Bid
Ask
/product/detail/index/isin/CH0449359733
44935973 
Short Factor CertificateSMI PR Index4x0.003779CHF9.3689.408
/product/detail/index/isin/CH0449359741
44935974 
Short Factor CertificateSMI PR Index6x0.00231CHF3.8093.829
/product/detail/index/isin/CH0449359758
44935975 
Short Factor CertificateSMI PR Index8x0.001338CHF1.6521.662
/product/detail/index/isin/CH0449359766
44935976 
Short Factor CertificateSMI PR Index10x0.000713CHF0.7020.708
/product/detail/index/isin/CH0449359774
44935977UCFJIU
Short Factor CertificateUBS Group AG5x2.724361CHF5.996.04
/product/detail/index/isin/CH0449359782
44935978DJIGIU
Short Factor CertificateUBS Group AG6x2.597936CHF4.754.80
/product/detail/index/isin/CH0449359790
44935979DJIHJU
Short Factor CertificateUBS Group AG8x1.918808CHF2.632.66
/product/detail/index/isin/CH0449359808
44935980DJILKU
Short Factor CertificateUBS Group AG10x1.09789CHF1.201.22
/product/detail/index/isin/CH0449359816
44935981OJIWLU
Short Factor CertificateCredit Suisse5x0.926481CHF2.222.24
/product/detail/index/isin/CH0449359824
44935982OJIWMU
Short Factor CertificateCredit Suisse6x0.693961CHF1.391.40
/product/detail/index/isin/CH0449359832
44935983OJIWOU
Short Factor CertificateCredit Suisse8x0.307349CHF0.460.47
/product/detail/index/isin/CH0449359857
44935985BJIWQU
Short Factor CertificateZurich Insurance5x0.017929CHF1.381.40
/product/detail/index/isin/CH0449359865
44935986BJIWRU
Short Factor CertificateZurich Insurance6x0.013699CHF0.880.89
/product/detail/index/isin/CH0449359899
44935989OJIUUU
Short Factor CertificateRoche5x0.046396CHF2.722.73
/product/detail/index/isin/CH0449359907
44935990OJIUVU
Short Factor CertificateRoche6x0.039972CHF1.961.97
/product/detail/index/isin/CH0449359915
44935991NDBAAU
Short Factor CertificateRoche8x0.025995CHF0.950.96
/product/detail/index/isin/CH0449359931
44935993SMIAUU
Long Factor CertificateThe Swatch Grp Bearer5x0.078787CHF4.074.12
/product/detail/index/isin/CH0449359949
44935994OBIOUU
Long Factor CertificateThe Swatch Grp Bearer6x0.065125CHF2.792.84
/product/detail/index/isin/CH0449359956
44935995OCBRGU
Long Factor CertificateThe Swatch Grp Bearer8x0.033655CHF1.071.10
/product/detail/index/isin/CH0449359972
44935997OCBNHU
Long Factor CertificateUBS Group AG5x2.402531CHF5.315.36
  • 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.