Swiss-headquartered wealth management (WM) group Julius Baer will exercise its option to redeem all of the outstanding perpetual tier-1 subordinated bonds at par value, plus accrued interest, on the first call date on September 24, in accordance with condition 3(c) of the terms of the bonds.

The bonds, with a coupon of 4.750% per annum, were issued by Julius Baer Group on September 12 2017 in the aggregate nominal amount of US$300 million.

Julius Baer, the leading Swiss WM group and a premium brand in this global sector, has a focus on servicing and advising sophisticated private clients. At the end of June 2024, assets under management amounted to 474 billion Swiss francs (US$547.79 billion).

Bank Julius Baer & Company, the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group, whose shares are listed on the SIX Swiss Exchange and are included in the Swiss Leader Index, comprising the 30 largest and most liquid Swiss stocks.