Thursday, 11 February 2021 Reading time : 3 minutes

ZKB Barrier Reverse Convertible on UBS, Credit Suisse and Julius Baer
Barrier Reverse Convertibles are particularly attractive as investment instruments when the underlying equities move sideways.

The shares of the three Swiss banks UBS, Credit Suisse and Julius Baer have recovered and performed positively since March 2020, but the momentum seems to be slowing down a bit. UBS is in a solid position with its broadly diversified business model and should benefit from its investments in the Asian growth market, while Julius Baer has managed a good track record of net new money acquisition and gross margin expansion. Credit Suisse also boasts a significant increase in net new assets. ZKB Equity Research rates all three stocks as "market weights". Investors who assume a sideways movement benefit from the attractive coupon of 10.00% p.a. and a safety buffer of 33.00%.

Key Data

• guaranteed coupon of 10.00% p.a.*
• conservative barrier at 67.00%*
• subscription period ends on 18.02.2021
• Termsheet

*indicative

 

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.