Kyobo Securities Files for KRW 29.7 Billion ELS Issuance
Issuance of Kyobo Securities 13592th Equity-Linked Securities (High Risk): total offering of KRW 29.7 billion, issue price KRW 9,900, face value KRW 10,000.
Monthly coupon condition: If all underlying asset closing prices are at least 60% of initial strike, pays 0.6925% per month (8.31% p.a.). Maximum pre-tax return: 24.93%.
Auto-call conditions: Step-down barriers from 85% (1st) to 70% (5th); early redemption at 100% face value. Non-principal protected.
Maturity redemption: If all underlying assets are at least 55% of initial strike, full principal; otherwise, principal loss proportional to worst performer (up to 100% loss).
Issuer credit rating: AA- (Korea Ratings, NICE Investors Service, June 2025). Not covered by depositor protection. Early redemption at 95%+ of fair value (90%+ within 6 months).