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/product/detail/index/isin/CH0486384966
48638496L5ZUXU
Long Factor CertificateZurich Insurance5x0.119122CHF9.429.52
/product/detail/index/isin/CH0486384743
48638474L6CEXU
Long Factor CertificateCredit Suisse6x2.22996CHF4.764.81
/product/detail/index/isin/CH0489586732
48958673L6DJIU
Long Factor CertificateDow Jones Industrial Average Index6x0.001162CHF5.385.40
/product/detail/index/isin/CH0489583994
48958399L6DXXU
Long Factor CertificateDAX6x0.002554CHF6.136.18
/product/detail/index/isin/CH0489586799
48958679L6NASU
Long Factor CertificateNASDAQ 100 Index6x0.004127CHF5.715.72
/product/detail/index/isin/CH0486384875
48638487L6ROXU
Long Factor CertificateRoche6x0.215215CHF10.8110.86
/product/detail/index/isin/CH0478937920
47893792L6SMIU
Long Factor CertificateSMI PR Index6x0.008389CHF14.6414.70
/product/detail/index/isin/CH0489597564
48959756L6SPXU
Long Factor CertificateS&P 500 Index6x0.011017CHF5.775.78
/product/detail/index/isin/CH0512541902
51254190L6SSMU
Long Factor CertificateSMI PR Index6x0.002743CHF4.794.80
/product/detail/index/isin/CH0486384958
48638495L6ZUXU
Long Factor CertificateZurich Insurance6x0.157967CHF10.3910.54
/product/detail/index/isin/CH0508410393
50841039L8AAPU
Long Factor CertificateApple8x0.204074CHF6.606.63
/product/detail/index/isin/CH0478937961
47893796L8ADEU
Long Factor CertificateAdecco8x1.549721CHF11.9412.24
/product/detail/index/isin/CH0489589819
48958981L8ADIU
Long Factor Certificateadidas8x0.049427CHF1.881.89
/product/detail/index/isin/CH0512543445
51254344L8AMSU
Long Factor CertificateAMS8x0.896223CHF5.435.63
/product/detail/index/isin/CH0493876145
49387614L8AMXU
Long Factor CertificateAMD8x1.048421CHF5.27--
/product/detail/index/isin/CH0489597309
48959730L8AMZU
Long Factor CertificateAmazon.com8x0.004686CHF0.991.00
/product/detail/index/isin/CH0489597358
48959735L8APPU
Long Factor CertificateApple8x0.725882CHF19.6119.81
/product/detail/index/isin/CH0484378515
48437851L8BAIU
Long Factor CertificateBaidu Inc8x0.09256CHF1.331.38
/product/detail/index/isin/CH0489597416
48959741L8BARU
Long Factor CertificateBarrick Gold8x0.686937CHF1.431.53
/product/detail/index/isin/CH0466043236
46604323L8BASU
Long Factor CertificateBASF8x0.46297CHF4.324.34
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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.