Bid
Ask
/product/detail/index/isin/CH0489597465
48959746L8MASU
Long Factor CertificateMasterCard8x0.088785CHF3.413.46
/product/detail/index/isin/CH0496921625
49692162L8MCDU
Long Factor CertificateMcDonald's8x0.067125CHF1.59--
/product/detail/index/isin/CH0489597499
48959749L8MFTU
Long Factor CertificateMicrosoft8x0.347771CHF6.836.98
/product/detail/index/isin/CH0484378523
48437852L8MSTU
Long Factor CertificateMicrosoft8x0.793192CHF15.5915.89
/product/detail/index/isin/CH0489586773
48958677L8NASU
Long Factor CertificateNASDAQ 100 Index8x0.005489CHF5.755.76
/product/detail/index/isin/CH0478937946
47893794L8NESU
Long Factor CertificateNestlé8x0.771371CHF9.8859.985
/product/detail/index/isin/CH0493876152
49387615L8NETU
Long Factor CertificateNetflix8x0.029111CHF1.07--
/product/detail/index/isin/CH0486384818
48638481L8NEXU
Long Factor CertificateNestlé8x0.329281CHF4.234.26
/product/detail/index/isin/CH0500221368
50022136L8NFXU
Long Factor CertificateNetflix8x0.262234CHF9.64--
/product/detail/index/isin/CH0486384834
48638483L8NOXU
Long Factor CertificateNovartis8x0.463278CHF5.335.38
/product/detail/index/isin/CH0466043202
46604320L8PORU
Long Factor CertificatePorsche8x1.16823CHF10.8211.02
/product/detail/index/isin/CH0486384867
48638486L8ROXU
Long Factor CertificateRoche8x0.311145CHF11.7911.89
/product/detail/index/isin/CH0489593761
48959376L8SAPU
Long Factor CertificateSAP SE8x0.148352CHF2.492.52
/product/detail/index/isin/CH0500221327
50022132L8SASU
Long Factor CertificateSAP SE8x0.705361CHF11.8211.96
/product/detail/index/isin/CH0508410377
50841037L8SIMU
Long Factor CertificateSiemens8x0.552384CHF8.908.91
/product/detail/index/isin/CH0486384909
48638490L8SLXU
Long Factor CertificateSwiss Life8x0.063139CHF3.843.89
/product/detail/index/isin/CH0480376653
48037665L8SMIU
Long Factor CertificateSMI PR Index8x0.009525CHF12.4012.44
/product/detail/index/isin/CH0489586849
48958684L8SPXU
Long Factor CertificateS&P 500 Index8x0.015053CHF5.805.81
/product/detail/index/isin/CH0496921575
49692157L8STBU
Long Factor CertificateStarbucks8x0.166365CHF1.781.79
/product/detail/index/isin/CH0480382172
48038217L8SWRU
Long Factor CertificateSwiss Re8x1.004913CHF13.5113.61
  • 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.