Bid
Ask
/product/detail/index/isin/CH0533376205
53337620 
Long Factor CertificateSAP SE5x0.310078CHF7.837.88
/product/detail/index/isin/CH0533376031
53337603 
Long Factor CertificateDeutsche Telekom8x1.31852CHF3.01--
/product/detail/index/isin/CH0533369614
53336961 
Long Factor CertificateDeutsche Bank5x0.804425CHF1.641.66
/product/detail/index/isin/CH0533363617
53336361 
Short Factor Certificateadidas5x0.007895CHF0.36--
/product/detail/index/isin/CH0533363468
53336346 
Long Factor CertificateBMW5x0.220234CHF3.213.23
/product/detail/index/isin/CH0533363419
53336341 
Long Factor CertificateBayer5x0.409662CHF5.255.50
/product/detail/index/isin/CH0533363377
53336337 
Long Factor CertificateBASF5x0.335586CHF4.444.47
/product/detail/index/isin/CH0533363369
53336336 
Long Factor CertificateAmazon.com10x0.013156CHF3.18--
/product/detail/index/isin/CH0533363310
53336331 
Long Factor Certificateadidas5x0.129163CHF7.07--
/product/detail/index/isin/CH0532859615
53285961L5BA6U
Long Factor CertificateBASF5x0.334344CHF4.424.45
/product/detail/index/isin/CH0532859581
53285958L5AD6U
Long Factor Certificateadidas5x0.108705CHF5.96--
/product/detail/index/isin/CH0532859557
53285955L5ES6U
Long Factor CertificateEuro STOXX 50 Price Index5x0.007238CHF4.414.66
/product/detail/index/isin/CH0532299663
53229966L5STAU
Long Factor CertificateStarbucks5x0.076114CHF0.811.49
/product/detail/index/isin/CH0531810700
53181070L15S9U
Long Factor CertificateSMI PR Index15x0.008791CHF6.766.81
/product/detail/index/isin/CH0531810692
53181069L12S9U
Long Factor CertificateSMI PR Index12x0.011655CHF10.8810.93
/product/detail/index/isin/CH0531810684
53181068L10S9U
Long Factor CertificateSMI PR Index10x0.011047CHF12.1212.17
/product/detail/index/isin/CH0531810676
53181067L8SM9U
Long Factor CertificateSMI PR Index8x0.009453CHF12.6912.74
/product/detail/index/isin/CH0531810551
53181055L12Z9U
Long Factor CertificateZurich Insurance12x0.029918CHF1.031.06
/product/detail/index/isin/CH0531810544
53181054L10Z9U
Long Factor CertificateZurich Insurance10x0.068385CHF2.712.76
/product/detail/index/isin/CH0531810536
53181053L8ZU9U
Long Factor CertificateZurich Insurance8x0.109946CHF5.205.30
  • 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.