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/product/detail/index/isin/CH0489590452
48959045 
Short Factor Certificateadidas8x0.046076CHF1.721.78
/product/detail/index/isin/CH0489590510
48959051 
Short Factor CertificateDeutsche Lufthansa5x0.37181CHF1.381.41
/product/detail/index/isin/CH0489590478
48959047 
Short Factor CertificateBMW5x0.114975CHF1.841.87
/product/detail/index/isin/CH0466049837
46604983 
Long Factor CertificateFacebook12x0.119666CHF1.96--
/product/detail/index/isin/CH0462555829
46255582 
Long Factor CertificateSwiss Re12x1.962656CHF17.73718.037
/product/detail/index/isin/CH0462555860
46255586 
Long Factor CertificateAdecco12x0.52179CHF2.6312.731
/product/detail/index/isin/CH0462168896
46216889 
Short Factor CertificateBMW8x0.15995CHF1.581.64
/product/detail/index/isin/CH0462170991
46217099 
Long Factor CertificateFacebook10x0.119982CHF2.422.44
/product/detail/index/isin/CH0462171114
46217111 
Short Factor CertificateFacebook5x0.044864CHF1.841.85
/product/detail/index/isin/CH0462167468
46216746 
Long Factor CertificateDeutsche Bank5x1.012558CHF1.471.48
/product/detail/index/isin/CH0462168797
46216879 
Short Factor CertificateDeutsche Bank5x2.667693CHF3.803.81
/product/detail/index/isin/CH0462168730
46216873 
Long Factor CertificateVolkswagen VZ10x0.398163CHF7.797.89
/product/detail/index/isin/CH0462168904
46216890 
Short Factor CertificateDeutsche Telekom8x1.158129CHF2.382.42
/product/detail/index/isin/CH0462168664
46216866 
Long Factor CertificateVolkswagen VZ8x0.492907CHF11.5512.00
/product/detail/index/isin/CH0462167476
46216747 
Long Factor CertificateVolkswagen VZ5x0.404128CHF15.2915.74
/product/detail/index/isin/CH0462176915
46217691FS4DXU
Short Factor CertificateDAX4x0.001122CHF4.064.09
/product/detail/index/isin/CH0462182368
46218236FS10EU
Short Factor CertificateEuro STOXX 50 Price Index10x0.001472CHF0.610.63
/product/detail/index/isin/CH0489584026
48958402L10EXU
Long Factor CertificateEuro STOXX 50 Price Index10x0.013846CHF5.575.59
/product/detail/index/isin/CH0489583978
48958397L8DXXU
Long Factor CertificateDAX8x0.003392CHF6.086.13
/product/detail/index/isin/CH0489583960
48958396L10DXU
Long Factor CertificateDAX10x0.003985CHF5.705.80
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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.