Kyobo Securities Issues 100 Billion Won ELS Linked to Samsung and SK Hynix
Kyobo Securities issues 100 billion won of the 12496th ELS (normal risk) linked to Samsung Electronics and SK Hynix (10,000 won per security, 1,000,000 securities total).
Monthly coupon: if both underlying close above 70% of initial price, pay 0.805% per month (9.66% p.a.), up to 36 payments.
Principal: automatic early redemption at 85% barrier on 11 semi-annual dates (100% of principal); at maturity, even if below 85%, principal of 100% is paid (principal-guaranteed).
Issuer credit rating: AA- (Korea Ratings 2025.06.16, KIS 2025.06.17).
Risks: not deposit-insured, unlisted, early redemption may cause loss (≥90% of fair value within 6 months, ≥95% thereafter).
Minimum subscription: 1 million won; issuance may be cancelled if total subscription <300 million won. Issue date 2026.05.14, maturity 2029.05.17.