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/product/detail/index/isin/CH0449366951
44936695FL8ABU
Long Factor CertificateABB8x6.317607CHF16.22716.377
/product/detail/index/isin/CH0449366514
44936651 
Long Factor CertificateThe Swatch Grp Bearer6x0.039079CHF1.471.53
/product/detail/index/isin/CH0462168649
46216864 
Long Factor CertificateBayer5x0.466644CHF7.167.31
/product/detail/index/isin/CH0462175677
46217567FL5CBU
Long Factor CertificateCommerzbank5x1.868378CHF2.482.58
/product/detail/index/isin/CH0462175685
46217568FL5BMU
Long Factor CertificateBMW5x0.272726CHF3.743.77
/product/detail/index/isin/CH0462181097
46218109FL8DBU
Long Factor CertificateDeutsche Bank8x0.754281CHF0.910.96
/product/detail/index/isin/CH0462175669
46217566FL5VWU
Long Factor CertificateVolkswagen VZ5x0.299145CHF10.5810.64
/product/detail/index/isin/CH0449366910
44936691FL8LOU
Long Factor CertificateLonza8x0.226684CHF11.5211.72
/product/detail/index/isin/CH0462181154
46218115FL8BYU
Long Factor CertificateBayer8x0.106241CHF1.091.10
/product/detail/index/isin/CH0462181105
46218110FL8VWU
Long Factor CertificateVolkswagen VZ8x0.254233CHF5.645.69
/product/detail/index/isin/CH0462555613
46255561FL12BU
Long Factor CertificateUBS Group AG12x1.339132CHF0.930.96
/product/detail/index/isin/CH0478939975
47893997 
Long Factor CertificateTemenos5x0.038456CHF1.2261.266
/product/detail/index/isin/CH0478940056
47894005 
Long Factor CertificateAdecco8x0.816944CHF5.665.96
/product/detail/index/isin/CH0486380204
48638020 
Long Factor CertificateNestlé12x0.484987CHF4.164.21
/product/detail/index/isin/CH0486380196
48638019 
Long Factor CertificateNestlé8x0.429671CHF5.645.69
/product/detail/index/isin/CH0486384644
48638464 
Long Factor CertificateSwiss Re8x0.412555CHF4.144.26
/product/detail/index/isin/CH0486380071
48638007 
Long Factor CertificateSMI PR Index4x0.002864CHF7.827.84
/product/detail/index/isin/CH0486380170
48638017 
Long Factor CertificateLonza12x0.20782CHF6.857.15
/product/detail/index/isin/CH0486380089
48638008 
Long Factor CertificateSMI PR Index6x0.005186CHF9.349.40
/product/detail/index/isin/CH0486380121
48638012 
Long Factor CertificateCredit Suisse5x2.174206CHF5.435.53
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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.