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/product/detail/index/isin/CH0498656047
49865604S15SPU
Short Factor CertificateS&P 500 Index15x0.017287CHF3.583.59
/product/detail/index/isin/CH0498656039
49865603S12NAU
Short Factor CertificateNASDAQ 100 Index12x0.005693CHF3.903.91
/product/detail/index/isin/CH0498648820
49864882 
Short Factor CertificateS&P 500 Index21x0.015494CHF2.202.21
/product/detail/index/isin/CH0498648812
49864881 
Short Factor CertificateDow Jones Industrial Average Index23x0.001557CHF1.841.85
/product/detail/index/isin/CH0498648804
49864880 
Short Factor CertificateDow Jones Industrial Average Index22x0.001567CHF1.931.94
/product/detail/index/isin/CH0498648796
49864879 
Short Factor CertificateDow Jones Industrial Average Index21x0.001573CHF2.032.04
/product/detail/index/isin/CH0498648788
49864878 
Short Factor CertificateDow Jones Industrial Average Index20x0.001573CHF2.132.14
/product/detail/index/isin/CH0498648770
49864877 
Short Factor CertificateEuro STOXX 50 Price Index12x0.012122CHF3.833.84
/product/detail/index/isin/CH0498648762
49864876 
Long Factor CertificateS&P 500 Index21x0.066023CHF9.409.41
/product/detail/index/isin/CH0498648754
49864875 
Long Factor CertificateS&P 500 Index20x0.061226CHF9.159.16
/product/detail/index/isin/CH0498648747
49864874 
Long Factor CertificateNASDAQ 100 Index25x0.032146CHF10.2710.28
/product/detail/index/isin/CH0498648739
49864873 
Long Factor CertificateNASDAQ 100 Index24x0.030202CHF10.0510.06
/product/detail/index/isin/CH0498648721
49864872 
Long Factor CertificateNASDAQ 100 Index23x0.028313CHF9.829.83
/product/detail/index/isin/CH0498648713
49864871 
Long Factor CertificateNASDAQ 100 Index21x0.024705CHF9.379.38
/product/detail/index/isin/CH0498648705
49864870 
Long Factor CertificateDow Jones Industrial Average Index24x0.009814CHF11.0111.02
/product/detail/index/isin/CH0498648697
49864869 
Long Factor CertificateDow Jones Industrial Average Index23x0.009138CHF10.7010.71
/product/detail/index/isin/CH0498648689
49864868 
Long Factor CertificateDow Jones Industrial Average Index22x0.008489CHF10.3910.40
/product/detail/index/isin/CH0498648671
49864867 
Long Factor CertificateDow Jones Industrial Average Index18x0.006185CHF9.259.26
/product/detail/index/isin/CH0497804465
49780446S5TSLU
Short Factor CertificateTesla Inc5x0.108111CHF5.525.58
/product/detail/index/isin/CH0497804457
49780445S10NDU
Short Factor CertificateNVIDIA Corp10x0.349544CHF6.786.97
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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.