Hanwha Investment & Securities Issues KRW 4 Billion Samsung Electronics-Linked ELB #1070 (3.40% p.a. Principal Protected)
- Hanwha Investment & Securities issued the Hanwha Smart ELB #1070 (equity-linked bond) on April 28, 2026, totaling KRW 4 billion. Underlying asset: Samsung Electronics common stock. Issue price: KRW 10,000, maturity 1 year (April 28, 2027), principal-protected structure.
- Redemption conditions: If the final valuation price is below 500% of the initial strike price, annual return 3.40%; if 500% or above, annual return 3.401% (pre-tax). Historical simulation shows 100% of 5,260 scenarios yielded 3.40%.
- Subscription limited to retirement pension funds under the Employee Retirement Benefit Security Act. Minimum subscription: KRW 1 million, total subscription limit: KRW 4 billion. Issuance may be canceled if total subscriptions are less than KRW 300 million.
- The bond is unlisted and can be redeemed early, but the issuer acts as calculation agent (conflict of interest) and early redemption fees may apply. Not covered by the Depositor Protection Act.
- Issuer credit rating: AA- (NICE Ratings, Dec 5, 2025). Unsecured and unguaranteed; principal loss possible if issuer's financial condition deteriorates.
- As of end-2025, Hanwha Investment & Securities' total ELB issuance amounted to KRW 959.6 billion (public) and KRW 12.2 billion (private), with outstanding balances of KRW 773.9 billion and KRW 7 billion respectively. Total credit equivalent amount for all derivative-linked securities: KRW 681.2 billion.
- Underlying asset Samsung Electronics common stock: 20-year high KRW 219,000 (Apr 21, 2026), low KRW 8,150 (Oct 24, 2008). Price volatility: 57.60%.
- Hanwha Investment & Securities filed a shelf registration of KRW 2.5 trillion on Dec 12, 2025, with an offering period until Dec 20, 2026, and remaining balance of KRW 333.8 billion.
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KOSPI Filing Information
- Filing: Shelf Registration Supplementary Document (Derivative-Linked Bonds - Equity-Linked Derivative-Linked Bonds)
- Company: Hanwha Investment & Securities (003530)
- Submission: Hanwha Investment & Securities Co., Ltd.
- Receipt: 04-27-2026