Mirae Asset Securities Issues KRW 29.7 Billion ELS Series 36672 Principal-Protected Not Guaranteed Step-Down Auto-Callable Structured Note
Mirae Asset Securities is issuing KRW 29.7 billion of its 36672th series Equity-Linked Securities ELS with subscription on June 26 2026. This product is linked to three indices EuroStoxx50, S&P500 and Nikkei225 and offers a monthly coupon of 0.75% annual 9% over a 3-year maturity but is a high-difficulty principal non-guaranteed investment.
The issuance may be cancelled if total subscription falls below KRW 495 million and the securities are unlisted which limits liquidity. The issuer Mirae Asset Securities has a credit rating of AA but this product is not protected by the depositor protection act and carries the risk of total loss of principal.
The proceeds will be used for hedging transactions and financial investments which does not create direct shareholder value. No share buyback or cancellation is announced in this filing. Financial soundness indicators like BIS ratio should be referenced from separate quarterly reports.
[AI Summary]Mirae Asset Securities ELS issuance is a debt-like capital raise with no dilution to existing shareholders making its impact on equity capital neutral. Fund usage for hedging is defensive rather than growth-oriented and the AA credit rating provides counterparty confidence but the principal non-guarantee and illiquidity risk are significant investor concerns.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)