Mirae Asset Securities Launches 30 Billion Won DLS Linked to Treasury Rate
Mirae Asset Securities filed a prospectus on July 3, 2026 for three DLS tranches totaling 30 billion won under its existing shelf registration, and the registration became effective.
Each of the three DLS issues targets 10 billion won, linked to the 3-month Korean Treasury rate. If the final fixing is below 8%, investors receive annual returns of 3.15% to 3.65%; if at or above 8%, principal is repaid at 99% resulting in a 1% loss.
Maturities are 6 months, 9 months, and 12 months. Subscription runs from July 6 to July 15, with payment and issuance on July 16. Proceeds will be used for underlying asset trading and derivative hedging.
The issuer holds an AA credit rating from all three major Korean agencies. The securities are not listed on any exchange, limiting liquidity, and early redemption may incur principal losses.
[AI Summary]This DLS offering is a routine funding activity under an existing shelf registration, causing no dilution to existing shareholders. Given the issuer's strong credit and sound financials, investor protection is adequate, but note that the product is not deposit-protected and carries a maximum 1% principal loss risk.