Mirae Asset Securities Files Shelf Registration Supplement for KRW 14.9 Billion Series 4024 Equity-Linked Bonds – Principal-Protected Monthly Income Product, AA Credit Rating Confirmed
Mirae Asset Securities filed a shelf registration supplement on July 1, 2026 for the issuance of series 4024 equity-linked bonds ELB.
The total offering amount is KRW 14.925 billion, with Samsung Electronics common stock as the underlying asset. The maturity date is July 18, 2029.
The product offers monthly coupons of 0.635% annualized 7.62% if the underlying price is above 60% of the initial price, and has five early redemption dates at the 75% barrier.
The bonds are principal-protected at maturity or upon early redemption, but investors face issuer credit risk and potential loss upon early redemption.
Mirae Asset Securities holds a AA credit rating from three major Korean agencies and maintains a sound financial position.
The proceeds will be used for hedging the underlying asset and investing in financial products.
[AI Summary]The effectiveness of the shelf registration supplement formalizes Mirae Asset Securities issuance of series 4024 ELB. The offering size is only 0.06% of market cap, resulting in no equity dilution, and the funds are allocated for hedging purposes, making the growth purpose neutral. With an AA credit rating, credit risk is low, but the unlisted structure implies liquidity risk that investors should consider.