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/product/detail/index/isin/CH0449359972
44935997OCBNHU
Long Factor CertificateUBS Group AG5x3.059018CHF7.477.52
/product/detail/index/isin/CH0449359956
44935995OCBRGU
Long Factor CertificateThe Swatch Grp Bearer8x0.043112CHF1.491.52
/product/detail/index/isin/CH0449360038
44936003ODASTU
Long Factor CertificateCredit Suisse8x5.237882CHF8.898.99
/product/detail/index/isin/CH0449359998
44935999ODBSHU
Long Factor CertificateUBS Group AG8x2.196012CHF3.393.44
/product/detail/index/isin/CH0449360004
44936000ODBSJU
Long Factor CertificateUBS Group AG10x1.236681CHF1.541.56
/product/detail/index/isin/CH0449360046
44936004OFIAEU
Long Factor CertificateCredit Suisse10x3.193955CHF4.394.44
/product/detail/index/isin/CH0449359899
44935989OJIUUU
Short Factor CertificateRoche5x0.03118CHF1.951.96
/product/detail/index/isin/CH0449359907
44935990OJIUVU
Short Factor CertificateRoche6x0.024878CHF1.301.31
/product/detail/index/isin/CH0449359816
44935981OJIWLU
Short Factor CertificateCredit Suisse5x0.499813CHF1.251.26
/product/detail/index/isin/CH0449359824
44935982OJIWMU
Short Factor CertificateCredit Suisse6x0.327822CHF0.680.69
/product/detail/index/isin/CH0449359832
44935983OJIWOU
Short Factor CertificateCredit Suisse8x0.109168CHF0.160.17
/product/detail/index/isin/CH0505520103
50552010S10AAU
Short Factor CertificateApple10x0.035791CHF0.950.97
/product/detail/index/isin/CH0507837653
50783765S10ALU
Short Factor CertificateAlibaba10x0.053264CHF1.071.13
/product/detail/index/isin/CH0496921740
49692174S10AMU
Short Factor CertificateAmazon.com10x0.021787CHF3.75--
/product/detail/index/isin/CH0496921724
49692172S10BAU
Short Factor CertificateBarrick Gold10x2.019641CHF2.98--
/product/detail/index/isin/CH0496921757
49692175S10BBU
Short Factor CertificateAlibaba10x0.008902CHF0.25--
/product/detail/index/isin/CH0508410427
50841042S10BDU
Short Factor CertificateBaidu Inc10x0.075971CHF0.840.90
/product/detail/index/isin/CH0509131790
50913179S10BUU
Short Factor CertificateBaidu Inc10x0.563938CHF6.196.79
/product/detail/index/isin/CH0491168966
49116896S10CRU
Short Factor CertificateCredit Suisse10x1.618055CHF1.951.98
/product/detail/index/isin/CH0465052568
46505256S10CSU
Short Factor CertificateCredit Suisse10x0.195019CHF0.250.26
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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.