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/product/detail/index/isin/CH0466873814
46687381 
Short Factor CertificateNASDAQ 100 Index20x0.000046CHF0.0250.026
/product/detail/index/isin/CH0467748122
46774812 
Short Factor CertificateVisa8x0.054466CHF1.101.15
/product/detail/index/isin/CH0462174241
46217424 
Short Factor CertificateNASDAQ 100 Index6x0.002358CHF2.8982.90
/product/detail/index/isin/CH0462174324
46217432 
Short Factor CertificateS&P 500 Index10x0.006359CHF1.751.755
/product/detail/index/isin/CH0462174266
46217426 
Short Factor CertificateNASDAQ 100 Index10x0.001172CHF0.8390.84
/product/detail/index/isin/CH0462174316
46217431 
Short Factor CertificateS&P 500 Index8x0.007997CHF2.7852.795
/product/detail/index/isin/CH0462181444
46218144 
Short Factor CertificateAlphabet Inc. C5x0.012389CHF3.083.10
/product/detail/index/isin/CH0462174357
46217435 
Short Factor CertificateDow Jones Industrial Average Index4x0.001018CHF6.6646.666
/product/detail/index/isin/CH0462177400
46217740 
Short Factor CertificateDAX5x0.001358CHF3.8063.807
/product/detail/index/isin/CH0462177418
46217741 
Short Factor CertificateDAX6x0.001296CHF3.0283.029
/product/detail/index/isin/CH0462177509
46217750 
Short Factor CertificateEuro STOXX 50 Price Index8x0.003199CHF1.5821.585
/product/detail/index/isin/CH0462555886
46255588 
Short Factor CertificateUBS Group AG12x1.224128CHF1.1791.219
/product/detail/index/isin/CH0466044531
46604453 
Short Factor CertificateDeutsche Telekom12x0.525972CHF0.790.82
/product/detail/index/isin/CH0462177392
46217739 
Short Factor CertificateDAX4x0.001346CHF4.7174.718
/product/detail/index/isin/CH0466050108
46605010 
Short Factor CertificateBASF5x0.309255CHF4.604.69
/product/detail/index/isin/CH0466044523
46604452 
Short Factor CertificateBMW12x0.248787CHF1.491.58
/product/detail/index/isin/CH0466050082
46605008 
Short Factor CertificateSAP SE5x0.036637CHF0.930.96
/product/detail/index/isin/CH0467748080
46774808 
Short Factor CertificateVisa5x0.088687CHF2.943.04
/product/detail/index/isin/CH0467748106
46774810 
Short Factor CertificateMasterCard5x0.044269CHF2.212.23
/product/detail/index/isin/CH0466050074
46605007 
Short Factor CertificatePorsche5x0.186233CHF2.602.75
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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.