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/product/detail/index/isin/CH0497804424
49780442S10ILU
Short Factor CertificateIntel10x0.886351CHF4.584.78
/product/detail/index/isin/CH0497804309
49780430S12BAU
Short Factor CertificateBASF12x0.336033CHF1.891.95
/product/detail/index/isin/CH0500695751
50069575 
Short Factor CertificateIntel10x0.911002CHF4.706.20
/product/detail/index/isin/CH0496880029
49688002 
Short Factor CertificateABB12x2.064928CHF3.0963.196
/product/detail/index/isin/CH0500695637
50069563 
Short Factor CertificateContinental12x0.360616CHF3.883.97
/product/detail/index/isin/CH0500695611
50069561 
Short Factor CertificateContinental8x0.291033CHF4.764.85
/product/detail/index/isin/CH0496880052
49688005 
Short Factor CertificateCredit Suisse12x4.238273CHF4.284.48
/product/detail/index/isin/CH0496880045
49688004 
Short Factor CertificateCredit Suisse10x3.927974CHF4.784.98
/product/detail/index/isin/CH0500695777
50069577 
Short Factor CertificateNVIDIA Corp8x0.076706CHF1.871.90
/product/detail/index/isin/CH0500695587
50069558 
Short Factor CertificateBASF12x0.289491CHF1.801.89
/product/detail/index/isin/CH0496880086
49688008 
Short Factor CertificateSwiss Re12x0.505169CHF4.214.41
/product/detail/index/isin/CH0496880060
49688006 
Short Factor CertificateLafargeHolcim12x1.024137CHF3.814.41
/product/detail/index/isin/CH0500695769
50069576 
Short Factor CertificateNVIDIA Corp5x0.078752CHF3.073.10
/product/detail/index/isin/CH0500695694
50069569 
Short Factor CertificateWirecard AG5x0.448862CHF11.2911.59
/product/detail/index/isin/CH0500695645
50069564 
Short Factor CertificateDeutsche Bank8x4.449327CHF4.394.42
/product/detail/index/isin/CH0500695728
50069572 
Short Factor CertificateApple10x0.078087CHF1.641.66
/product/detail/index/isin/CH0500695736
50069573 
Short Factor CertificateAlibaba8x0.225129CHF4.87--
/product/detail/index/isin/CH0500695595
50069559 
Short Factor CertificateBayer10x0.612379CHF4.364.51
/product/detail/index/isin/CH0500695785
50069578 
Short Factor CertificateNVIDIA Corp10x0.048046CHF0.940.96
/product/detail/index/isin/CH0496880037
49688003 
Short Factor CertificateCredit Suisse6x2.614652CHF5.375.47
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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.