/detail/index/isin/CH0462168813
46216881 
Short Factor CertificateCommerzbank5x1.845209CHF2.262.27
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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.