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/product/detail/index/isin/CH0510110007
51011000 
Long Factor CertificateLonza12x0.207771CHF5.0415.191
/product/detail/index/isin/CH0510110015
51011001 
Long Factor CertificateZurich Insurance12x0.151487CHF4.925.07
/product/detail/index/isin/CH0510110023
51011002 
Short Factor CertificateABB12x1.833222CHF3.1493.179
/product/detail/index/isin/CH0510110031
51011003 
Short Factor CertificateAdecco8x0.561887CHF4.374.47
/product/detail/index/isin/CH0510110049
51011004 
Short Factor CertificateLogitech12x1.032564CHF3.8924.042
/product/detail/index/isin/CH0510110056
51011005 
Short Factor CertificateNovartis12x0.457667CHF3.6583.708
/product/detail/index/isin/CH0510971390
51097139L12DKU
Long Factor CertificateDeutsche Bank12x7.142864CHF4.955.25
/product/detail/index/isin/CH0510971408
51097140L5SISU
Long Factor CertificateSiemens5x0.213635CHF5.495.51
/product/detail/index/isin/CH0510971416
51097141L8TLSU
Long Factor CertificateTesla Inc8x0.073362CHF3.093.15
/product/detail/index/isin/CH0511283944
51128394 
Short Factor CertificateNASDAQ 100 Index21x0.007427CHF3.043.07
/product/detail/index/isin/CH0511283951
51128395 
Long Factor CertificateCommerzbank12x9.371731CHF4.914.92
/product/detail/index/isin/CH0511283969
51128396 
Long Factor CertificateTesla Inc8x0.072605CHF3.053.14
/product/detail/index/isin/CH0511312008
51131200 
Short Factor CertificateNetflix10x0.137927CHF4.134.28
/product/detail/index/isin/CH0511312016
51131201 
Long Factor CertificateApple5x0.095558CHF5.065.12
/product/detail/index/isin/CH0511312024
51131202 
Long Factor CertificateAMD8x0.806968CHF3.693.99
/product/detail/index/isin/CH0511323112
51132311 
Long Factor CertificateWirecard AG10x0.400702CHF4.124.22
/product/detail/index/isin/CH0511323120
51132312 
Long Factor CertificateWirecard AG12x0.497251CHF4.074.17
/product/detail/index/isin/CH0512541829
51254182S25SWU
Short Factor CertificateSMI PR Index25x0.009046CHF3.933.98
/product/detail/index/isin/CH0512541837
51254183L5ABBU
Long Factor CertificateABB5x1.236392CHF5.685.70
/product/detail/index/isin/CH0512541845
51254184L12ADU
Long Factor CertificateAdecco12x0.926942CHF4.514.71
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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.