On 16 November 2017 St.Galler Kantonalbank AG (SGKB) launched, and on 30 November 2017 successfully completed, the issuance of CHF 100 million 1.70 per cent. Perpetual Additional Tier 1 Notes and CHF 100 million 1.00 per cent. Tier 2 Notes due 2027 (collectively, the Notes). The Notes are governed by Swiss law, eligible to count towards SGKB’s Swiss going concern requirement, and exempted from the Swiss withholding tax regime. They will be listed on the SIX Swiss Exchange. Zürcher Kantonalbank acted as Sole Structuring Advisor and Lead Manager on the transaction.