Kyobo Securities Issues KRW 30bn Equity-Linked Bonds (ELB)

Issue size: KRW 30 billion, face value KRW 10,000, maturity 2029-05-16 (3 years), underlying asset: KEPCO common stock
Monthly coupon: 0.66% (annual 7.92%) paid if underlying closes at or above 85% of initial price; otherwise no coupon
Automatic early redemption: evaluated semi-annually, if underlying at or above 100% of initial price, redeemed at 100% of face value
Maturity redemption: principal fully repaid regardless of underlying price (principal protected)
Issuer credit rating: AA- (Korea Ratings, NICE Ratings as of June 2025)
Unlisted; early redemption possible but at 90-95% of fair value, may incur principal loss
Not covered by deposit insurance; issuer credit risk exists