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/product/detail/index/isin/CH0533638638
53363863 
Long Factor CertificateSwiss Re5x1.183811CHF16.9617.38
/product/detail/index/isin/CH0533638646
53363864 
Long Factor CertificateTemenos8x1.039352CHF16.0618.08
/product/detail/index/isin/CH0533638653
53363865 
Long Factor CertificateTemenos5x0.461376CHF11.2912.11
/product/detail/index/isin/CH0533638661
53363866 
Long Factor CertificateUBS Group AG6x5.561183CHF8.459.07
/product/detail/index/isin/CH0533638679
53363867 
Long Factor CertificateUBS Group AG8x7.315576CHF8.359.15
/product/detail/index/isin/CH0533638687
53363868 
Long Factor CertificateUBS Group AG10x8.047359CHF7.188.40
/product/detail/index/isin/CH0533638695
53363869 
Long Factor CertificateUBS Group AG12x4.719834CHF3.533.95
/product/detail/index/isin/CH0533638703
53363870 
Long Factor CertificateThe Swatch Grp Bearer8x0.176222CHF3.974.79
/product/detail/index/isin/CH0533638711
53363871 
Long Factor CertificateThe Swatch Grp Bearer10x0.180493CHF3.27--
/product/detail/index/isin/CH0533638729
53363872 
Long Factor CertificateThe Swatch Grp Bearer12x0.110604CHF1.63--
/product/detail/index/isin/CH0533638737
53363873 
Long Factor CertificateZurich Insurance12x0.456647CHF11.82--
/product/detail/index/isin/CH0533638745
53363874 
Long Factor CertificateZurich Insurance10x0.398827CHF13.01--
/product/detail/index/isin/CH0533638752
53363875 
Long Factor CertificateZurich Insurance8x0.310364CHF12.3014.32
/product/detail/index/isin/CH0533638760
53363876 
Long Factor CertificateZurich Insurance6x0.208204CHF11.0612.28
/product/detail/index/isin/CH0533638778
53363877 
Long Factor CertificateZurich Insurance5x0.159978CHF10.2611.08
/product/detail/index/isin/CH0535720764
53572076L5AAKU
Long Factor CertificateApple5x0.11408CHF4.674.69
/product/detail/index/isin/CH0535720798
53572079L1ADNU
Long Factor Certificateadidas12x0.651026CHF7.42--
/product/detail/index/isin/CH0535720814
53572081L5AMRU
Long Factor CertificateAMD5x1.2421CHF10.5110.61
/product/detail/index/isin/CH0535720863
53572086L1BACU
Long Factor CertificateBASF12x0.442032CHF1.46--
/product/detail/index/isin/CH0535720889
53572088L5BAEU
Long Factor CertificateBayer5x0.566018CHF5.966.01
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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.