Bid
Ask
/product/detail/index/isin/CH0535918277
53591827 
Long Factor CertificateS&P 500 Index15x0.026949CHF5.245.29
/product/detail/index/isin/CH0535918269
53591826 
Long Factor CertificateNASDAQ 100 Index6x0.011512CHF17.8917.94
/product/detail/index/isin/CH0535918228
53591822 
Long Factor CertificateNASDAQ 100 Index15x0.021664CHF13.7013.80
/product/detail/index/isin/CH0535918251
53591825 
Long Factor CertificateNASDAQ 100 Index8x0.018594CHF21.7621.86
/product/detail/index/isin/CH0535924770
53592477 
Long Factor CertificateEuro STOXX 50 Price Index4x0.01531CHF13.4213.44
/product/detail/index/isin/CH0535918244
53591824 
Long Factor CertificateNASDAQ 100 Index10x0.023436CHF22.0222.12
/product/detail/index/isin/CH0535924762
53592476 
Long Factor CertificateEuro STOXX 50 Price Index8x0.046661CHF21.8221.87
/product/detail/index/isin/CH0535924911
53592491 
Long Factor CertificateMasterCard5x0.213584CHF12.27--
/product/detail/index/isin/CH0535918129
53591812 
Long Factor CertificateDow Jones Industrial Average Index10x0.004271CHF10.4010.50
/product/detail/index/isin/CH0535918319
53591831 
Long Factor CertificateS&P 500 Index6x0.026301CHF12.8312.88
/product/detail/index/isin/CH0535918111
53591811 
Long Factor CertificateDow Jones Industrial Average Index12x0.003813CHF7.757.80
/product/detail/index/isin/CH0535918301
53591830 
Long Factor CertificateS&P 500 Index8x0.037625CHF13.7713.82
/product/detail/index/isin/CH0535918285
53591828 
Long Factor CertificateS&P 500 Index12x0.040552CHF9.869.96
/product/detail/index/isin/CH0535918293
53591829 
Long Factor CertificateS&P 500 Index10x0.04171CHF12.1812.28
/product/detail/index/isin/CH0535918137
53591813 
Long Factor CertificateDow Jones Industrial Average Index8x0.004114CHF12.5312.63
/product/detail/index/isin/CH0535918053
53591805 
Short Factor CertificateDow Jones Industrial Average Index15x0.00CHF0.001--
/product/detail/index/isin/CH0535918160
53591816 
Long Factor CertificateDow Jones Industrial Average Index4x0.001716CHF10.4810.51
/product/detail/index/isin/CH0535924945
53592494 
Long Factor CertificateMcDonald's5x0.503214CHF18.0218.62
/product/detail/index/isin/CH0535918517
53591851 
Long Factor CertificateBaidu Inc5x0.435812CHF8.61--
/product/detail/index/isin/CH0535924846
53592484 
Long Factor CertificateIntel5x1.048474CHF12.30--
  • 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.