Inhaltsseite: Home

ZKB Barrier Reverse Convertible on worst of
Carnival Corporation/Norwegian Cruise Line Holdings Ltd/TUI AG

ISIN: CH1446526480 Security: 144652648 Symbol: n.a. Life cycle
Secondary market

Bid Price 100.60%

Ask Price 0.00%

Currency qUSD

Exchange ZKB

Volume 100'000.00

Volume n.a.

Date/time (realtime) 23.07.2025 09:45:15

Sell Buy 

Underlying value

UnderlyingPriceInitial fixingCurr.CapDistance to capBarrierDistance to barrierRatio
Carnival A29.8929.0707USD29.07
(100.00%)
2.74%15.989
(55.00%)
46.51%n.a.
Norwegian Cruise Line N23.623.0051USD23.01
(100.00%)
2.52%12.653
(55.00%)
46.39%n.a.
TUI N7.9987.795EUR7.80
(100.00%)
2.85%4.287
(55.00%)
46.57%n.a.

Reference data

ISIN CH1446526480
Security 144652648
Symbol n.a.
Currency qUSD
Currency hedging Yes
Nominal amount 1'000.00
Barrier level observation continuous
Maximum repayment 1'250.35

Coupon

Coupon (Coupon p.a.)25.04% (19.98% )
Coupon paymentguaranteed
Interest portion p.a.3.89%
Premium portion p.a.16.09%
Coupon date19.10.2026
Day count convention30/360 (German), modified following
Accrued couponn.a.

Life cycle

Issue price100.00%
Initial fixing date11.07.2025
Payment day18.07.2025
First trading day18.07.2025
Last trading day12.10.2026
Final fixing day12.10.2026
Redemption date19.10.2026
Redemption typephysical delivery or cash settlement
Early redemptionNo
Residual term445
Issue amount100'000.00

Price data

Price status flat Marchzins
Exchange ZKB
Trade time 09:15 - 17:15 (CET)
Round lot USD 1'000.00
Performance of underlying since issue 2.59%

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 Return3.89%
Cash value of fixed income investment upon issue95.33%
Cash value of fixed income investment upon redemption100.00%

Sales restrictions

USA, US persons, Guernsey, EEA, GB

Redemption

Redemption date19.10.2026
Redemption amount
Redemption currencyn.a.
Underlyingn.a.
Physical delivery-

Ajax loading