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/product/detail/index/isin/CH0486380030
48638003 
Short Factor CertificateSwiss Life12x0.07168CHF2.913.01
/product/detail/index/isin/CH0486384610
48638461 
Long Factor CertificateSwiss Life8x0.068838CHF4.134.23
/product/detail/index/isin/CH0486384628
48638462 
Long Factor CertificateSwiss Life12x0.081194CHF3.173.37
/product/detail/index/isin/CH0486384917
48638491L5SLXU
Long Factor CertificateSwiss Life5x0.047899CHF4.664.71
/product/detail/index/isin/CH0486380360
48638036S12XLU
Short Factor CertificateSwiss Life12x0.064901CHF2.632.68
/product/detail/index/isin/CH0486384909
48638490L8SLXU
Long Factor CertificateSwiss Life8x0.068574CHF4.164.21
/product/detail/index/isin/CH0486380352
48638035S8SLXU
Short Factor CertificateSwiss Life8x0.059003CHF3.593.64
/product/detail/index/isin/CH0486384891
48638489L12XSU
Long Factor CertificateSwiss Life12x0.08093CHF3.243.34
/product/detail/index/isin/CH0480382149
48038214L5SWLU
Long Factor CertificateSwiss Life5x0.107946CHF10.5010.60
/product/detail/index/isin/CH0449360343
44936034FS5SRU
Short Factor CertificateSwiss Re5x0.120992CHF2.502.52
/product/detail/index/isin/CH0449360566
44936056 
Short Factor CertificateSwiss Re8x0.066992CHF0.8630.883
/product/detail/index/isin/CH0462555829
46255582 
Long Factor CertificateSwiss Re12x1.30444CHF10.90511.305
/product/detail/index/isin/CH0462561223
46256122FS12IU
Short Factor CertificateSwiss Re12x0.081835CHF0.700.71
/product/detail/index/isin/CH0462555688
46255568FL12IU
Long Factor CertificateSwiss Re12x1.30444CHF11.1011.30
/product/detail/index/isin/CH0449360350
44936035FS8SRU
Short Factor CertificateSwiss Re8x0.066992CHF0.860.87
/product/detail/index/isin/CH0449360558
44936055 
Short Factor CertificateSwiss Re5x0.120992CHF2.4952.535
/product/detail/index/isin/CH0462555951
46255595 
Short Factor CertificateSwiss Re12x0.081835CHF0.7040.724
/product/detail/index/isin/CH0486384644
48638464 
Long Factor CertificateSwiss Re8x0.539788CHF6.827.02
/product/detail/index/isin/CH0486384636
48638463 
Long Factor CertificateSwiss Re5x0.313836CHF6.416.51
/product/detail/index/isin/CH0486384925
48638492L5SWXU
Long Factor CertificateSwiss Re5x0.323032CHF6.656.70
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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.