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/product/detail/index/isin/CH0508410484
50841048 
Short Factor CertificateBASF12x0.892172CHF5.355.65
/product/detail/index/isin/CH0508410476
50841047 
Short Factor Certificateadidas12x0.295429CHF7.127.42
/product/detail/index/isin/CH0508410468
50841046L10MDU
Long Factor CertificateMcDonald's10x0.309293CHF6.136.28
/product/detail/index/isin/CH0508410450
50841045S8VISU
Short Factor CertificateVisa8x0.22206CHF4.894.99
/product/detail/index/isin/CH0508410443
50841044S8NVAU
Short Factor CertificateNVIDIA Corp8x0.207071CHF5.775.87
/product/detail/index/isin/CH0508410435
50841043S10ITU
Short Factor CertificateIntel10x0.765214CHF4.724.92
/product/detail/index/isin/CH0508410427
50841042S10BDU
Short Factor CertificateBaidu Inc10x0.052778CHF0.670.73
/product/detail/index/isin/CH0508410419
50841041S8AAMU
Short Factor CertificateAMD8x1.015988CHF3.313.41
/product/detail/index/isin/CH0508410401
50841040S5AAMU
Short Factor CertificateAMD5x0.655709CHF4.794.89
/product/detail/index/isin/CH0508410393
50841039L8AAPU
Long Factor CertificateApple8x0.174389CHF5.495.55
/product/detail/index/isin/CH0508410385
50841038S8SIMU
Short Factor CertificateSiemens8x0.173546CHF2.692.70
/product/detail/index/isin/CH0508410377
50841037L8SIMU
Long Factor CertificateSiemens8x0.472566CHF7.427.43
/product/detail/index/isin/CH0508410369
50841036S12CBU
Short Factor CertificateCommerzbank12x18.103242CHF8.579.07
/product/detail/index/isin/CH0508410351
50841035S8CBKU
Short Factor CertificateCommerzbank8x10.562034CHF7.557.85
/product/detail/index/isin/CH0508410344
50841034S12BWU
Short Factor CertificateBMW12x0.604064CHF4.274.32
/product/detail/index/isin/CH0508410336
50841033S12BFU
Short Factor CertificateBASF12x0.885181CHF5.725.77
/product/detail/index/isin/CH0507837687
50783768S8TWTU
Short Factor CertificateTwitter Inc.8x1.523885CHF5.205.50
/product/detail/index/isin/CH0507837679
50783767L5NVDU
Long Factor CertificateNVIDIA Corp5x0.133203CHF5.215.26
/product/detail/index/isin/CH0507837661
50783766S8INTU
Short Factor CertificateIntel8x0.519338CHF3.944.09
/product/detail/index/isin/CH0507837653
50783765S10ALU
Short Factor CertificateAlibaba10x0.166743CHF3.303.50
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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.