Bid
Ask
/product/detail/index/isin/CH0486380030
48638003 
Short Factor CertificateSwiss Life12x0.008613CHF0.190.25
/product/detail/index/isin/CH0486384602
48638460 
Long Factor CertificateSwiss Life5x0.001416CHF0.060.12
/product/detail/index/isin/CH0486380022
48638002 
Short Factor CertificateSwiss Life8x0.038646CHF1.441.58
/product/detail/index/isin/CH0528794677
52879467 
Short Factor CertificateSwiss Life8x0.015189CHF0.560.62
/product/detail/index/isin/CH0521951936
52195193 
Short Factor CertificateSwiss Life12x0.044323CHF1.071.21
/product/detail/index/isin/CH0533638497
53363849 
Short Factor CertificateSwiss Life8x0.003193CHF0.100.16
/product/detail/index/isin/CH0533638588
53363858 
Long Factor CertificateSwiss Life12x0.231425CHF5.97--
/product/detail/index/isin/CH0527067281
52706728 
Long Factor CertificateSwiss Life8x0.001004CHF0.010.07
/product/detail/index/isin/CH0531810627
53181062S8SL9U
Short Factor CertificateSwiss Life8x0.003193CHF0.120.13
/product/detail/index/isin/CH0486380360
48638036S12XLU
Short Factor CertificateSwiss Life12x0.007799CHF0.21--
/product/detail/index/isin/CH0449360343
44936034FS5SRU
Short Factor CertificateSwiss Re5x0.252245CHF3.473.49
/product/detail/index/isin/CH0486384925
48638492L5SWXU
Long Factor CertificateSwiss Re5x0.00902CHF0.120.13
/product/detail/index/isin/CH0491168982
49116898S12SRU
Short Factor CertificateSwiss Re12x0.025606CHF0.140.15
/product/detail/index/isin/CH0449360558
44936055 
Short Factor CertificateSwiss Re5x0.252245CHF3.4123.552
/product/detail/index/isin/CH0520704211
52070421S12SWU
Short Factor CertificateSwiss Re12x0.135327CHF0.750.76
/product/detail/index/isin/CH0520708311
52070831 
Short Factor CertificateSwiss Re12x0.138479CHF0.740.80
/product/detail/index/isin/CH0527063793
52706379L12S1U
Long Factor CertificateSwiss Re12x0.000031CHF0.360.39
/product/detail/index/isin/CH0525942600
52594260L12SWU
Long Factor CertificateSwiss Re12x0.000016CHF0.170.20
/product/detail/index/isin/CH0491168974
49116897S8SREU
Short Factor CertificateSwiss Re8x0.18221CHF1.541.56
/product/detail/index/isin/CH0533638505
53363850 
Short Factor CertificateSwiss Re5x0.027599CHF0.350.41
  • 10 per page
  • 20 per page
  • 50 per page
  • 100 per page

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.