Issuance of KRW 30 Billion Principal-Protected Equity-Linked Bond Linked to Samsung Electronics

Shinyoung Securities issued KRW 30 billion of equity-linked bonds (ELB) linked to Samsung Electronics common stock, with a 1-year maturity and low-risk classification.
Maturity redemption: if final price ≥ 999% of initial price, pay 3.510% p.a.; otherwise, pay 3.500% p.a. Principal is protected at maturity.
Issuer credit rating: AA- (KIS, NICE, May 2025). Unsecured, non-guaranteed, and not covered by deposit insurance.
Subscription period: April 30, 2026 (1 business day), minimum subscription of KRW 1 million. Issuance may be canceled if total subscriptions < KRW 500 million.
Bonds are not listed, so liquidity is limited. Early redemption by investor: if within 1 year, coupon is reduced by 1.00% from 3.500%, possibly causing principal loss.
Proceeds will be used for hedging transactions (trading underlying assets, OTC derivatives).
Historical simulation over 23 years (2003~2026) shows all 5,429 scenarios resulted in at least 3.50% return, but this does not guarantee future performance.
Key risks: issuer credit risk, loss upon early redemption, underlying asset volatility, market disruption, and potential early termination.

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