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/product/detail/index/isin/CH0497183787
49718378 
Long Factor CertificateMicrosoft10x0.605901CHF9.249.34
/product/detail/index/isin/CH0497183894
49718389 
Long Factor CertificateMcDonald's10x0.046043CHF0.860.88
/product/detail/index/isin/CH0497183811
49718381 
Long Factor CertificateVisa10x0.17786CHF3.473.67
/product/detail/index/isin/CH0497172459
49717245 
Long Factor CertificateBASF10x2.181185CHF16.3116.91
/product/detail/index/isin/CH0497183845
49718384 
Long Factor CertificateStarbucks10x0.091152CHF0.710.73
/product/detail/index/isin/CH0497183738
49718373 
Long Factor CertificateAMD8x3.988286CHF24.0324.33
/product/detail/index/isin/CH0497183837
49718383 
Long Factor CertificateStarbucks8x0.115485CHF1.141.16
/product/detail/index/isin/CH0497172509
49717250 
Long Factor CertificateContinental12x0.537948CHF6.066.21
/product/detail/index/isin/CH0497172491
49717249 
Long Factor CertificateContinental10x0.530734CHF7.177.32
/product/detail/index/isin/CH0497172434
49717243 
Long Factor Certificateadidas10x0.094516CHF2.792.88
/product/detail/index/isin/CH0497183779
49718377 
Long Factor CertificateMasterCard10x0.089838CHF2.812.86
/product/detail/index/isin/CH0497183753
49718375 
Long Factor CertificateAlibaba10x0.224078CHF4.004.05
/product/detail/index/isin/CH0497183878
49718387 
Long Factor CertificateMcDonald's5x0.06481CHF2.462.49
/product/detail/index/isin/CH0497183746
49718374 
Long Factor CertificateAmazon.com10x0.018066CHF3.233.26
/product/detail/index/isin/CH0497183795
49718379 
Long Factor CertificateNetflix10x0.051538CHF1.551.58
/product/detail/index/isin/CH0497172442
49717244 
Long Factor Certificateadidas12x0.075745CHF1.861.92
/product/detail/index/isin/CH0497183761
49718376 
Long Factor CertificateBaidu Inc10x0.262994CHF2.893.04
/product/detail/index/isin/CH0497183886
49718388 
Long Factor CertificateMcDonald's8x0.058502CHF1.371.40
/product/detail/index/isin/CH0497172517
49717251 
Long Factor CertificateDeutsche Bank12x0.944082CHF0.590.62
/product/detail/index/isin/CH0497183829
49718382 
Long Factor CertificateStarbucks5x0.132518CHF2.132.16
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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.