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/product/detail/index/isin/CH0503311695
50331169 
Short Factor CertificateDeutsche Bank12x0.738072CHF0.450.48
/product/detail/index/isin/CH0503311703
50331170 
Short Factor CertificateApple8x0.026322CHF0.780.79
/product/detail/index/isin/CH0503311711
50331171 
Long Factor CertificateCommerzbank5x6.082402CHF7.337.36
/product/detail/index/isin/CH0503311729
50331172 
Long Factor CertificateCommerzbank8x9.175643CHF6.946.97
/product/detail/index/isin/CH0503316462
50331646 
Short Factor CertificateStarbucks10x0.282299CHF2.35--
/product/detail/index/isin/CH0503316496
50331649 
Long Factor CertificateAlphabet Inc. C10x0.104701CHF13.7713.97
/product/detail/index/isin/CH0503316504
50331650 
Long Factor CertificateStarbucks10x0.691958CHF6.136.28
/product/detail/index/isin/CH0503321751
50332175L12BYU
Long Factor CertificateBayer12x3.008855CHF19.9820.28
/product/detail/index/isin/CH0505513041
50551304 
Short Factor CertificatePorsche10x0.2547CHF1.841.99
/product/detail/index/isin/CH0505513058
50551305 
Short Factor CertificateVolkswagen VZ12x0.057325CHF0.920.98
/product/detail/index/isin/CH0505513066
50551306 
Long Factor CertificateWirecard AG8x0.052584CHF0.640.67
/product/detail/index/isin/CH0505513082
50551308 
Long Factor CertificateWirecard AG12x0.001843CHF0.0010.03
/product/detail/index/isin/CH0505513090
50551309 
Long Factor CertificateBarrick Gold10x2.708789CHF4.774.78
/product/detail/index/isin/CH0505513108
50551310 
Long Factor CertificateNVIDIA Corp5x0.177345CHF7.747.84
/product/detail/index/isin/CH0505520012
50552001S10STU
Short Factor CertificateEuro STOXX 50 Price Index10x0.007075CHF2.832.85
/product/detail/index/isin/CH0505520020
50552002S12CGU
Short Factor CertificateCommerzbank12x0.827437CHF0.310.46
/product/detail/index/isin/CH0505520038
50552003S12DEU
Short Factor CertificateDeutsche Telekom12x5.721537CHF7.437.73
/product/detail/index/isin/CH0505520053
50552005S12SAU
Short Factor CertificateSAP SE12x0.127736CHF1.451.48
/product/detail/index/isin/CH0505520079
50552007S8VOWU
Short Factor CertificateVolkswagen VZ8x0.052229CHF1.291.30
/product/detail/index/isin/CH0505520087
50552008L10AAU
Long Factor CertificateApple10x0.54891CHF15.3315.43
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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.