Samsung Securities Issues Inverse 2X KOSDAQ 150 Futures ETN Issue No. 107 (Non-Principal Protected, High Risk)
- Issuance overview: Samsung Securities issues ETN No. 107 linked to KOSDAQ 150 Futures TWAP Inverse 2X Index, totaling KRW 400 billion (KRW 20,000 per security, 20 million securities). Issue date 2026-02-04, maturity expected 2027-10-20.
- Fees & costs: Annual total expense ratio 0.40% (management fee 0.05%, index license fee 0.05%, admin fee 0.04%, others 0.26%). Early redemption fee 1.0%.
- Risk factors: Non-principal protected, very high risk grade (1). Inverse 2X leverage may lead to total loss if underlying index fluctuates significantly. Daily compounding effect makes long-term holding unsuitable. Early termination conditions include 80% drop in IIV or IIV below KRW 1,000.
- Issuer credit: Samsung Securities credit rating AA+ (NICE, 2026-01-23). Not covered by depositor protection; subject to issuer credit risk.
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KOSPI Filing Information
- Filing: Bulk Registration Additional Document (Derivative-Linked Securities - Exchange Traded Securities)
- Company: Samsung Securities (016360)
- Submission: Samsung Securities Co., Ltd.
- Receipt: 02-04-2026