With increased uncertainty in the stock markets, it can be challenging to find investment opportunities with risk-reducing but still attractive characteristics. This is where barrier reverse convertibles with defensive parameters can be suitable. Increased volatility provides attractive option premiums while defensive barriers reduce the likelihood of a barrier being breached.

The shares of these three companies are rated "overweight" by ZKB Equity Research.

In this webcast, Curdin Summermatter, Head of Sales Structured Products, together with Jan Elmer, Senior Portfolio Manager Asset Management, will give you an insight into the topic of "Real Estate".

Improving cost efficiency could boost their stocks again. Slowing inflation, normalization of supply chains, and the economic potential of various AI technologies also seem to have encouraged investors - since early 2023, the biggest tech stocks have been moving in an upward channel again.

Whether bull or bear market, our most important ambition is to provide our customers with competent and trustworthy support in all market phases. In 2023, we will continue our efforts and look forward to accompanying you with the highest quality of service and the stability of Zürcher Kantonalbank.

The Revserse Convertibles on the individual shares of the Top Stock Picks 2023 are suitable for investors who wish to invest specifically in individual components of this year's selection. If the price of the underlying is above the strike at the end of the product's term, the full capital invested is repaid in addition to the coupons. If the price of the underlying is below the strike - which is 90% for all of the following products - the underlying is delivered in addition to the coupon.

The new tracker certificate on the "ZKB Top Picks 2023" combines ten of the most promising Swiss stocks according to research by Zürcher Kantonalbank. The aim of this base composition is to achieve an above-average performance compared to the overall market (SPI® Index).

Changes in the interest rate environment and falling volatility, while at the same time the market outlook remains quite uncertain: capital protection products are suitable in such situations. Market developments - rising interest rates and cheaper call options - make attractive conditions possible; with full capital protection, participation of 100% in the price performance of the SMI® is possible for three years. Particularly attractive: the upside participation is unlimited.

The Swiss Market Index is still trading at almost -14% YTD. However, the last few weeks have been characterized by an upward trend - market participants seem to be cautious, but nevertheless optimistic about future developments. Volatility is dropping back towards the long-term average after some highs. The ZKB Cushion Downside Certificate on the SMI® meets the requirement for downside protection. If the index develops positively after the start date of the product, investors participate fully in its performance. However, if the index falls below the intial value during the term, the downside participation is limited to 60% - thus reducing the potential loss compared to direct investment.