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/product/detail/index/isin/CH0497172434
49717243 
Long Factor Certificateadidas10x0.183301CHF5.625.77
/product/detail/index/isin/CH0497178662
49717866 
Short Factor Certificateadidas10x0.05412CHF1.681.74
/product/detail/index/isin/CH0497172442
49717244 
Long Factor Certificateadidas12x0.195212CHF4.995.14
/product/detail/index/isin/CH0466047294
46604729S5ADIU
Short Factor Certificateadidas5x0.017388CHF1.091.10
/product/detail/index/isin/CH0505520301
50552030 
Short Factor Certificateadidas5x0.083791CHF5.125.21
/product/detail/index/isin/CH0505529690
50552969S12ASU
Short Factor Certificateadidas12x0.213527CHF5.665.71
/product/detail/index/isin/CH0462171601
46217160FL5BAU
Long Factor CertificateAlibaba5x0.179079CHF5.435.53
/product/detail/index/isin/CH0462169027
46216902 
Long Factor CertificateAlibaba5x0.172644CHF4.744.77
/product/detail/index/isin/CH0462170843
46217084 
Long Factor CertificateAlibaba8x0.084242CHF1.241.26
/product/detail/index/isin/CH0462171965
46217196FS8BAU
Short Factor CertificateAlibaba8x0.029775CHF0.81--
/product/detail/index/isin/CH0462171726
46217172FL8BAU
Long Factor CertificateAlibaba8x0.089537CHF1.561.61
/product/detail/index/isin/CH0462171080
46217108 
Short Factor CertificateAlibaba5x0.089026CHF3.813.83
/product/detail/index/isin/CH0462171841
46217184FS5BAU
Short Factor CertificateAlibaba5x0.085565CHF3.383.43
/product/detail/index/isin/CH0496915866
49691586L10BBU
Long Factor CertificateAlibaba10x0.262798CHF3.33--
/product/detail/index/isin/CH0496921757
49692175S10BBU
Short Factor CertificateAlibaba10x0.067218CHF1.46--
/product/detail/index/isin/CH0497183555
49718355 
Short Factor CertificateAlibaba10x0.085274CHF2.122.14
/product/detail/index/isin/CH0497183753
49718375 
Long Factor CertificateAlibaba10x0.210039CHF2.042.09
/product/detail/index/isin/CH0497804408
49780440S8BABU
Short Factor CertificateAlibaba8x0.159142CHF4.144.24
/product/detail/index/isin/CH0500695736
50069573 
Short Factor CertificateAlibaba8x0.173179CHF5.075.10
/product/detail/index/isin/CH0466042725
46604272FL12GU
Long Factor CertificateAlibaba12x0.002023CHF0.070.08
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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.