Kyobo Securities Issues 3 Billion Won K-ELS Series 11 Equity-Linked Derivative Securities with AA- Credit Rating and 80% Principal Protection at Maturity
Kyobo Securities is issuing the K-ELS Series 11 equity-linked derivative securities on July 8, 2026, linked to Samsung Electronics and SK Hynix common stocks, with a total offering of 3 billion won and 80% principal protection at maturity if knock-in occurs.
The product has a 3-year maturity, monthly coupon of 1.175% or 14.10% per annum, and auto-call features with step-down barriers of 85% for the first three calls and 75% for the last two.
Maximum loss is limited to 20% with a knock-in barrier of 40% of initial strike price, below which principal is reduced to 80%.
Issuer Kyobo Securities holds an AA- credit rating from Korea Investors Service and NICE Credit Ratings as of June 15, 2026.
The securities are not listed on any exchange, limiting liquidity, and early redemption is available at 95% of fair value or 90% within the first six months.
[AI Summary]This ELS issuance is a routine business activity for Kyobo Securities, with no direct impact on shareholder value. The small 3 billion won offering and AA- credit rating reflect stable financial health. Investors should be aware of potential principal loss due to underlying asset price movements.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)