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/product/detail/index/isin/CH0548708566
54870856L15PSU
Long Factor CertificatePorsche15x1.193332CHF8.018.31
/product/detail/index/isin/CH0548708558
54870855L15DBU
Long Factor CertificateDeutsche Bank15x10.027421CHF8.468.96
/product/detail/index/isin/CH0548708541
54870854L15ASU
Long Factor Certificateadidas15x0.487633CHF10.2610.40
/product/detail/index/isin/CH0548702528
54870252 
Short Factor CertificateFacebook10x0.260817CHF5.585.73
/product/detail/index/isin/CH0548702510
54870251 
Short Factor CertificateBaidu Inc10x0.31503CHF3.073.52
/product/detail/index/isin/CH0548702502
54870250 
Short Factor CertificateSiemens12x0.294616CHF1.871.92
/product/detail/index/isin/CH0548702494
54870249 
Short Factor CertificatePorsche12x0.2323CHF0.260.31
/product/detail/index/isin/CH0548702486
54870248 
Short Factor CertificatePorsche10x0.436192CHF0.760.86
/product/detail/index/isin/CH0548702478
54870247 
Short Factor CertificateDaimler10x0.052223CHF0.170.18
/product/detail/index/isin/CH0548702460
54870246 
Short Factor CertificateDeutsche Bank12x0.681351CHF0.230.24
/product/detail/index/isin/CH0548702452
54870245 
Short Factor CertificateDeutsche Bank10x0.736557CHF0.320.34
/product/detail/index/isin/CH0548702445
54870244 
Short Factor CertificateDeutsche Bank8x1.024963CHF0.680.70
/product/detail/index/isin/CH0548702437
54870243 
Short Factor CertificateBayer12x0.30225CHF0.820.85
/product/detail/index/isin/CH0548702429
54870242 
Long Factor CertificateAlphabet Inc. C10x0.038341CHF5.505.65
/product/detail/index/isin/CH0548702411
54870241 
Long Factor CertificateAlphabet Inc. C8x0.030334CHF5.385.53
/product/detail/index/isin/CH0548696092
54869609S10FAU
Short Factor CertificateFacebook10x0.255873CHF5.525.58
/product/detail/index/isin/CH0548696084
54869608S10BUU
Short Factor CertificateBaidu Inc10x0.32872CHF3.293.59
/product/detail/index/isin/CH0548696076
54869607S8DAMU
Short Factor CertificateDaimler8x0.338869CHF0.360.41
/product/detail/index/isin/CH0548696068
54869606S8DEBU
Short Factor CertificateDeutsche Bank8x1.00841CHF0.650.70
/product/detail/index/isin/CH0548696050
54869605S12B9U
Short Factor CertificateBayer12x0.194416CHF0.530.55
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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.