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Long Factor CertificateAmazon.com10x0.002471CHF0.56--
/product/detail/index/isin/CH0533363369
53336336 
Long Factor CertificateAmazon.com10x0.013156CHF3.04--
/product/detail/index/isin/CH0489590973
48959097 
Long Factor CertificateAmazon.com5x0.010287CHF4.834.95
/product/detail/index/isin/CH0545785435
54578543 
Short Factor CertificateAmazon.com10x0.011684CHF2.732.79
/product/detail/index/isin/CH0545785427
54578542 
Short Factor CertificateAmazon.com8x0.010696CHF3.133.19
/product/detail/index/isin/CH0545785419
54578541 
Short Factor CertificateAmazon.com5x0.008035CHF3.783.84
/product/detail/index/isin/CH0545785039
54578503S10AZU
Short Factor CertificateAmazon.com10x0.011449CHF2.692.73
/product/detail/index/isin/CH0545785013
54578501S5AMZU
Short Factor CertificateAmazon.com5x0.007957CHF3.763.78
/product/detail/index/isin/CH0545779107
54577910L10AZU
Long Factor CertificateAmazon.com10x0.030739CHF7.277.37
/product/detail/index/isin/CH0545785021
54578502S8AMZU
Short Factor CertificateAmazon.com8x0.010525CHF3.093.13
/product/detail/index/isin/CH0489597333
48959733L5AMDU
Long Factor CertificateAMD5x0.152437CHF1.561.65
/product/detail/index/isin/CH0524588396
52458839L5AMMU
Long Factor CertificateAMD5x0.050147CHF0.490.57
/product/detail/index/isin/CH0540336184
54033618 
Long Factor CertificateAMD5x0.337757CHF3.523.61
/product/detail/index/isin/CH0545785401
54578540 
Short Factor CertificateAMD8x0.610296CHF3.713.86
/product/detail/index/isin/CH0545785393
54578539 
Short Factor CertificateAMD5x0.44683CHF4.424.57
/product/detail/index/isin/CH0545779784
54577978 
Long Factor CertificateAMD8x0.560133CHF3.673.82
/product/detail/index/isin/CH0545772748
54577274S5ADMU
Short Factor CertificateAMD5x0.426571CHF4.244.34
/product/detail/index/isin/CH0545772755
54577275S8AMDU
Short Factor CertificateAMD8x0.565818CHF3.463.56
/product/detail/index/isin/CH0545779099
54577909L8AMDU
Long Factor CertificateAMD8x0.602662CHF3.974.07
/product/detail/index/isin/CH0531804828
53180482L8AM9U
Long Factor CertificateAMS8x0.048194CHF0.120.13
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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.