Kyobo Securities Issued 6.71 Billion Won in ELS 12324

Kyobo Securities issued ELS 12324 linked to KOSPI200, raising 6.71 billion won (676,000 securities at 9,930 won each), 67.6% of the planned 9.93 billion
Conditional monthly coupon 0.3675% (4.41% p.a.) if underlying >=85% of initial; auto-call every 6 months at 100% principal if >=95%; maturity principal protection (100%)
Issuance cost: 335,630 won distribution fee; proceeds used for hedging derivatives
Unlisted, electronic registration; minimum subscription 1 million won; issuance may be canceled if total subscriptions <300 million won

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