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/product/detail/index/isin/CH0507837687
50783768S8TWTU
Short Factor CertificateTwitter Inc.8x1.003573CHF3.614.01
/product/detail/index/isin/CH0507837653
50783765S10ALU
Short Factor CertificateAlibaba10x0.053264CHF1.101.16
/product/detail/index/isin/CH0507032552
50703255 
Long Factor CertificateSiemens10x1.06084CHF13.2113.22
/product/detail/index/isin/CH0507820113
50782011 
Long Factor CertificateDeutsche Bank8x4.083852CHF4.114.12
/product/detail/index/isin/CH0507820139
50782013 
Long Factor CertificateDeutsche Bank12x4.16672CHF2.952.96
/product/detail/index/isin/CH0507820121
50782012 
Long Factor CertificateDeutsche Bank10x4.307975CHF3.573.58
/product/detail/index/isin/CH0462171809
46217180FL8GOU
Long Factor CertificateAlphabet Inc. C8x0.042463CHF6.88--
/product/detail/index/isin/CH0462169894
46216989FL5AMU
Long Factor CertificateAmazon.com5x0.025589CHF8.798.85
/product/detail/index/isin/CH0489594207
48959420 
Short Factor CertificateNASDAQ 100 Index25x0.000077CHF0.0360.037
/product/detail/index/isin/CH0489591013
48959101 
Long Factor CertificateAMD5x0.675493CHF5.145.29
/product/detail/index/isin/CH0489591039
48959103 
Long Factor CertificateApple8x0.674028CHF22.1822.63
/product/detail/index/isin/CH0489599891
48959989 
Short Factor CertificateFacebook8x0.095142CHF2.36--
/product/detail/index/isin/CH0489600129
48960012 
Long Factor CertificateNetflix5x0.015987CHF0.960.99
/product/detail/index/isin/CH0489600095
48960009 
Long Factor CertificateMicrosoft5x0.221867CHF6.476.62
/product/detail/index/isin/CH0489594082
48959408 
Long Factor CertificateDAX8x0.003558CHF6.3596.362
/product/detail/index/isin/CH0489600053
48960005 
Long Factor CertificateIntel12x0.948135CHF3.74--
/product/detail/index/isin/CH0489590932
48959093 
Short Factor CertificateNASDAQ 100 Index20x0.00029CHF0.1350.136
/product/detail/index/isin/CH0489594074
48959407 
Long Factor CertificateDAX6x0.002645CHF6.3196.321
/product/detail/index/isin/CH0489590775
48959077 
Long Factor CertificateS&P 500 Index8x0.014597CHF5.6335.643
/product/detail/index/isin/CH0489594090
48959409 
Long Factor CertificateDAX10x0.004218CHF6.0146.017
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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.