Canton of Zurich - 100M CHF Token

Overview

The Canton of Zurich, Switzerland, launched an 11-year CHF digitally-native bond with a total issue volume of CHF 100 million and a maturity in 2034. The bond is being issued on the Distributed Ledger Technology (DLT) based SIX Digital Exchange (SDX) and can be held in both Central Securities Depositories of SDX and of SIX (SIX SIS). In addition, as a dual listed bond, this instrument will be listed and tradable at both SIX Digital Exchange and SIX Swiss Exchange.

Issuer(s): Canton of Zurich
Issuer Agents: Basler Kantonalbank and Zürcher Kantonalbank (ZKB)
ISIN : CH1306117073
Date: 12/1/2023
Country/Jurisdiction: Switzerland
Size (Native Currency): 100M CHF
Size (USD): $113M
Denomination (Native Currency): 5,000 CHF
Minimum Investment (Native Currency): 5,000 CHF
Length: 11 Years
Coupon: 1.45%, annual
Maturity Date: 12/1/2034

Settlement uses the Swiss franc wholesale CBDC as part of the Project Helvetia III central bank digital currency (CBDC) project. Helvetia is a limited time initiative allowing the use of the CBDC through to June 2024.