Bid
Ask
/product/detail/index/isin/CH0462181121
46218112FL8BMU
Long Factor CertificateBMW8x0.274093CHF2.602.63
/product/detail/index/isin/CH0462175651
46217565FL5DBU
Long Factor CertificateDeutsche Bank5x1.754958CHF2.742.84
/product/detail/index/isin/CH0462171676
46217167FL5BIU
Long Factor CertificateBaidu Inc5x0.0076CHF0.170.18
/product/detail/index/isin/CH0462181097
46218109FL8DBU
Long Factor CertificateDeutsche Bank8x0.388478CHF0.420.44
/product/detail/index/isin/CH0462175669
46217566FL5VWU
Long Factor CertificateVolkswagen VZ5x0.391963CHF14.6714.77
/product/detail/index/isin/CH0449366720
44936672 
Short Factor CertificateUBS Group AG10x0.960856CHF1.0781.118
/product/detail/index/isin/CH0449366779
44936677 
Short Factor CertificateZurich Insurance5x0.01753CHF1.3371.377
/product/detail/index/isin/CH0462171650
46217165FL5NFU
Long Factor CertificateNetflix5x0.027883CHF1.261.29
/product/detail/index/isin/CH0449360566
44936056 
Short Factor CertificateSwiss Re8x0.070794CHF0.900.92
/product/detail/index/isin/CH0449360426
44936042FS5ADU
Short Factor CertificateAdecco5x0.122974CHF1.381.40
/product/detail/index/isin/CH0449366811
44936681 
Short Factor CertificateRoche5x0.044994CHF2.5822.602
/product/detail/index/isin/CH0449391090
44939109 
Short Factor CertificateNestlé5x0.110015CHF2.2652.275
/product/detail/index/isin/CH0449366787
44936678 
Short Factor CertificateZurich Insurance6x0.013332CHF0.850.87
/product/detail/index/isin/CH0455763554
45576355FS12MU
Short Factor CertificateSMI PR Index12x0.000884CHF0.790.80
/product/detail/index/isin/CH0455763562
45576356FS15MU
Short Factor CertificateSMI PR Index15x0.000472CHF0.340.35
/product/detail/index/isin/CH0462168961
46216896 
Short Factor CertificateBMW10x0.31116CHF2.242.33
/product/detail/index/isin/CH0449360533
44936053 
Short Factor CertificateLonza5x0.033119CHF2.192.25
/product/detail/index/isin/CH0449360384
44936038FS5LHU
Short Factor CertificateLafargeHolcim5x0.219051CHF2.102.15
/product/detail/index/isin/CH0455763570
45576357FS18SU
Short Factor CertificateSMI PR Index18x0.00021CHF0.120.13
/product/detail/index/isin/CH0449366712
44936671 
Short Factor CertificateUBS Group AG8x1.726232CHF2.4252.485
  • 10 per page
  • 20 per page
  • 50 per page
  • 100 per page

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.