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Disclaimers
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Access to these web pages, including posted documents and information, (together, "Materials") is subject to the disclaimers and covenants set out below and published on this website. These materials are distributed, and only intended to be distributed, in Singapore by UBS AG to retails customers who have been assessed to be eligible to purchase or deal in Specified Investment Products (as defined under MAS Notice SFA 04-N12, “Notice on Sale of Investment Products”), accredited investors or institutional investors.. as defined under the Securities and Futures Act ("SFA"). These Materials may be defined as an "advertisement" in the SFA and Financial Advisers Act. This advertisement has not been reviewed by the Monetary Authority of Singapore. These Materials are only directed at and intended for persons in Singapore. The Materials must not be accessed, used, relied or acted upon by persons outside of Singapore.
There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the Materials and UBS AG and subsidiaries and affiliates (collectively "UBS Group") accept no liability or responsibility whatsoever for any actions or omissions on your part which may be in breach of any applicable laws, regulations or rules of the jurisdiction or country in which you may be subject to. UBS does not make any representation or warranty (express or implied) in respect of the Materials as to the accuracy, completeness, timeliness or correctness for any particular purpose. UBS Group further disclaims and accepts no liability or responsibility whatsoever for the access, downloading, distribution, dissemination, sharing, reliance or other use of any Materials by or to individuals or entities which provide false information regarding their place of residence or domicile.
These Materials contain information pertaining to daily leverage certificates ("DLC"). Any prices stated in the Materials are for information purposes only and do not represent valuations for individual circumstances or other financial instruments. There is no representation that any transaction can or could have been effected at prices stated in the Materials, and such prices do not necessarily reflect internal books, records or theoretical model-based valuations and may be based on certain assumptions. Different assumptions by UBS or any other source may yield substantially different results.
The Materials are not, and not intended to be, a solicitation, recommendation, advice or an offer to buy or sell any financial instruments or to participate in any particular investment strategy. Nothing in this document constitutes a representation that any information contained in the Materials would be suitable or appropriate to an individual’s circumstances or otherwise constitutes a personal recommendation. Neither UBS Group nor its representatives has any responsibility or authority to provide or have provided investment advice in a fiduciary capacity or otherwise through these Materials. Neither UBS Group nor its representatives is suggesting that any person take a specific course of action or any action at all. By accessing the Materials, you acknowledge and agree with the intended purpose described above and further disclaims any expectation or belief that the information constitutes investment advice to you or otherwise purports to meet your investment objectives. Prior to making any investment or financial decisions, please take steps to understand the risk and return of the investment and seek individualized advice from your own personal financial, legal, tax and other professional advisors who would be familiar with the particular facts and circumstances of your investment objectives.
The End User shall not, in whatever form, reproduce, distribute, retransmit or disseminate all or any part of the Market Data without SGX’s prior written consent. Unless otherwise agreed, such End User shall enter into a separate agreement with SGX for redistribution.
Intrinsic Closing Value is computed according to the valuation formula of the Certificates. The actual Closing
Price of the Certificates reflects the last traded price on the trading day, which may differ from the Intrinsic
Closing Value under certain conditions.
Leveraged Strategy Return is the sum of Daily Leveraged Return, Daily Funding Cost, Daily Rebalancing Cost and
Stock Borrowing Cost (if any)
Hedging Fees Factor is computed as the product for all trading days of Daily Hedging Fees
Daily Hedging Fees are computed according to the following formula : [1 – Management Fees x (ACT (t-1;t) ÷ 360)]
x [1 – Gap Premium (t-1) x (ACT (t-1;t) ÷ 360)]
When investors trade intra-day (buying and selling the Certificates on the same Trading Day), the costs are the
brokerage fees, trading fees and bid/ask spread from trading which are typically the same as trading stocks on the
relevant exchange. Daily Cost reflects the leverage and hedging costs and fees which would also apply when the
Certificates are held overnight, which consist of the Management Fee, Gap Premium, Rebalancing Costs, Funding Costs
and Borrowing Costs (for Short Certificates only), which are calculated daily and applied to the value of the
Certificates.