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/product/detail/index/isin/CH0486384644
48638464 
Long Factor CertificateSwiss Re8x0.724749CHF9.859.95
/product/detail/index/isin/CH0486384636
48638463 
Long Factor CertificateSwiss Re5x0.377261CHF8.218.27
/product/detail/index/isin/CH0486384925
48638492L5SWXU
Long Factor CertificateSwiss Re5x0.388316CHF8.468.49
/product/detail/index/isin/CH0496880086
49688008 
Short Factor CertificateSwiss Re12x0.181874CHF1.621.68
/product/detail/index/isin/CH0496880078
49688007 
Short Factor CertificateSwiss Re8x0.191364CHF2.572.63
/product/detail/index/isin/CH0491168982
49116898S12SRU
Short Factor CertificateSwiss Re12x0.181674CHF1.631.66
/product/detail/index/isin/CH0491168974
49116897S8SREU
Short Factor CertificateSwiss Re8x0.191242CHF2.592.62
/product/detail/index/isin/CH0480382172
48038217L8SWRU
Long Factor CertificateSwiss Re8x1.090551CHF14.8514.95
/product/detail/index/isin/CH0462555829
46255582 
Long Factor CertificateSwiss Re12x1.962656CHF17.73718.037
/product/detail/index/isin/CH0506642815
50664281L12SRU
Long Factor CertificateSwiss Re12x0.59494CHF5.415.46
/product/detail/index/isin/CH0506642831
50664283 
Long Factor CertificateSwiss Re12x0.598304CHF5.405.50
/product/detail/index/isin/CH0478937888
47893788L5TEMU
Long Factor CertificateTemenos5x0.037247CHF1.131.14
/product/detail/index/isin/CH0478939975
47893997 
Long Factor CertificateTemenos5x0.037365CHF1.1321.152
/product/detail/index/isin/CH0486380055
48638005 
Short Factor CertificateTemenos8x0.114543CHF0.002.237
/product/detail/index/isin/CH0486380048
48638004 
Short Factor CertificateTemenos5x0.139188CHF4.2524.302
/product/detail/index/isin/CH0486380386
48638038S5TEXU
Short Factor CertificateTemenos5x0.12581CHF3.803.85
/product/detail/index/isin/CH0486380378
48638037S8TEXU
Short Factor CertificateTemenos8x0.097732CHF1.831.88
/product/detail/index/isin/CH0501940321
50194032 
Long Factor CertificateTemenos5x0.30198CHF9.119.21
/product/detail/index/isin/CH0501940347
50194034L8TMNU
Long Factor CertificateTemenos8x0.269566CHF5.115.21
/product/detail/index/isin/CH0501940354
50194035 
Long Factor CertificateTemenos8x0.281784CHF5.285.38
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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.