Shinyoung Securities Issues KRW 44.7 Billion in Derivative-Linked Bonds

Shinyoung Securities (credit rating AA-) issued 5 tranches of derivative-linked bonds totaling KRW 44,667,942,500 on May 11, 2026.
Tranches 312-314 are KRW-denominated with normal risk; 315-316 are USD-denominated with somewhat high risk.
Maturity yields (pre-tax) are KRW 2.90-3.21% and USD 3.60-3.61%, differentiated based on whether the 3-month KTB rate exceeds 6% or not.
Maturity dates: Aug 24, 2026 (312/315), Nov 23, 2026 (313/316), and May 24, 2027 (314).
These bonds are not deposit-insured, not listed on any exchange, and early redemption is at 90%+ of fair value but may result in principal loss.