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ZKB Barrier Reverse Convertible on worst of
SAP SE/Siemens AG/Deutsche Telekom AG

ISIN: CH1446509478 Security: 144650947 Symbol: Z0B56Z Life cycle
Secondary market

Bid Price 89.61%

Ask Price 90.36%

Currency EUR

Exchange ZKB

Volume 500'000.00

Volume 500'000.00

Date/time (realtime) 12.12.2025 05:58:36

Sell Buy 

Underlying value

UnderlyingPriceInitial fixingCurr.CapDistance to capBarrierDistance to barrierRatio
SAP A208.45262.30EUR262.30
(100.00%)
-25.77%149.511
(57.00%)
28.31%3.8124
Siemens N237.55218.65EUR218.65
(100.00%)
7.74%124.631
(57.00%)
47.41%4.5735
Deutsche Telekom N26.7934.13EUR34.13
(100.00%)
-27.16%19.454
(57.00%)
27.52%29.2997

Reference data

ISIN CH1446509478
Security 144650947
Symbol Z0B56Z
Currency EUR
Currency hedging No
Nominal amount 1'000.00
Barrier level observation continuous
Maximum repayment 1'138.75

Coupon

Coupon (Coupon p.a.)13.88% (9.25% )
Coupon paymentguaranteed
Interest portion p.a.1.72%
Premium portion p.a.7.53%
Coupon date03.12.2026
Day count convention30/360 (German), modified following
Accrued coupon0.33%

Life cycle

Issue price100.00%
Initial fixing date26.05.2025
Payment day03.06.2025
First trading day03.06.2025
Last trading day26.11.2026
Final fixing day26.11.2026
Redemption date03.12.2026
Redemption typephysical delivery or cash settlement
Early redemptionNo
Residual term347
Issue amount5'000'000.00

Price data

Price status flat Marchzins
Exchange ZKB
Trade time 09:15 - 17:15 (CET)
Round lot EUR 1'000.00
Performance of underlying since issue -21.36%

Product type

SSPA derivative category Yield enhancement
SSPA code Barrier reverse convertible (1230)

Legal parties

Issuer Zuercher Kantonalbank Finance (Guernsey) Ltd
Keep-Well Agreement with Zürcher Kantonalbank, Zürich
Issuer rating
Lead manager Zürcher Kantonalbank, Zürich
Payment, execution and calculation agent Zürcher Kantonalbank, Zürich

Tax aspects (Private investor tax domicile Switzerland)

Income taxYes
Withholding taxNo
Stamp duty payable in the secondary marketYes
Stamp duty payable upon delivery of the securitiesYes
SIX Telekurs EU tax classification code (out of scope)
Internal Rate of Returnn.a.
Cash value of fixed income investment upon issuen.a.
Cash value of fixed income investment upon redemptionn.a.

Sales restrictions

USA, US persons, Guernsey, EEA, GB

Redemption

Redemption date03.12.2026
Redemption amount
Redemption currencyn.a.
Underlyingn.a.
Physical delivery-

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