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/product/detail/index/isin/CH0478940056
47894005 
Long Factor CertificateAdecco8x0.940321CHF6.607.00
/product/detail/index/isin/CH0480376547
48037654 
Long Factor CertificateAdecco5x0.647351CHF7.337.63
/product/detail/index/isin/CH0486379966
48637996 
Short Factor CertificateAdecco8x0.22233CHF1.541.64
/product/detail/index/isin/CH0486380295
48638029S8ADXU
Short Factor CertificateAdecco8x0.231947CHF1.641.69
/product/detail/index/isin/CH0490032445
49003244 
Long Factor CertificateAdecco12x1.628663CHF7.568.16
/product/detail/index/isin/CH0491167646
49116764 
Short Factor CertificateAdecco12x0.202026CHF0.911.01
/product/detail/index/isin/CH0491167711
49116771S12ADU
Short Factor CertificateAdecco12x0.23714CHF1.111.16
/product/detail/index/isin/CH0490028609
49002860L12ACU
Long Factor CertificateAdecco12x1.525509CHF7.187.48
/product/detail/index/isin/CH0480382115
48038211L5ADEU
Long Factor CertificateAdecco5x0.641916CHF7.327.47
/product/detail/index/isin/CH0501940545
50194054 
Short Factor CertificateAdecco12x1.049887CHF4.945.14
/product/detail/index/isin/CH0466050090
46605009 
Short Factor Certificateadidas5x0.017811CHF1.171.27
/product/detail/index/isin/CH0480745246
48074524L12ASU
Long Factor Certificateadidas12x0.035303CHF0.660.67
/product/detail/index/isin/CH0489589835
48958983L5ADIU
Long Factor Certificateadidas5x0.064272CHF3.523.54
/product/detail/index/isin/CH0489593837
48959383S12AIU
Short Factor Certificateadidas12x0.030987CHF1.001.01
/product/detail/index/isin/CH0489593829
48959382S8ADSU
Short Factor Certificateadidas8x0.053475CHF2.422.43
/product/detail/index/isin/CH0489590379
48959037 
Long Factor Certificateadidas5x0.06841CHF3.743.80
/product/detail/index/isin/CH0489590452
48959045 
Short Factor Certificateadidas8x0.058953CHF2.632.69
/product/detail/index/isin/CH0489590387
48959038 
Long Factor Certificateadidas8x0.071993CHF2.272.33
/product/detail/index/isin/CH0489589819
48958981L8ADIU
Long Factor Certificateadidas8x0.065303CHF2.072.09
/product/detail/index/isin/CH0496909109
49690910L12AIU
Long Factor Certificateadidas12x0.216923CHF4.084.13
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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.