Mirae Asset Securities Issues KRW 9.95B Principal-Protected ELB Linked to KOSPI200 – Routine Funding, Limited Impact on Shareholder Value
Mirae Asset Securities issues the 3985th series of Equity-Linked Bonds (ELB) linked to the KOSPI200 index, with a total issue amount of KRW 9.95B (issue price per bond: KRW 9,950, 1 million bonds).
The ELB features principal protection (at least principal repaid at maturity or auto-call) and is classified as low risk (risk grade 5).
Auto-call conditions: every 6 months, if KOSPI200 closes at or above 90% of the initial strike, the bond is called and pays an annualized 8.15% return (pre-tax).
At maturity, if KOSPI200 is at or above 90% of initial, the bond pays 124.45% of face value (24.45% total return); if below, 100% principal is repaid.
Proceeds from the issuance will be used for hedging and financial investment. This is a routine funding activity with negligible impact on shareholder value.
[AI Summary]The issuance of Mirae Asset Securities' 3985th ELB is a routine funding activity within the existing shelf registration, with an amount (KRW 9.95B) negligible relative to the market cap (approx. KRW 34.4T), thus having virtually no impact on shareholder value. The product is principal-protected and low-risk, with limited additional risk beyond the issuer's credit risk.