Lol, you are talking about "Callable Bull/Bear Contracts". They are a special kind of barrier options.

They don't have any inherent extra leverage. The multiplier can be anything for any contract (the standard options use 100 for convenience), it could easily be 1000.

The contracts you are talking about are fundamentally structured debit spreads which are cash settled and are executed together.

Now, anyone who has done a debit/credit spread will tell you that due the nature of offsetting positions you get margin benefit such that you only need to maintain max loss. This can be construed as increased leverage, because you can buy/sell more share equivalent contracts for the same amount of money.