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Thursday, 20 July 2023
Reading time : 1 minute
Yield Enhancement

Das Rückgrat der Schweizer Wirtschaft

As one of the most competitive countries in the world, Switzerland is home to a large number of companies in various industries and sectors. The media focus on large companies sometimes makes us forget that almost 60% of value added is generated by SMEs, which also account for over two-thirds of jobs - and thus fundamentally shape the domestic economy.
Thursday, 6 July 2023
Reading time : 2 minutes
Yield Enhancement

Attractive Coupon with Swisscom, Swiss Life and Julius Bär

Barrier Reverse Convertibles allow for an attractive yield while reducing risk compared to direct investments.
Monday, 19 June 2023
Reading time : 1 minute
Investment Ideas

Capital Protection with Participation on Indices

When it comes to capital-protected products, investors benefit from the positive performance of the underlying at expiry, with at least the guaranteed minimum repayment being made at maturity.

For the following products under subscription, the capital is fully protected, meaning that investors are repaid at least their invested capital at expiry. At the same time, they participate in the positive performance of the underlying asset without any upper barrier.

 

Wednesday, 31 May 2023
Reading time : 2 minutes
Investment Ideas

Gold on the rise: Realize profits & participate with capital protection

Right now, it may be worthwhile to take profits and hedge part of the portfolio with a capital protection certificate on gold. It allows 100% participation in the performance of the ZKB Gold ETF, which is fully physically backed. If the upper barrier of 120% is exceeded during the term - which would currently correspond to a price of approx. USD 2,350 per ounce - investors not only receive the full capital invested back at maturity: the capital is CHF protected to 101% - regardless of how the gold price develops, the certificate generates at least 1% return.
Wednesday, 31 May 2023
Reading time : 2 minutes
Theme Investing

ZKB Quality Equity Certificate

The situation on the markets is confusing: While the US is struggling to raise the debt ceiling, the DAX recently marked a new all-time high. At the same time, there is a large discrepancy in the performance of individual stocks - for example, the US market has been driven primarily by a few stocks over the past 6 months. Against the backdrop of geopolitical and macro-economic uncertainty, the development of interest rates is fraught with question marks. In this environment, our tracker certificate combines 25 selected quality companies with pricing power and/or strong market position, which should perform well even in a challenging environment thanks to defensive characteristics.
Wednesday, 17 May 2023
Reading time : 1 minute
Yield Enhancement

Richemont with good results

The luxury goods group not only grows more strongly than its major rival LVMH in the first quarter of 2023, but also exceeds the sales growth of the industry. The good market position is further strengthened, the dividend is set above analysts' estimates. The share price performance is also impressive (+28% YTD). ZKB yield enhancement products on Richemont shares can be suitable for investors who expect a slowdown in share price but still want to take advantage of yield opportunities.
Thursday, 11 May 2023
Reading time : 3 minutes
Yield Enhancement

Correlation as a return driver

Not only the implied volatility of a basket of stocks influences the return of a BRC, the correlation of the stocks in a basket can also push the option price up or down. The closer the correlation is to 1, the more similar the price movements of these stocks. The resulting reduced probability of a barrier hit is reflected in the option premium, which is lower compared to less correlated baskets. With lower basket correlations, the option premium - and thus the coupon of a BRC - rises.
Thursday, 27 April 2023
Reading time : 2 minutes
Yield Enhancement

Strong Q1 Results, attractive Opportunities

The reporting season is on, with listed companies presenting their results for the past quarter in the days to come. Some of these companies have already presented strong results, including some blue chip firms from Switzerland.
Monday, 24 April 2023
Reading time : 2 minutes
Yield Enhancement

Barrier Observation at Maturity: Last Look BRC

"Last Look BRC" have the characteristic that the barrier is not relevant until the expiration of the BRC, until then no barrier events can take place - price declines, where the barrier is temporarily undercut, have no effect on the payout,
Friday, 17 March 2023
Reading time : 2 minutes
Yield Enhancement

10% p.a. with Sika, Swiss Life and Lonza

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.

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