Shinyoung Securities Issues KRW 100bn High-Risk ELS Linked to NVIDIA & Palantir (Non-Principal Protected, Very High Risk)

Total offering amount: KRW 100bn; face value: KRW 10,000; maturity: 3 years (Feb 9, 2029); principal not guaranteed.
Underlying assets: NVIDIA common stock, Palantir Technologies common stock (listed on NASDAQ).
Investment risk rating: 'Very High Risk'; classified as high-difficulty financial product.
Automatic early redemption conditions: 1st: 85%, 2nd~4th: 80%, 5th: 70% (annual yield 20.20%).
Maturity redemption: if both underlyings are above 65% of initial price, annual yield 20.20%; if knock-in (below 30% anytime) and below 65% at maturity, loss = maximum decline of the worst performer (up to 100% loss).
Historical simulation: ~98.52% chance of profit (1,198 out of 1,216 early/maturity redemptions), loss probability 1.48% (18 cases), average loss rate -50% to -60%.
Issuer: Shinyoung Securities, credit rating AA- (stable); not listed, not covered by deposit insurance.
Early redemption upon request: at least 95% of fair value (90% within 6 months) but may incur principal loss.
Theoretical price: KRW 9,611.60 (approx. 3.9% undervalued vs. issue price of KRW 10,000).

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