Thursday, 7 August 2025 Reading time : 3 minutes

The US stock market seems currently unaffected by the political and economic chaos stirred up by US President Donald Trump on an almost daily basis. On 28 July, the S&P 500 closed at 6,389.77 points, reaching a new record high. The index is currently trading slightly below this level. It is uncertain whether the boom on Wall Street will continue – investors must be prepared for a setback at any time, as the stock market crash in April demonstrated.

For investors looking to protect themselves against price losses while still participating in the US index, the ZKB capital protection certificate on the S&P 500® could be an attractive investment opportunity.

The product has a term of two years and offers full capital protection at maturity. However, price fluctuations may occur during this period. In addition, investors participate 50% in the performance of the index, with unlimited upside potential.

The capital protection note is open for subscription until 8 August, 2025, 16.00h CET.

Product details
USD denominated
24 months
100% Capital protection
50% Participation on S&P 500®

Valor: 147 479 782
Termsheet

Indicative terms

 

Disclaimer
This communication is for marketing purposes. It is neither an offer nor an invitation to submit an offer, to purchase or to subscribe to securities and does not constitute investment advice. You should consult your advisors before making an investment decision. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, financial condition, development or performance of the issuer to be materially different from any future results, financial condition, development or performance expressed or implied by such statements. The present document has not been drawn up by the research department as defined in the rules of the “Directives on the Independence of Financial Research” published by the Swiss Bankers Association, hence these rules do not apply to this document. If securities are mentioned in the communication, the base prospectus, the final terms and any key information document may be obtained free of charge from Zürcher Kantonalbank, Bahnhofstrasse 9, 8001 Zurich, VRIS, and from www.zkb.ch/finanzinformationen.
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