Supported by broad demand, Zürcher Kantonalbank issued a bail-in bond in the amount of CHF 300 million. The bond is divided into two tranches with terms until March 2030 and March 2033. The six-year tranche pays a coupon of 2.000%, the nine-year tranche pays a coupon of 2.125%. The bail-in bond counts towards the gone concern capital which systemically important banks are required to hold for regulatory purposes and is assigned an instrument rating of Aa2 by the rating agency Moody's.
The issue price of the six-year tranche is 100.485%, the one of the nine-year tranche is 100.018%. Settlement will be on 22.03.2024. The tranches are traded under ISIN CH1319968553 and CH1319968561 respectively on the SIX Swiss Exchange. The first trading date is 21.03.2024.