Mirae Asset Securities filed a supplementary shelf registration to issue KRW 60 billion worth of 'Mirae Asset Inverse 2X KOSPI200 Futures Index ETN B Series 117'.
This ETN tracks the KOSPI200 Futures TWAP Inverse-2X Index on a daily -2x leveraged basis, and is principal unprotected.
Issue price is KRW 30,000 per security, total 2 million securities, maturity on May 23, 2031.
All securities will be allocated to Mirae Asset Securities as the liquidity provider (LP) for market making; no public subscription is allowed.
Total fees and expenses are 0.50% p.a., comprising management fee 0.20%, index license fee 0.06%, administrative fee 0.02%, and other costs 0.22%.
Risk rating is Grade 1 (Very High Risk). Due to leverage and inverse structure, negative compounding and premium/discount risks exist; not suitable for long-term investment.
The underlying index reflects futures rollover costs; in contango markets, additional losses may occur.
This filing is part of routine ETN issuance and does not directly affect Mirae Asset Securities' financials or shareholder value.
[AI Comprehensive Analysis]This is a routine ETN issuance disclosure with no impact on the company's core value, dividends, or capital policy. The effect on short-term stock price or long-term enterprise value is neutral. Investors should focus on product-specific risks such as leverage, premium/discount, and rollover costs.