Yes it does, use the Pitch glide and set to 100% wet and -1 semitone. It sounds great with (distorted)chords and I use it instead of of retuning my double locking trem. I am really enjoying playing along to all my early nineties rock thats been in the cupboard for years.

It might not sound perfect with clean signals or if you change the pitch too much but down just a semi tone works great. Put the pitchglide first in the signal chain to get the best results.