Friday, 23 January 2026 Reading time : 3 minutes

With two bonus certificates on ZKB's 2026 Equity Top Picks, investors can bet on a partial selection of the ten stock recommendations. Four stocks from the same sector are combined into the following two products:

• Bonus certificate on four pharmaceuticals: Dätwyler, Medacta, Roche and Siegfried
• Bonus certificate on four industrials: ABB, Accelleron, Amrize and Comet

Within these sectors, the companies cover a broad spectrum of business activities, with ABB offering access to global trends such as electrification and automation. Accelleron is a market leader in the global turbocharger industry, while Comet is well positioned to benefit from sustained growth in the semiconductor industry. 

In the pharmaceutical sector, Roche is generating optimism with positive drug trials. Medacta is successful with minimally invasive techniques for knee and hip joint implants, and Siegfried is one of the leading producers of small molecules, which are likely to find increased applications in the future. 

The two bonus certificates have a term of 18 months each and feature a 75% barrier, which is monitored at expiry (European barrier). Additionally, the products feature a bonus level and 1:1 participation. Specifically, this means that if the four shares of the respective product are trading above the barrier at maturity, the repayment will correspond to the bonus level or exceed it, provided that the value of the share basket is above the bonus level.

As this is a European barrier, whether one or more shares breach the barrier during the term is irrelevant for the repayment. Only the observation at the end of the term is relevant. If the barrier is breached at expiry, the weakest stock in the selection is delivered, resulting in a loss.

Bonus certificates are aimed at investors who want to achieve an appealing return, even if the price of the underlying stagnates or rises only slightly, without taking on the full risks of direct investment. In return, they forego potential dividend payments.

In subscription until February 5, 2026.

Bonus Certificate on Pharma: Dätwyler, Medacta, Roche, Siegfried
Bonus level: 120%
Barrier: 75% (European)
Term: 18 months
Currency: CHF
Valor: 151 092 453

Termsheet

Bonus Certificate on Industrials: ABB, Accelleron, Amrize, Comet
Bonus level: 118%
Barrier: 75% (European)
Term: 18 months
Currency: CHF
Valor: 151 092 454

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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