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/product/detail/index/isin/CH0489597309
48959730L8AMZU
Long Factor CertificateAmazon.com8x0.004686CHF0.991.01
/product/detail/index/isin/CH0489597358
48959735L8APPU
Long Factor CertificateApple8x0.725882CHF19.6119.81
/product/detail/index/isin/CH0484378515
48437851L8BAIU
Long Factor CertificateBaidu Inc8x0.09256CHF1.251.35
/product/detail/index/isin/CH0489597416
48959741L8BARU
Long Factor CertificateBarrick Gold8x0.686937CHF1.441.54
/product/detail/index/isin/CH0466043236
46604323L8BASU
Long Factor CertificateBASF8x0.46297CHF4.374.40
/product/detail/index/isin/CH0489589843
48958984L8BAYU
Long Factor CertificateBayer8x0.77911CHF7.237.33
/product/detail/index/isin/CH0500221343
50022134L8BIDU
Long Factor CertificateBaidu Inc8x0.612579CHF8.318.91
/product/detail/index/isin/CH0503311646
50331164L8CBKU
Long Factor CertificateCommerzbank8x6.800328CHF4.985.28
/product/detail/index/isin/CH0493282120
49328212L8COBU
Long Factor CertificateCommerzbank8x1.360704CHF1.001.05
/product/detail/index/isin/CH0493282138
49328213L8COTU
Long Factor CertificateContinental8x0.134083CHF2.182.23
/product/detail/index/isin/CH0466043186
46604318L8DAIU
Long Factor CertificateDaimler8x0.261074CHF1.771.82
/product/detail/index/isin/CH0489589884
48958988L8DBKU
Long Factor CertificateDeutsche Bank8x0.80667CHF0.770.82
/product/detail/index/isin/CH0507837638
50783763L8DEBU
Long Factor CertificateDeutsche Bank8x4.187216CHF4.014.21
/product/detail/index/isin/CH0489586716
48958671L8DJIU
Long Factor CertificateDow Jones Industrial Average Index8x0.001481CHF5.125.14
/product/detail/index/isin/CH0489589926
48958992L8DTMU
Long Factor CertificateDeutsche Telekom8x1.714163CHF3.503.60
/product/detail/index/isin/CH0489583978
48958397L8DXXU
Long Factor CertificateDAX8x0.003392CHF6.056.10
/product/detail/index/isin/CH0489597432
48959743L8FABU
Long Factor CertificateFacebook8x0.095542CHF2.342.36
/product/detail/index/isin/CH0486384768
48638476L8LHXU
Long Factor CertificateLafargeHolcim8x0.859016CHF5.996.19
/product/detail/index/isin/CH0484378499
48437849L8LUFU
Long Factor CertificateDeutsche Lufthansa8x3.752984CHF8.408.90
/product/detail/index/isin/CH0489597465
48959746L8MASU
Long Factor CertificateMasterCard8x0.085435CHF3.023.12
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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.