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/product/detail/index/isin/CH0493890021
49389002 
Long Factor CertificateS&P 500 Index25x0.020304CHF2.372.41
/product/detail/index/isin/CH0493890013
49389001 
Long Factor CertificateS&P 500 Index24x0.019919CHF2.422.46
/product/detail/index/isin/CH0493890005
49389000 
Long Factor CertificateS&P 500 Index23x0.021087CHF2.672.71
/product/detail/index/isin/CH0493889999
49388999 
Long Factor CertificateS&P 500 Index22x0.02169CHF2.872.91
/product/detail/index/isin/CH0493889981
49388998 
Long Factor CertificateEuro STOXX 50 Price Index24x0.029532CHF4.474.50
/product/detail/index/isin/CH0493889973
49388997 
Long Factor CertificateEuro STOXX 50 Price Index24x0.029532CHF4.474.50
/product/detail/index/isin/CH0493889965
49388996 
Long Factor CertificateEuro STOXX 50 Price Index23x0.030475CHF4.824.85
/product/detail/index/isin/CH0493889957
49388995 
Long Factor CertificateEuro STOXX 50 Price Index22x0.029673CHF4.914.94
/product/detail/index/isin/CH0493889940
49388994 
Long Factor CertificateDAX25x0.006789CHF3.393.40
/product/detail/index/isin/CH0493889932
49388993 
Long Factor CertificateDAX24x0.00645CHF3.363.37
/product/detail/index/isin/CH0493889924
49388992 
Long Factor CertificateDAX23x0.006155CHF3.353.36
/product/detail/index/isin/CH0493889916
49388991 
Long Factor CertificateDAX22x0.006491CHF3.703.71
/product/detail/index/isin/CH0493889908
49388990 
Long Factor CertificateDAX21x0.0064CHF3.823.83
/product/detail/index/isin/CH0493889890
49388989 
Long Factor CertificateDAX20x0.00627CHF3.943.95
/product/detail/index/isin/CH0493884669
49388466 
Short Factor CertificateZalando5x0.502193CHF4.565.01
/product/detail/index/isin/CH0493884651
49388465 
Short Factor CertificateZalando8x0.699127CHF3.844.59
/product/detail/index/isin/CH0493884644
49388464 
Short Factor CertificateDeutsche Bank10x9.36578CHF6.676.70
/product/detail/index/isin/CH0493884636
49388463 
Short Factor CertificateBayer10x0.18323CHF1.361.42
/product/detail/index/isin/CH0493876178
49387617L8TSLU
Long Factor CertificateTesla Inc8x0.080325CHF2.172.22
/product/detail/index/isin/CH0493876160
49387616L10NVU
Long Factor CertificateNVIDIA Corp10x0.453954CHF8.27--
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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.