Zürcher Kantonalbank redeems Additional Tier 1 bond and plans to issue new Additional Tier 1 bond

_{Zürcher Kantonalbank is calling the Additional Tier 1 bond with a notional amount of CHF 590 million as of 30 June 2017 and intends to issue a new Additional Tier 1 bond.}

Zürcher Kantonalbank is today announcing the redemption of its Additional Tier 1 (AT1) bond with contingent write-down (ISIN: CH0143808332) as of the first call date on 30 June 2017. The redemption price will be equal to the notional amount of CHF 590 million together with accrued interest up to the first call date.

At the same time, Zürcher Kantonalbank intends to issue a new AT1 bond with comparable structure. The new bond's payment date is expected to fall on the outstanding bond’s redemption date. The launch of the new AT1 bond as well as its final terms will depend on market conditions.