NH Investment & Securities Files Supplementary Shelf Registration for 11 ELS Series
NH Investment & Securities (credit rating AA+) files supplementary shelf registration for 11 ELS series (Nos. 24431-24441) out of remaining 8.84 trillion won in 10 trillion won shelf limit
Total offering approx. 72 billion won (5-10 billion per series); underlying assets include domestic/global indices (KOSPI200, S&P500, EuroStoxx50) and individual stocks (Tesla, Palantir, Samsung Electronics, SK Hynix, Hyundai Motor, Broadcom, Micron)
Non-principal protected high-difficulty financial investment product; maximum principal loss 100%; not covered by depositor protection
Auto-call structure (step-down barriers) with knock-in conditions (barriers 25%~45%)
Issuance conditions: cancellable if total subscriptions < 1 billion won; unlisted; early redemption possible (90-95% of fair value)
Most underlying assets at or near all-time highs in last 6 months; historical scenario analysis shows majority of scenarios result in early redemption