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/product/detail/index/isin/CH0508410682
50841068 
Short Factor CertificateNASDAQ 100 Index22x0.011339CHF4.204.21
/product/detail/index/isin/CH0508410674
50841067 
Short Factor CertificateEuro STOXX 50 Price Index25x0.024523CHF3.943.97
/product/detail/index/isin/CH0508410666
50841066 
Short Factor CertificateEuro STOXX 50 Price Index24x0.023775CHF3.984.01
/product/detail/index/isin/CH0508410658
50841065 
Short Factor CertificateDAX21x0.006031CHF4.064.07
/product/detail/index/isin/CH0508410641
50841064 
Short Factor CertificateDAX20x0.005803CHF4.114.12
/product/detail/index/isin/CH0508410633
50841063 
Short Factor CertificateDAX18x0.005338CHF4.214.22
/product/detail/index/isin/CH0508410625
50841062 
Short Factor CertificateStarbucks8x0.414598CHF3.954.05
/product/detail/index/isin/CH0508410617
50841061 
Short Factor CertificateNVIDIA Corp8x0.206517CHF5.515.61
/product/detail/index/isin/CH0508410609
50841060 
Short Factor CertificateIntel10x0.759807CHF4.524.82
/product/detail/index/isin/CH0508410591
50841059 
Short Factor CertificateAlibaba10x0.191541CHF4.384.41
/product/detail/index/isin/CH0508410583
50841058 
Short Factor CertificateAMD8x1.025336CHF3.803.90
/product/detail/index/isin/CH0508410575
50841057 
Short Factor CertificateAMD5x0.65946CHF4.254.30
/product/detail/index/isin/CH0508410567
50841056 
Short Factor CertificateApple10x0.160059CHF3.713.74
/product/detail/index/isin/CH0508410559
50841055 
Short Factor CertificateSiemens8x0.1763CHF2.712.74
/product/detail/index/isin/CH0508410542
50841054 
Short Factor CertificateSAP SE8x0.268309CHF4.384.53
/product/detail/index/isin/CH0508410534
50841053 
Short Factor CertificateCommerzbank12x17.110568CHF8.078.10
/product/detail/index/isin/CH0508410526
50841052 
Short Factor CertificateCommerzbank10x13.549626CHF7.557.58
/product/detail/index/isin/CH0508410518
50841051 
Short Factor CertificateBMW12x0.609126CHF3.894.04
/product/detail/index/isin/CH0508410500
50841050 
Short Factor CertificateBMW10x0.527268CHF4.064.21
/product/detail/index/isin/CH0508410492
50841049 
Short Factor CertificateBayer12x0.927357CHF5.675.97
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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.