Bid
Ask
/product/detail/index/isin/CH0506642773
50664277 
Short Factor CertificateAdecco5x0.332499CHF4.154.20
/product/detail/index/isin/CH0506636130
50663613S5ADEU
Short Factor CertificateAdecco5x0.33016CHF4.084.13
/product/detail/index/isin/CH0507035100
50703510S5TLAU
Short Factor CertificateTesla Inc5x0.030265CHF1.931.95
/product/detail/index/isin/CH0507035118
50703511S8TLAU
Short Factor CertificateTesla Inc8x0.016801CHF0.660.67
/product/detail/index/isin/CH0508410385
50841038S8SIMU
Short Factor CertificateSiemens8x0.140033CHF2.232.24
/product/detail/index/isin/CH0506636148
50663614S5LOGU
Short Factor CertificateLogitech5x0.467548CHF4.064.11
/product/detail/index/isin/CH0509128663
50912866 
Short Factor CertificateSiemens12x0.274943CHF2.942.97
/product/detail/index/isin/CH0509125404
50912540 
Short Factor CertificateBaidu Inc10x0.562187CHF6.356.65
/product/detail/index/isin/CH0509131816
50913181S5TWTU
Short Factor CertificateTwitter Inc.5x0.676465CHF3.874.02
/product/detail/index/isin/CH0509131790
50913179S10BUU
Short Factor CertificateBaidu Inc10x0.563938CHF6.206.50
/product/detail/index/isin/CH0509125396
50912539 
Short Factor CertificateBaidu Inc8x0.444407CHF6.336.53
/product/detail/index/isin/CH0509131782
50913178S8BADU
Short Factor CertificateBaidu Inc8x0.445564CHF6.206.40
/product/detail/index/isin/CH0509131832
50913183 
Short Factor CertificateTesla Inc8x0.091156CHF3.803.85
/product/detail/index/isin/CH0509131808
50913180S8TSAU
Short Factor CertificateTesla Inc8x0.090576CHF3.513.56
/product/detail/index/isin/CH0503311661
50331166S12COU
Short Factor CertificateContinental12x0.082821CHF0.860.91
/product/detail/index/isin/CH0466042519
46604251FS12JU
Short Factor CertificateApple12x0.000032CHF0.001--
/product/detail/index/isin/CH0511283944
51128394 
Short Factor CertificateNASDAQ 100 Index21x0.007427CHF2.982.99
/product/detail/index/isin/CH0462175347
46217534FS15NU
Short Factor CertificateNASDAQ 100 Index15x0.000089CHF0.060.07
/product/detail/index/isin/CH0511312008
51131200 
Short Factor CertificateNetflix10x0.137927CHF4.124.22
/product/detail/index/isin/CH0510110023
51011002 
Short Factor CertificateABB12x1.833222CHF3.4623.512
  • 10 per page
  • 20 per page
  • 50 per page
  • 100 per page

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.