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/product/detail/index/isin/CH0462169894
46216989FL5AMU
Long Factor CertificateAmazon.com5x0.02899CHF9.909.95
/product/detail/index/isin/CH0462171833
46217183FS5AMU
Short Factor CertificateAmazon.com5x0.011716CHF4.294.31
/product/detail/index/isin/CH0462171072
46217107 
Short Factor CertificateAmazon.com5x0.011489CHF4.414.43
/product/detail/index/isin/CH0489597143
48959714S12AMU
Short Factor CertificateAmazon.com12x0.056646CHF8.949.04
/product/detail/index/isin/CH0489597135
48959713S8AMZU
Short Factor CertificateAmazon.com8x0.037829CHF8.768.81
/product/detail/index/isin/CH0489597309
48959730L8AMZU
Long Factor CertificateAmazon.com8x0.006021CHF1.251.26
/product/detail/index/isin/CH0489594264
48959426 
Short Factor CertificateAmazon.com8x0.038004CHF9.399.49
/product/detail/index/isin/CH0489590973
48959097 
Long Factor CertificateAmazon.com5x0.006841CHF2.212.22
/product/detail/index/isin/CH0489590999
48959099 
Long Factor CertificateAmazon.com10x0.004728CHF0.69--
/product/detail/index/isin/CH0489594272
48959427 
Short Factor CertificateAmazon.com10x0.048354CHF9.84--
/product/detail/index/isin/CH0489590981
48959098 
Long Factor CertificateAmazon.com8x0.006049CHF1.151.16
/product/detail/index/isin/CH0489597325
48959732L5AMZU
Long Factor CertificateAmazon.com5x0.006823CHF2.322.33
/product/detail/index/isin/CH0493876137
49387613L12AZU
Long Factor CertificateAmazon.com12x0.0151CHF2.03--
/product/detail/index/isin/CH0493871237
49387123 
Short Factor CertificateAmazon.com12x0.029768CHF5.19--
/product/detail/index/isin/CH0496915858
49691585L10AMU
Long Factor CertificateAmazon.com10x0.025979CHF4.27--
/product/detail/index/isin/CH0496921740
49692174S10AMU
Short Factor CertificateAmazon.com10x0.020358CHF3.81--
/product/detail/index/isin/CH0497183746
49718374 
Long Factor CertificateAmazon.com10x0.023944CHF3.51--
/product/detail/index/isin/CH0484372492
48437249 
Short Factor CertificateAMD8x0.127241CHF0.500.51
/product/detail/index/isin/CH0484378564
48437856S8AMDU
Short Factor CertificateAMD8x0.129903CHF0.530.54
/product/detail/index/isin/CH0489597150
48959715S5AMDU
Short Factor CertificateAMD5x0.235922CHF1.501.52
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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.