Kyobo Securities Files Shelf Registration Supplement for 29.7 Billion Won High-Risk Global Index-Linked ELS, No Capital Change, Neutral Impact on Shareholder Value
Kyobo Securities filed a shelf registration supplement on July 15, 2026, for its 13646th Equity-Linked Securities ELS worth 29.7 billion won, linked to S&P500, EUROSTOXX50, and NIKKEI225 indices, classified as high risk grade 2.
This ELS is a principal non-guaranteed high-difficulty financial product with a step-down autocall structure from 85% to 70%, a monthly coupon of 8.31% per annum, and potential for up to 100% principal loss if the underlying assets fall below 55% of the initial strike at maturity.
This issuance does not involve new share issuance, so there is no dilution for existing shareholders. The proceeds will be used for hedging underlying assets and investing in financial instruments. Kyobo Securities maintains an AA- credit rating from Korea Ratings and NICE Credit Ratings as of June 15, 2026.
For fiscal year 2025, Kyobo Securities reported consolidated net income of 142.9 billion won and total equity of 2.1189 trillion won. The annual dividend for 2025 was 550 won per share for other shareholders.
[AI Summary]The issuance of Kyobo Securities 13646th ELS is a routine funding and hedging operation with no capital change, neutral to shareholder value. The AA- credit rating provides issuance credibility, but investors should be aware of the high-risk nature and potential for principal loss.
KOSPI Filing Information
Additional Documents for Shelf Registration (Derivative-Linked Securities - Equity-Linked Securities)