Bid
Ask
/product/detail/index/isin/CH0513972726
51397272L10WAU
Long Factor CertificateWirecard AG10x1.253106CHF16.7217.22
/product/detail/index/isin/CH0507837646
50783764L10WCU
Long Factor CertificateWirecard AG10x0.120495CHF1.611.66
/product/detail/index/isin/CH0500693673
50069367L10ZNU
Long Factor CertificateZalando10x0.731384CHF3.543.67
/product/detail/index/isin/CH0518173965
51817396L10ZUU
Long Factor CertificateZurich Insurance10x0.129896CHF5.285.43
/product/detail/index/isin/CH0486384982
48638498L10ZXU
Long Factor CertificateZurich Insurance10x0.433651CHF17.6318.13
/product/detail/index/isin/CH0490028609
49002860L12ACU
Long Factor CertificateAdecco12x1.869674CHF9.369.66
/product/detail/index/isin/CH0512541845
51254184L12ADU
Long Factor CertificateAdecco12x0.559693CHF2.802.90
/product/detail/index/isin/CH0496909109
49690910L12AIU
Long Factor Certificateadidas12x0.311889CHF9.099.19
/product/detail/index/isin/CH0489597374
48959737L12APU
Long Factor CertificateApple12x4.455996CHF118.90119.40
/product/detail/index/isin/CH0480745246
48074524L12ASU
Long Factor Certificateadidas12x0.045161CHF1.401.41
/product/detail/index/isin/CH0493876137
49387613L12AZU
Long Factor CertificateAmazon.com12x0.016868CHF2.48--
/product/detail/index/isin/CH0497804291
49780429L12BFU
Long Factor CertificateBASF12x0.349235CHF1.971.99
/product/detail/index/isin/CH0509135056
50913505L12BMU
Long Factor CertificateBMW12x0.286614CHF1.751.78
/product/detail/index/isin/CH0471859923
47185992L12BRU
Long Factor CertificateBayer12x0.647863CHF4.244.34
/product/detail/index/isin/CH0493282112
49328211L12BWU
Long Factor CertificateBMW12x1.357106CHF8.278.42
/product/detail/index/isin/CH0503321751
50332175L12BYU
Long Factor CertificateBayer12x4.184749CHF32.0532.55
/product/detail/index/isin/CH0503311653
50331165L12CMU
Long Factor CertificateCommerzbank12x1.469933CHF1.451.65
/product/detail/index/isin/CH0496909125
49690912L12COU
Long Factor CertificateContinental12x0.101757CHF1.781.88
/product/detail/index/isin/CH0499190814
49919081L12CSU
Long Factor CertificateCredit Suisse12x5.788441CHF6.406.55
/product/detail/index/isin/CH0519079856
51907985L12DAU
Long Factor CertificateDaimler12x0.835966CHF3.143.34
  • 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.