Bid
Ask
/product/detail/index/isin/CH0449366951
44936695FL8ABU
Long Factor CertificateABB8x1.504131CHF3.5133.543
/product/detail/index/isin/CH0449366944
44936694FL5ABU
Long Factor CertificateABB5x1.861175CHF6.936.96
/product/detail/index/isin/CH0449390969
44939096 
Long Factor CertificateABB8x1.504131CHF3.4983.558
/product/detail/index/isin/CH0449390951
44939095 
Long Factor CertificateABB5x1.861175CHF6.9156.975
/product/detail/index/isin/CH0462561231
46256123FS12AU
Short Factor CertificateABB12x0.784386CHF1.1721.192
/product/detail/index/isin/CH0462555696
46255569FL12AU
Long Factor CertificateABB12x0.495107CHF0.7740.784
/product/detail/index/isin/CH0462555837
46255583 
Long Factor CertificateABB12x0.495107CHF0.7690.789
/product/detail/index/isin/CH0449360376
44936037FS8ABU
Short Factor CertificateABB8x0.898477CHF2.0352.055
/product/detail/index/isin/CH0449360368
44936036FS5ABU
Short Factor CertificateABB5x1.353511CHF4.9394.969
/product/detail/index/isin/CH0449360574
44936057 
Short Factor CertificateABB5x1.353511CHF4.9264.986
/product/detail/index/isin/CH0449360582
44936058 
Short Factor CertificateABB8x0.898477CHF2.0232.063
/product/detail/index/isin/CH0462555969
46255596 
Short Factor CertificateABB12x0.784386CHF1.1621.202
/product/detail/index/isin/CH0491168941
49116894S12ABU
Short Factor CertificateABB12x6.868725CHF10.2610.41
/product/detail/index/isin/CH0496880029
49688002 
Short Factor CertificateABB12x6.952851CHF10.3910.54
/product/detail/index/isin/CH0502940213
50294021 
Long Factor CertificateABB12x4.272158CHF6.6836.783
/product/detail/index/isin/CH0490028591
49002859L12ABU
Long Factor CertificateABB12x3.259146CHF5.1125.162
/product/detail/index/isin/CH0449391074
44939107 
Short Factor CertificateAdecco5x0.133236CHF1.4561.516
/product/detail/index/isin/CH0449360426
44936042FS5ADU
Short Factor CertificateAdecco5x0.133236CHF1.461.49
/product/detail/index/isin/CH0462555860
46255586 
Long Factor CertificateAdecco12x0.179611CHF0.7910.851
/product/detail/index/isin/CH0478937961
47893796L8ADEU
Long Factor CertificateAdecco8x0.755125CHF5.135.28
  • 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.