Bid
Ask
/product/detail/index/isin/CH0505529740
50552974S10NXU
Short Factor CertificateNASDAQ 100 Index10x0.006316CHF5.075.07
/product/detail/index/isin/CH0505529732
50552973S8PSHU
Short Factor CertificatePorsche8x0.481315CHF4.214.31
/product/detail/index/isin/CH0505529724
50552972L10WWU
Long Factor CertificateWirecard AG10x0.074705CHF0.740.89
/product/detail/index/isin/CH0505529716
50552971L8WDIU
Long Factor CertificateWirecard AG8x0.120798CHF1.421.57
/product/detail/index/isin/CH0505529708
50552970L5WDIU
Long Factor CertificateWirecard AG5x0.117026CHF3.734.03
/product/detail/index/isin/CH0505529690
50552969S12ASU
Short Factor Certificateadidas12x0.213527CHF5.665.71
/product/detail/index/isin/CH0505522802
50552280 
Long Factor CertificateWirecard AG5x0.341846CHF8.739.03
/product/detail/index/isin/CH0505522794
50552279 
Short Factor CertificateWirecard AG12x0.890499CHF9.499.59
/product/detail/index/isin/CH0505522786
50552278 
Short Factor CertificateWirecard AG10x0.674661CHF7.087.53
/product/detail/index/isin/CH0505522778
50552277 
Short Factor CertificateWirecard AG8x0.488674CHF6.646.94
/product/detail/index/isin/CH0505522760
50552276 
Short Factor CertificateWirecard AG5x0.261275CHF5.956.10
/product/detail/index/isin/CH0505522653
50552265 
Short Factor CertificateEuro STOXX 50 Price Index10x0.012593CHF4.884.89
/product/detail/index/isin/CH0505520418
50552041 
Short Factor CertificateNetflix10x0.079853CHF1.56--
/product/detail/index/isin/CH0505520400
50552040 
Short Factor CertificateBaidu Inc10x0.385728CHF5.525.72
/product/detail/index/isin/CH0505520392
50552039 
Short Factor CertificateApple5x0.111426CHF5.035.05
/product/detail/index/isin/CH0505520384
50552038 
Short Factor CertificateVolkswagen VZ8x0.149154CHF3.383.53
/product/detail/index/isin/CH0505520376
50552037 
Short Factor CertificateSiemens12x0.506064CHF4.544.57
/product/detail/index/isin/CH0505520368
50552036 
Short Factor CertificateSAP SE12x0.424102CHF4.27--
/product/detail/index/isin/CH0505520350
50552035 
Short Factor CertificateSAP SE10x0.360232CHF4.37--
/product/detail/index/isin/CH0505520343
50552034 
Short Factor CertificatePorsche12x0.546821CHF3.163.46
  • 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.