NH Investment & Securities Issues ELB Series 2814 Linked to Hyundai Motor, Raising 14.98B KRW with Max Annual Coupon 7.38%
NH Investment & Securities Co., Ltd. issues ELB Series 2814 linked to Hyundai Motor common stock, raising a total of KRW 14.98 billion (USD 9.95 million at an exchange rate of 1,505.80 KRW/USD).
Issue price: USD 99.5 per security (face value USD 100), maturity on June 12, 2029, unlisted product.
Structure: Monthly coupon of 0.615% (max 7.38% p.a.) if underlying closes at or above 65% of initial strike on monthly evaluation dates; autocall every 6 months if at or above 80% (repayment of principal plus accumulated coupons); at maturity, if at or above 80%, full principal; if below, principal loss possible (0% return).
Issuer: NH Investment & Securities (credit rating AA+ by Korea Corporate Rating, March 25, 2026). This product is not covered by the Depositor Protection Act, and principal loss is possible.
Proceeds will be used for hedging and investment in high-grade bonds and derivatives. Issuance may be cancelled if total subscriptions fall below USD 1 million.
Underlying asset (Hyundai Motor): 20-year high of KRW 712,000 (May 14, 2026), low of KRW 37,100 (Nov 25, 2008), volatility 70.99%.
This filing is a supplementary shelf registration; offering is part of the remaining KRW 3.36 trillion shelf capacity (period Dec 16, 2025 – Dec 15, 2026).
[AI Summary]The ELB issuance by NH Investment & Securities is a routine business activity with no impact on capital structure or shareholder dilution, thus neutral for existing shareholders. However, the high volatility (70.99%) of the underlying Hyundai Motor stock and the non-principal-protected structure pose risks for investors, while the issuer may benefit from fee income and hedging activities.