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/product/detail/index/isin/CH0449366712
44936671 
Short Factor CertificateUBS Group AG8x1.369628CHF1.8081.868
/product/detail/index/isin/CH0462168904
46216890 
Short Factor CertificateDeutsche Telekom8x0.684205CHF1.781.79
/product/detail/index/isin/CH0462174183
46217418 
Short Factor CertificateNetflix10x0.024455CHF0.53--
/product/detail/index/isin/CH0462168870
46216887 
Short Factor CertificateVolkswagen VZ8x0.022378CHF0.500.51
/product/detail/index/isin/CH0462555829
46255582 
Long Factor CertificateSwiss Re12x1.303873CHF10.38310.783
/product/detail/index/isin/CH0462555845
46255584 
Long Factor CertificateLafargeHolcim12x0.466827CHF1.812.01
/product/detail/index/isin/CH0462555910
46255591 
Short Factor CertificateRoche12x0.046129CHF1.0891.109
/product/detail/index/isin/CH0462555787
46255578 
Long Factor CertificateRoche12x0.326771CHF7.8548.054
/product/detail/index/isin/CH0462555803
46255580 
Long Factor CertificateLogitech12x0.248417CHF0.7870.847
/product/detail/index/isin/CH0466044481
46604448 
Long Factor CertificateWirecard AG8x0.000061CHF0.0010.02
/product/detail/index/isin/CH0466044259
46604425 
Long Factor CertificateVolkswagen VZ12x0.333001CHF5.485.58
/product/detail/index/isin/CH0466049837
46604983 
Long Factor CertificateFacebook12x0.051103CHF0.91--
/product/detail/index/isin/CH0466044416
46604441 
Long Factor CertificateDaimler5x0.507847CHF5.945.99
/product/detail/index/isin/CH0466050025
46605002 
Long Factor CertificatePorsche8x1.004822CHF8.758.95
/product/detail/index/isin/CH0466050058
46605005 
Long Factor CertificateBASF8x0.458726CHF4.434.48
/product/detail/index/isin/CH0466044408
46604440 
Long Factor CertificateWirecard AG5x0.010076CHF0.250.26
/product/detail/index/isin/CH0466044432
46604443 
Long Factor CertificatePorsche5x0.847922CHF11.9812.18
/product/detail/index/isin/CH0466050181
46605018 
Short Factor CertificateBASF8x0.218332CHF1.911.93
/product/detail/index/isin/CH0466050132
46605013 
Short Factor CertificateDaimler8x0.278026CHF1.661.69
/product/detail/index/isin/CH0466050090
46605009 
Short Factor Certificateadidas5x0.017811CHF1.211.22
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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.