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/product/detail/index/isin/CH0509135072
50913507S8DAMU
Short Factor CertificateDaimler8x1.137441CHF7.797.99
/product/detail/index/isin/CH0497804333
49780433S8DBKU
Short Factor CertificateDeutsche Bank8x6.207107CHF5.395.69
/product/detail/index/isin/CH0489597192
48959719S8FACU
Short Factor CertificateFacebook8x0.095849CHF2.402.42
/product/detail/index/isin/CH0498656054
49865605S8GOOU
Short Factor CertificateAlphabet Inc. C8x0.009177CHF1.521.53
/product/detail/index/isin/CH0507837661
50783766S8INTU
Short Factor CertificateIntel8x0.607238CHF4.154.30
/product/detail/index/isin/CH0465052550
46505255S8LAHU
Short Factor CertificateLafargeHolcim8x0.301282CHF1.891.99
/product/detail/index/isin/CH0506056503
50605650S8LHAU
Short Factor CertificateDeutsche Lufthansa8x0.932852CHF2.122.22
/product/detail/index/isin/CH0506636155
50663615S8LOGU
Short Factor CertificateLogitech8x0.625346CHF3.383.48
/product/detail/index/isin/CH0486380311
48638031S8LOXU
Short Factor CertificateLogitech8x0.119129CHF0.640.66
/product/detail/index/isin/CH0486380329
48638032S8LXNU
Short Factor CertificateLonza8x0.038467CHF1.621.65
/product/detail/index/isin/CH0496921807
49692180S8MASU
Short Factor CertificateMasterCard8x0.057372CHF2.03--
/product/detail/index/isin/CH0496921922
49692192S8MCDU
Short Factor CertificateMcDonald's8x0.319776CHF7.59--
/product/detail/index/isin/CH0496921823
49692182S8MICU
Short Factor CertificateMicrosoft8x0.081161CHF1.56--
/product/detail/index/isin/CH0496874568
49687456S8NESU
Short Factor CertificateNestlé8x0.404313CHF5.225.27
/product/detail/index/isin/CH0469522228
46952222S8NOVU
Short Factor CertificateNovartis8x0.165182CHF1.851.88
/product/detail/index/isin/CH0508410443
50841044S8NVAU
Short Factor CertificateNVIDIA Corp8x0.1367CHF3.453.55
/product/detail/index/isin/CH0497804440
49780444S8NVDU
Short Factor CertificateNVIDIA Corp8x0.024197CHF0.610.62
/product/detail/index/isin/CH0505529732
50552973S8PSHU
Short Factor CertificatePorsche8x0.294054CHF2.762.81
/product/detail/index/isin/CH0502940239
50294023S8ROGU
Short Factor CertificateRoche8x0.071134CHF2.752.77
/product/detail/index/isin/CH0509135106
50913510S8SAPU
Short Factor CertificateSAP SE8x0.272604CHF4.574.62
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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.