diff --git a/CHANGES.md b/CHANGES.md
index 347aae8f67d671685b31ffdc46cca549abdba278..56d1a5a7d7bd0ab64d38e52a988f466357c11462 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,5 +1,5 @@
-Synapse 1.59.0rc2 (2022-05-16)
-==============================
+Synapse 1.59.0 (2022-05-17)
+===========================
 
 Synapse 1.59 makes several changes that server administrators should be aware of:
 
@@ -10,6 +10,18 @@ See [the upgrade notes](https://github.com/matrix-org/synapse/blob/develop/docs/
 
 Additionally, this release removes the non-standard `m.login.jwt` login type from Synapse. It can be replaced with `org.matrix.login.jwt` for identical behaviour. This is only used if `jwt_config.enabled` is set to `true` in the configuration. ([\#12597](https://github.com/matrix-org/synapse/issues/12597))
 
+
+Bugfixes
+--------
+
+- Fix DB performance regression introduced in Synapse 1.59.0rc2. ([\#12745](https://github.com/matrix-org/synapse/issues/12745))
+
+
+Synapse 1.59.0rc2 (2022-05-16)
+==============================
+
+Note: this release candidate includes a performance regression which can cause database disruption. Other release candidates in the v1.59.0 series are not affected, and a fix will be included in the v1.59.0 final release.
+
 Bugfixes
 --------
 
diff --git a/debian/changelog b/debian/changelog
index 7f9bedd7ac0eb8023bc4d0b94add7c1cf919ffa3..cc6152d5b314deff170d6a6f42f7e68a44b9e330 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.59.0) stable; urgency=medium
+
+  * New Synapse release 1.59.0.
+
+ -- Synapse Packaging team <packages@matrix.org>  Tue, 17 May 2022 10:26:50 +0100
+
 matrix-synapse-py3 (1.59.0~rc2) stable; urgency=medium
 
   * New Synapse release 1.59.0rc2.
diff --git a/pyproject.toml b/pyproject.toml
index 1a2ddddb1010c304e2d978a5341d5d7ad18d6bb1..e600a1d52e4bfd134063526bf8d50b16ed658b7c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -54,7 +54,7 @@ skip_gitignore = true
 
 [tool.poetry]
 name = "matrix-synapse"
-version = "1.59.0rc2"
+version = "1.59.0"
 description = "Homeserver for the Matrix decentralised comms protocol"
 authors = ["Matrix.org Team and Contributors <packages@matrix.org>"]
 license = "Apache-2.0"
diff --git a/synapse/storage/databases/main/stream.py b/synapse/storage/databases/main/stream.py
index 944e2a5b0bac3b7100abf60a75e51fb25fe520d9..0e3a23a1409c77599dec98518f109f680bb088f8 100644
--- a/synapse/storage/databases/main/stream.py
+++ b/synapse/storage/databases/main/stream.py
@@ -750,7 +750,7 @@ class StreamWorkerStore(EventsWorkerStore, SQLBaseStore):
                 WHERE room_id = ?
                     AND stream_ordering <= ?
                     AND NOT outlier
-                    AND rejections.reason IS NULL
+                    AND rejections.event_id IS NULL
                 ORDER BY stream_ordering DESC
                 LIMIT 1
             """