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/product/detail/index/isin/CH0507837646
50783764L10WCU
Long Factor CertificateWirecard AG10x0.494452CHF6.266.56
/product/detail/index/isin/CH0507837638
50783763L8DEBU
Long Factor CertificateDeutsche Bank8x5.089509CHF4.464.96
/product/detail/index/isin/CH0507820188
50782018 
Short Factor CertificateTwitter Inc.5x0.92259CHF5.235.33
/product/detail/index/isin/CH0507820170
50782017 
Short Factor CertificateVisa8x0.215917CHF4.774.97
/product/detail/index/isin/CH0507820162
50782016 
Short Factor CertificateVolkswagen VZ10x0.134602CHF2.632.78
/product/detail/index/isin/CH0507820154
50782015 
Short Factor CertificateDaimler8x0.575338CHF4.054.20
/product/detail/index/isin/CH0507820147
50782014 
Short Factor CertificateDAX22x0.003551CHF2.292.30
/product/detail/index/isin/CH0507820139
50782013 
Long Factor CertificateDeutsche Bank12x5.953469CHF3.593.62
/product/detail/index/isin/CH0507820121
50782012 
Long Factor CertificateDeutsche Bank10x5.65243CHF4.154.18
/product/detail/index/isin/CH0507820113
50782011 
Long Factor CertificateDeutsche Bank8x4.963721CHF4.554.58
/product/detail/index/isin/CH0507035134
50703513L8TWRU
Long Factor CertificateTwitter Inc.8x0.839656CHF3.013.16
/product/detail/index/isin/CH0507035126
50703512L5TWRU
Long Factor CertificateTwitter Inc.5x0.640817CHF3.663.81
/product/detail/index/isin/CH0507035118
50703511S8TLAU
Short Factor CertificateTesla Inc8x0.01435CHF0.590.60
/product/detail/index/isin/CH0507035100
50703510S5TLAU
Short Factor CertificateTesla Inc5x0.025906CHF1.741.75
/product/detail/index/isin/CH0507035092
50703509S10NVU
Short Factor CertificateNVIDIA Corp10x0.098436CHF2.062.16
/product/detail/index/isin/CH0507035084
50703508S12DAU
Short Factor CertificateDaimler12x0.705521CHF3.373.47
/product/detail/index/isin/CH0507035076
50703507S10DXU
Short Factor CertificateDAX10x0.002464CHF3.543.59
/product/detail/index/isin/CH0507032636
50703263 
Short Factor CertificateTwitter Inc.8x2.21289CHF7.797.99
/product/detail/index/isin/CH0507032628
50703262 
Short Factor CertificateTesla Inc8x0.013653CHF0.630.64
/product/detail/index/isin/CH0507032610
50703261 
Short Factor CertificateTesla Inc5x0.025106CHF1.811.82
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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.