Investors/Media

The Swiss Pfandbrief® is a bond in the form of an uncertificated security. It bears interest at a fixed rate for a specified term. Pfandbriefe are collateralised by property mortgages. They therefore offer maximum security. Pfandbriefs are listed on the Swiss stock exchange (SIX) and can be traded at any time. At maturity, repayment of the Pfandbrief is guaranteed at par value. Since its foundation in 1931, Pfandbriefzentrale has always fulfilled its obligations on time and in full.

Disclaimer
The information published on the PBZ websites (in particular the term sheets with the final conditions) is for information and marketing purposes only. It does not constitute advice (from a legal, tax, financial or other point of view) or a recommendation or offer to purchase or sell products or to conduct or conclude any other kind of transaction. We also refer to the sales restrictions contained in the respective base prospectus.

The Pfandbriefzentrale der Schweizerischen Kantonalbanken AG, founded in 1931, regularly issues mortgage-backed bonds and grants loans to cantonal banks for the co-financing of their mortgage business against registered pledge coverage in the same total amount, in the same currency (CHF), at largely identical interest rates (interest margin to cover ongoing costs) and with the same maturity. In the case of registered liens, the debt claims from the Pfandbriefe or mortgage-covered loans, including any interest outstanding thereon, enjoy a statutory lien on the coverage recorded and segregated in the register of collateral of the member banks.

Pfandbriefzentrale’s chain of protective measures

The protection offered by Pfandbriefzentrale covered bonds is five-fold:

• The Pfandbriefzentrale, with its capital, assumes primary liability.
• Secondly, the cantonal banks are liable for their loan subscriptions.
• In most cases, the cantons guarantee the commitments of their respective cantonal banks.
• Mortgage borrowers are liable to the cantonal banks on the one hand
• and on the other hand, the cantonal banks have a lien on their mortgaged properties.

Finally, Pfandbriefzentrale bonds hold the highest rating from the rating agency Moody’s and Zürcher Kantonalbank. This means maximum protection for investors.

Connection to the banking ombudsman’s office

The Pfandbriefzentrale joined the Swiss Banking Ombudsman in 2025. This provides a neutral information and mediation centre without legal jurisdiction for questions and/or complaints. The procedure before the Banking Ombudsman is a voluntary, out-of-court procedure for customers to resolve disputes.

The Banking Ombudsman is neutral and acts as an independent mediator. The Banking Ombudsman is not a state court. Instead of a judgement, the Banking Ombudsman submits a mediated solution to the parties in dispute. This is not binding and the parties are free to decide whether they wish to follow it or other steps, such as legal action.

The contact details of the Swiss Banking Ombudsman are as follows:

Swiss Banking Ombudsman
Bahnhofplatz 9
P.O. Box
8021 Zurich

Telephone 08.30 – 11.30 a.m.
+41 43 266 14 14 (German / English)
+41 21 311 29 83 (French / Italian)
www.bankingombudsman.ch

In addition, the Secretary to the Board of Directors of the Pfandbriefzentrale acts as an independent internal complaints review body. Whenever possible, the Pfandbriefzentrale attempts to find an amicable solution with the customer