As a relative “newbie” to Kassenobligationen (I chose Cembra), I’d like to learn a bit about these bonds, so if you’ve bought bonds would appreciate “more details” 
So, as an example, I found this bond CEMBRA CV 19-26, ISIN: CH0486598227 Symbol: CMB19 which currently trades at 95.70 CHF
expires in July 2026, 0% interest.
- I buy today for 95.7 and get 100 in July 2026, correct? So approx 2% p.a.
- Tax-free, as it’s a capital gain?
- Do I buy at any Swiss broker? And usual fees like for stocks, say at Swissquote, Fr 100 for 25k? Is this trading fee also charged when it expires, or is that “free”?
- Does the “smallest tradable amount” of the bond of 200k not apply (in the bond details, when found via your link)?
- In the bond details it shows an “average spread” of 0.58%. Is this realistic? So for the price shown of 95.7, I would expect to pay 95.7+0.6= CHF 96.3? Or 95.7 + 0.5*0.6 = CHF 96? If held to expiry in July 2026 no spread i.e. 100?
- If you can’t comment on Swissquote fees, which broker did you use, and what were typical costs incurred?
Comparable Kassenobligation (Cembra, 2y) would be 1.6% less tax on this income = 1.2%.
Fees = 0