Kiwoom Securities Issues New ETNs: Power Top 5 Leveraged and Semiconductor Inverse 2X (Total KRW 40bn)

Kiwoom Securities (credit rating AA) issues two ETNs: Power Top 5 Leveraged (Series 26) and Semiconductor Inverse 2X (Series 28), totaling KRW 40bn (KRW 20bn each).
Series 26 tracks iSelect Power TOP5 TR Leverage Index (2x), Series 28 tracks FnGuide Semiconductor TOP10 Inverse (2x) Index (-2x).
Issue price: KRW 20,000 per security, maturity: February 9, 2029, listing on KRX (expected May 12, 2026).
Total expense ratio: 0.95% annually (management fee 0.22%, index license fee 0.04%, admin 0.02%, other 0.67%).
Non-principal protected, not covered by deposit insurance, issuer credit risk exists.
Early redemption available (min 50,000 securities, fee 2.0%), early liquidation triggers: IIV drop >80% from previous day or below KRW 1,000.
Dividends reinvested, no cash distribution.
Leveraged/inverse products carry compounding decay risk and increased volatility risk.