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/product/detail/index/isin/CH0489590627
48959062 
Long Factor CertificateDow Jones Industrial Average Index10x0.00CHF0.01--
/product/detail/index/isin/CH0513462850
51346285 
Long Factor CertificateAmazon.com8x0.02228CHF6.696.84
/product/detail/index/isin/CH0462174290
46217429 
Short Factor CertificateS&P 500 Index4x0.002509CHF1.8221.827
/product/detail/index/isin/CH0462176923
46217692FS6DXU
Short Factor CertificateDAX6x0.000411CHF0.700.71
/product/detail/index/isin/CH0508410542
50841054 
Short Factor CertificateSAP SE8x0.031525CHF0.44--
/product/detail/index/isin/CH0513968534
51396853S8ALIU
Short Factor CertificateAlibaba8x0.012273CHF0.29--
/product/detail/index/isin/CH0512540342
51254034S8SMIU
Short Factor CertificateSMI PR Index8x0.000977CHF1.081.09
/product/detail/index/isin/CH0515825443
51582544S5TSLU
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0513453537
51345353S5ADSU
Short Factor Certificateadidas5x0.034754CHF1.61--
/product/detail/index/isin/CH0516949234
51694923 
Long Factor CertificateDeutsche Lufthansa12x0.00CHF0.001--
/product/detail/index/isin/CH0518348518
51834851L5ALPU
Long Factor CertificateAlphabet Inc. C5x0.005994CHF1.671.69
/product/detail/index/isin/CH0518348484
51834848L5BABU
Long Factor CertificateAlibaba5x0.040879CHF1.551.65
/product/detail/index/isin/CH0518357170
51835717 
Long Factor CertificateAlibaba5x0.03687CHF1.421.47
/product/detail/index/isin/CH0518357451
51835745 
Short Factor CertificateMicrosoft5x0.006932CHF0.190.28
/product/detail/index/isin/CH0518357378
51835737 
Short Factor CertificateAlibaba5x0.078441CHF3.093.19
/product/detail/index/isin/CH0520494540
52049454 
Short Factor CertificateDow Jones Industrial Average Index10x0.000003CHF0.0170.02
/product/detail/index/isin/CH0520488880
52048888S8DAXU
Short Factor CertificateDAX8x0.000354CHF0.420.43
/product/detail/index/isin/CH0518173916
51817391L4SSMU
Long Factor CertificateSMI PR Index4x0.001114CHF2.862.87
/product/detail/index/isin/CH0518173957
51817395L6ROCU
Long Factor CertificateRoche6x0.048243CHF2.712.72
/product/detail/index/isin/CH0489593779
48959377L5VOWU
Long Factor CertificateVolkswagen VZ5x0.005091CHF0.180.19
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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.