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/product/detail/index/isin/CH0518174005
51817400 
Long Factor CertificateSMI PR Index10x0.00476CHF5.205.22
/product/detail/index/isin/CH0518173932
51817393L10SIU
Long Factor CertificateSMI PR Index10x0.00475CHF5.215.23
/product/detail/index/isin/CH0501557216
50155721 
Short Factor CertificateEuro STOXX 50 Price Index12x0.004718CHF1.641.65
/product/detail/index/isin/CH0486380089
48638008 
Long Factor CertificateSMI PR Index6x0.004709CHF8.558.59
/product/detail/index/isin/CH0489599917
48959991 
Short Factor CertificateMasterCard12x0.004695CHF0.10--
/product/detail/index/isin/CH0508410427
50841042S10BDU
Short Factor CertificateBaidu Inc10x0.004667CHF0.050.07
/product/detail/index/isin/CH0462174290
46217429 
Short Factor CertificateS&P 500 Index4x0.004664CHF3.753.752
/product/detail/index/isin/CH0505520418
50552041 
Short Factor CertificateNetflix10x0.004636CHF0.200.21
/product/detail/index/isin/CH0515820139
51582013 
Short Factor CertificateTesla Inc5x0.004575CHF0.380.39
/product/detail/index/isin/CH0512540334
51254033 
Short Factor CertificateSMI PR Index21x0.004406CHF2.262.28
/product/detail/index/isin/CH0512540326
51254032 
Short Factor CertificateSMI PR Index20x0.004383CHF2.362.38
/product/detail/index/isin/CH0516949283
51694928 
Short Factor CertificateNASDAQ 100 Index21x0.004354CHF1.741.75
/product/detail/index/isin/CH0516949291
51694929 
Short Factor CertificateNASDAQ 100 Index22x0.004321CHF1.641.65
/product/detail/index/isin/CH0501543356
50154335L12DSU
Long Factor CertificateDow Jones Industrial Average Index12x0.004303CHF10.2310.24
/product/detail/index/isin/CH0516949309
51694930 
Short Factor CertificateNASDAQ 100 Index23x0.004276CHF1.551.56
/product/detail/index/isin/CH0489597218
48959721S12MAU
Short Factor CertificateMasterCard12x0.004231CHF0.090.11
/product/detail/index/isin/CH0516949317
51694931 
Short Factor CertificateNASDAQ 100 Index24x0.004221CHF1.471.48
/product/detail/index/isin/CH0497178670
49717867 
Short Factor Certificateadidas12x0.004197CHF0.110.14
/product/detail/index/isin/CH0501557489
50155748 
Short Factor CertificateS&P 500 Index12x0.004193CHF1.121.13
/product/detail/index/isin/CH0516949325
51694932 
Short Factor CertificateNASDAQ 100 Index25x0.004156CHF1.381.39
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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.