EQS Group-Ad-hoc: Leonteq AG / Key word(s): Agreement
PRESS RELEASE | LEONTEQ GAINS BASLER KANTONALBANK AS NEW WHITE-LABELLING PARTNER
Zurich, 30 April 2020
Leonteq AG (SIX: LEON) announced today that it has entered into a broad cooperation agreement with Basler Kantonalbank in the area of structured investment products.
At the end of April, Leonteq and Basler Kantonalbank agreed to work together in the area of structured investment products. As part of this cooperation, Basler Kantonalbank will act as the issuer of structured investment products, while Leonteq will provide services along the value chain.
Lukas Ruflin, Chief Executive Officer of Leonteq, stated: "We are pleased to have gained Basler Kantonalbank as a new partner and to be able to offer our clients structured investment products from one of the best-rated issuers in Switzerland."
The structured investment products issued by Basler Kantonalbank will be distributed by Basler Kantonalbank and Leonteq to their respective clients in Switzerland. The first product will already be available for subscription from next Monday. The offering of Basler Kantonalbank products will be gradually expanded on Leonteq's multi-issuer platform by the end of 2020.
Luca Pertoldi, Deputy CEO and Head of Distribution Commercial Clients at Basler Kantonalbank, commented: "The digital transformation of our business model is a cornerstone of our Strategy 2018 to 2021. With its state-of-the-art tools and innovative solutions, Leonteq will help us to achieve our ambitious goals and expand our structured product capabilities."
Basler Kantonalbank is one of the largest Swiss cantonal banks, with total assets of CHF 27.3 billion and a total capital ratio of 20.0% as of end 2019. It has an AA+ issuer rating from Standard & Poor's and a state guarantee from the Canton of Basel-Stadt.
This press release may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "target" "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company or any of its affiliates or subsidiaries and those explicitly or implicitly presumed in these statements. These factors include, but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends, (2) movements in securities markets, exchange rates and interest rates and (3) other risks and uncertainties inherent in our business. In addition, currently, it is very difficult to provide a meaningful prediction on how the governmental actions in response to the ongoing outbreak of a novel coronavirus disease (COVID-19) and other COVID-19 related factors will affect Leonteq's operations and how long such measures will remain in place. The COVID-19 outbreak has caused, and may continue to cause, uncertainty, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the COVID-19 outbreak on the general economic environment in the markets in which Leonteq operates remain uncertain and could be significant. Against the background of these uncertainties, you should not rely on forward-looking statements. Neither the Company nor any of its affiliates or subsidiaries or their respective bodies, executives, employees and advisers assume any responsibility to prepare or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this press release or to adapt them to any change in events, conditions or circumstances, except as required by applicable law or regulation.
End of ad hoc announcement
1032961 30-Apr-2020 CET/CEST