Hanwha Investment & Securities issues KRW 14.85 billion Hanwha Smart ELS Series 8311 linked to S&P500, Nikkei225, EuroStoxx50 with 3-year maturity
Hanwha Investment & Securities is issuing KRW 14.85 billion in equity-linked securities ELS Series 8311. The product is linked to the S&P500, Nikkei225, and EuroStoxx50 indices with a 3-year maturity.
Monthly coupon of 0.71% per month 8.52% per annum is paid if all underlying indices are at or above 60% of their initial strike. Auto-call features allow early redemption at par if certain thresholds are met. At maturity, if any index falls below 50% of its initial level, principal losses may occur up to total loss.
The securities are unsecured and unguaranteed, not covered by deposit insurance, and carry full principal risk. The issuer has a credit rating of AA- from NICE, but early redemption may result in losses. Proceeds are used for hedging purposes.
[AI Summary]This ELS issuance is a routine business activity for Hanwha Investment & Securities, raising funds for hedging without equity dilution. The small issuance size has negligible impact on shareholder value, and the issuer's AA- rating ensures counterparty stability.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)