Bid
Ask
/product/detail/index/isin/CH0462174290
46217429 
Short Factor CertificateS&P 500 Index4x0.007933CHF5.9465.956
/product/detail/index/isin/CH0462174266
46217426 
Short Factor CertificateNASDAQ 100 Index10x0.001062CHF0.9170.918
/product/detail/index/isin/CH0462174258
46217425 
Short Factor CertificateNASDAQ 100 Index8x0.001671CHF1.7641.766
/product/detail/index/isin/CH0462174241
46217424 
Short Factor CertificateNASDAQ 100 Index6x0.002212CHF3.0543.056
/product/detail/index/isin/CH0462174233
46217423 
Short Factor CertificateNASDAQ 100 Index4x0.002409CHF4.8974.899
/product/detail/index/isin/CH0462174183
46217418 
Short Factor CertificateNetflix10x0.010851CHF0.26--
/product/detail/index/isin/CH0462174100
46217410 
Short Factor CertificateIntel8x0.158095CHF1.051.15
/product/detail/index/isin/CH0462174068
46217406 
Short Factor CertificateNetflix8x0.065754CHF3.58--
/product/detail/index/isin/CH0462174019
46217401 
Short Factor CertificateAlibaba8x0.031652CHF0.97--
/product/detail/index/isin/CH0462172013
46217201FS8NFU
Short Factor CertificateNetflix8x0.089901CHF4.444.54
/product/detail/index/isin/CH0462171965
46217196FS8BAU
Short Factor CertificateAlibaba8x0.029775CHF0.81--
/product/detail/index/isin/CH0462171940
46217194FS8TSU
Short Factor CertificateTesla Inc8x0.005605CHF0.220.23
/product/detail/index/isin/CH0462171932
46217193FS5INU
Short Factor CertificateIntel5x0.350253CHF3.683.78
/product/detail/index/isin/CH0462171924
46217192FS5GOU
Short Factor CertificateAlphabet Inc. C5x0.011948CHF2.972.98
/product/detail/index/isin/CH0462171908
46217190FS5BGU
Short Factor CertificateBarrick Gold5x0.271696CHF0.940.97
/product/detail/index/isin/CH0462171890
46217189FS5NFU
Short Factor CertificateNetflix5x0.150125CHF10.6710.82
/product/detail/index/isin/CH0462171882
46217188FS5NVU
Short Factor CertificateNVIDIA Corp5x0.01372CHF0.580.59
/product/detail/index/isin/CH0462171874
46217187FS5FBU
Short Factor CertificateFacebook5x0.075047CHF3.053.06
/product/detail/index/isin/CH0462171866
46217186FS5APU
Short Factor CertificateApple5x0.022661CHF1.071.08
/product/detail/index/isin/CH0462171841
46217184FS5BAU
Short Factor CertificateAlibaba5x0.085565CHF3.383.43
  • 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.