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/product/detail/index/isin/CH0462174068
46217406 
Short Factor CertificateNetflix8x0.033936CHF1.281.30
/product/detail/index/isin/CH0462177475
46217747 
Short Factor CertificateEuro STOXX 50 Price Index4x0.003542CHF3.5773.58
/product/detail/index/isin/CH0462177491
46217749 
Short Factor CertificateEuro STOXX 50 Price Index6x0.003008CHF2.0162.019
/product/detail/index/isin/CH0449390969
44939096 
Long Factor CertificateABB8x6.374375CHF17.97318.273
/product/detail/index/isin/CH0462169027
46216902 
Long Factor CertificateAlibaba5x0.273165CHF11.1211.17
/product/detail/index/isin/CH0449390951
44939095 
Long Factor CertificateABB5x4.398036CHF20.08820.288
/product/detail/index/isin/CH0462167484
46216748 
Long Factor CertificateCommerzbank5x1.128129CHF1.361.37
/product/detail/index/isin/CH0462170843
46217084 
Long Factor CertificateAlibaba8x0.167212CHF4.304.33
/product/detail/index/isin/CH0449360566
44936056 
Short Factor CertificateSwiss Re8x0.039897CHF0.5350.541
/product/detail/index/isin/CH0449366811
44936681 
Short Factor CertificateRoche5x0.034204CHF2.0312.051
/product/detail/index/isin/CH0449391090
44939109 
Short Factor CertificateNestlé5x0.106272CHF2.182.19
/product/detail/index/isin/CH0462168961
46216896 
Short Factor CertificateBMW10x0.062209CHF0.500.53
/product/detail/index/isin/CH0449360533
44936053 
Short Factor CertificateLonza5x0.029666CHF1.972.01
/product/detail/index/isin/CH0449366712
44936671 
Short Factor CertificateUBS Group AG8x0.666307CHF1.0081.028
/product/detail/index/isin/CH0462174183
46217418 
Short Factor CertificateNetflix10x0.004123CHF0.170.18
/product/detail/index/isin/CH0462555845
46255584 
Long Factor CertificateLafargeHolcim12x0.979003CHF4.094.49
/product/detail/index/isin/CH0462555910
46255591 
Short Factor CertificateRoche12x0.022734CHF0.5550.565
/product/detail/index/isin/CH0462555787
46255578 
Long Factor CertificateRoche12x0.437147CHF11.00911.309
/product/detail/index/isin/CH0462555803
46255580 
Long Factor CertificateLogitech12x0.480056CHF1.7361.836
/product/detail/index/isin/CH0466044481
46604448 
Long Factor CertificateWirecard AG8x0.000019CHF0.0010.02
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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.