Bid
Ask
/product/detail/index/isin/CH0509128630
50912863 
Short Factor CertificateDeutsche Lufthansa8x1.943322CHF4.744.77
/product/detail/index/isin/CH0509128622
50912862 
Short Factor CertificateDaimler10x0.808101CHF4.464.76
/product/detail/index/isin/CH0509128614
50912861 
Short Factor CertificateContinental12x0.899353CHF9.9410.24
/product/detail/index/isin/CH0509128606
50912860 
Short Factor CertificateBASF8x0.634682CHF5.856.00
/product/detail/index/isin/CH0509128598
50912859 
Long Factor CertificateZalando10x0.855477CHF3.323.47
/product/detail/index/isin/CH0509128580
50912858 
Long Factor CertificateVolkswagen VZ8x0.186747CHF4.464.61
/product/detail/index/isin/CH0509128572
50912857 
Long Factor CertificateDeutsche Lufthansa12x3.637447CHF6.046.07
/product/detail/index/isin/CH0509128564
50912856 
Long Factor CertificateDeutsche Lufthansa10x2.952376CHF5.855.88
/product/detail/index/isin/CH0509125404
50912540 
Short Factor CertificateBaidu Inc10x0.390563CHF5.986.18
/product/detail/index/isin/CH0509125396
50912539 
Short Factor CertificateBaidu Inc8x0.319346CHF5.866.01
/product/detail/index/isin/CH0508416341
50841634 
Long Factor CertificateMcDonald's10x0.309795CHF6.376.52
/product/detail/index/isin/CH0508416333
50841633 
Long Factor CertificateIntel10x0.95716CHF4.895.39
/product/detail/index/isin/CH0508416325
50841632 
Long Factor CertificateApple10x0.224091CHF6.376.42
/product/detail/index/isin/CH0508416317
50841631 
Long Factor CertificateApple8x0.174247CHF6.096.12
/product/detail/index/isin/CH0508410740
50841074 
Long Factor CertificateZalando12x0.70724CHF2.252.40
/product/detail/index/isin/CH0508410732
50841073 
Long Factor CertificateVolkswagen VZ5x0.133883CHF5.155.30
/product/detail/index/isin/CH0508410724
50841072 
Long Factor CertificateSiemens8x0.465939CHF7.387.41
/product/detail/index/isin/CH0508410716
50841071 
Short Factor CertificateNASDAQ 100 Index25x0.012568CHF4.094.10
/product/detail/index/isin/CH0508410708
50841070 
Short Factor CertificateNASDAQ 100 Index24x0.012166CHF4.134.14
/product/detail/index/isin/CH0508410690
50841069 
Short Factor CertificateNASDAQ 100 Index23x0.011757CHF4.164.17
  • 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.