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/product/detail/index/isin/CH0489599438
48959943 
Long Factor CertificateEuro STOXX 50 Price Index5x0.008112CHF6.4986.508
/product/detail/index/isin/CH0501616657
50161665 
Long Factor CertificateSMI PR Index18x0.019086CHF11.5411.74
/product/detail/index/isin/CH0493876145
49387614L8AMXU
Long Factor CertificateAMD8x3.895581CHF26.16--
/product/detail/index/isin/CH0497172509
49717250 
Long Factor CertificateContinental12x0.096764CHF0.950.98
/product/detail/index/isin/CH0500693699
50069369 
Long Factor CertificateZalando10x0.74434CHF3.593.75
/product/detail/index/isin/CH0501543398
50154339L12NQU
Long Factor CertificateNASDAQ 100 Index12x0.030268CHF23.8723.90
/product/detail/index/isin/CH0497172434
49717243 
Long Factor Certificateadidas10x0.277161CHF9.079.37
/product/detail/index/isin/CH0497183746
49718374 
Long Factor CertificateAmazon.com10x0.027682CHF4.94--
/product/detail/index/isin/CH0501557992
50155799 
Long Factor CertificateS&P 500 Index24x0.143004CHF19.3419.39
/product/detail/index/isin/CH0496915783
49691578L5SIEU
Long Factor CertificateSiemens5x0.665814CHF16.6616.68
/product/detail/index/isin/CH0490032445
49003244 
Long Factor CertificateAdecco12x1.9961CHF9.7510.35
/product/detail/index/isin/CH0501557679
50155767 
Long Factor CertificateEuro STOXX 50 Price Index18x0.027166CHF5.865.89
/product/detail/index/isin/CH0501615824
50161582 
Long Factor CertificateSMI PR Index15x0.015307CHF11.0911.29
/product/detail/index/isin/CH0501557778
50155777 
Long Factor CertificateDow Jones Industrial Average Index20x0.007469CHF10.5810.59
/product/detail/index/isin/CH0489590627
48959062 
Long Factor CertificateDow Jones Industrial Average Index10x0.002286CHF6.4736.476
/product/detail/index/isin/CH0490032502
49003250 
Long Factor CertificateUBS Group AG12x6.842934CHF6.877.17
/product/detail/index/isin/CH0497183779
49718377 
Long Factor CertificateMasterCard10x0.250719CHF8.418.51
/product/detail/index/isin/CH0501543356
50154335L12DSU
Long Factor CertificateDow Jones Industrial Average Index12x0.004303CHF10.2310.24
/product/detail/index/isin/CH0500221541
50022154 
Long Factor CertificateNetflix8x0.506583CHF14.4814.68
/product/detail/index/isin/CH0497804416
49780441L10ILU
Long Factor CertificateIntel10x1.545696CHF11.0411.34
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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.