Kyobo Securities Issues 9.93bn Won Principal-Guaranteed KOSPI200-Linked ELB

Kyobo Securities issues 9.93bn won (1,000,000 units at 9,930 won each) of 12350th series stock-linked derivative bond (low risk), maturity 2029.02.27, linked to KOSPI200.
Monthly coupon: 0.36% (4.32% p.a.) if underlying asset >= 80% of initial price (up to 36 payments, pre-tax).
Automatic early redemption: 5 semi-annual opportunities if underlying >= 95% of initial, redeem at 100% principal in cash.
Maturity: principal 100% guaranteed even if underlying < 95% of initial (principal-guaranteed type).
Maximum return: 12.96% (pre-tax) if all coupons paid + principal; minimum return: 0% if no coupons but principal repaid.
Issuer credit rating: AA- (Korea Ratings 2025.06.16, KIS 2025.06.17).
Unlisted, not protected by deposit insurance; early redemption at 95% of fair value (90% within 6 months), may incur principal loss.
Total offering 9.93bn won, issuance costs 496.5mn won, net proceeds 9,929.5mn won.

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