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/product/detail/index/isin/CH0518174005
51817400 
Long Factor CertificateSMI PR Index10x0.000091CHF0.060.10
/product/detail/index/isin/CH0497183670
49718367 
Short Factor CertificateMcDonald's5x0.019451CHF0.640.65
/product/detail/index/isin/CH0536908038
53690803 
Long Factor CertificateSilver oz./USD4x3.798742CHF15.92915.979
/product/detail/index/isin/CH0536908061
53690806 
Long Factor CertificateSilver oz./USD10x31.837491CHF52.94453.444
/product/detail/index/isin/CH0537670009
53767000 
Long Factor CertificateTesla Inc5x0.093455CHF14.8715.07
/product/detail/index/isin/CH0537669944
53766994 
Long Factor CertificateDaimler5x0.640225CHF4.915.06
/product/detail/index/isin/CH0537669902
53766990 
Long Factor CertificateEuro STOXX 50 Price Index10x0.017007CHF5.715.73
/product/detail/index/isin/CH0537669894
53766989 
Long Factor CertificateDAX15x0.005419CHF4.854.86
/product/detail/index/isin/CH0537669878
53766987 
Long Factor CertificateDAX10x0.007902CHF10.3410.36
/product/detail/index/isin/CH0537669928
53766992 
Long Factor CertificateEuro STOXX 50 Price Index15x0.008903CHF2.022.03
/product/detail/index/isin/CH0537669910
53766991 
Long Factor CertificateEuro STOXX 50 Price Index12x0.015067CHF4.244.26
/product/detail/index/isin/CH0537669951
53766995 
Long Factor CertificatePorsche5x0.830313CHF8.739.33
/product/detail/index/isin/CH0537669860
53766986 
Long Factor CertificateDAX8x0.007089CHF11.4811.50
/product/detail/index/isin/CH0537669084
53766908 
Short Factor CertificateDow Jones Industrial Average Index15x0.000001CHF0.001--
/product/detail/index/isin/CH0537669167
53766916 
Long Factor CertificateApple5x0.236974CHF14.8714.92
/product/detail/index/isin/CH0537669027
53766902 
Short Factor CertificateEuro STOXX 50 Price Index10x0.001207CHF0.370.38
/product/detail/index/isin/CH0533638778
53363877 
Long Factor CertificateZurich Insurance5x0.109477CHF7.047.44
/product/detail/index/isin/CH0533638760
53363876 
Long Factor CertificateZurich Insurance6x0.116558CHF6.346.74
/product/detail/index/isin/CH0520486876
52048687 
Short Factor CertificateTesla Inc5x0.00CHF0.001--
/product/detail/index/isin/CH0527363920
52736392 
Short Factor CertificateBarrick Gold5x0.034734CHF0.190.20
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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.