Mirae Asset Securities Issues 3986th ELB Linked to KOSPI200, 9.99 Billion KRW, 1-Year Fixed Return of 3.5%
Mirae Asset Securities (credit rating AA) issues 3986th ELB linked to KOSPI200 index, totaling 9.99 billion KRW. Subscription period is June 15, 2026; maturity is June 15, 2027 (1 year).
With underlying KOSPI200 volatility at 64.6%, the fixed return structure pays 3.50% p.a. if the final price is below 200% of initial, or 3.51% p.a. if above.
This ELB is not protected by depositor insurance and is unlisted, thus illiquid. Early redemption by investor is at 95% of fair value (90% in first 6 months), but may incur principal loss.
Proceeds will be used for hedging and financial investments. No direct impact on existing shareholders.
[AI Summary]This ELB issuance is a routine funding activity for Mirae Asset Securities, amounting to only 0.03% of market cap, with negligible effect on shareholder value. Issuer risk is low given AA rating, but investors should note the non-principal protection and liquidity constraints.