Issuance of 4 ELS Worth Approximately KRW 19.9 Billion and Risk Disclosure
- Kyobo Securities issued four equity-linked securities (ELS) with underlying assets of Samsung Electronics, Korea Electric Power, KB Financial, and Samsung Electronics+SK Hynix, totaling approximately KRW 19.9 billion (KRW 4.975 billion each); subscription will be held on May 14, 2026 for one day.
- Each ELS has a 3-year maturity, monthly coupon conditions (85% or 80% barrier), and automatic early redemption conditions (100% or 90% barrier), with principal guaranteed at maturity.
- The issuer's credit rating is AA- (Korea Ratings and NICE Investors Service, June 2025); the securities are unsecured and not covered by the Deposit Protection Act.
- Early redemption may result in principal loss at 90-95% of fair value; securities are unlisted, limiting liquidity.
- Remaining balance under the shelf registration statement is approximately KRW 554.5 billion out of KRW 9 trillion; as of end-March 2026, outstanding derivatives issuance includes ELS KRW 2.8 trillion and DLS KRW 116.6 billion.
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KOSPI Filing Information
- Filing: Shelf Registration Supplementary Document (Derivative-Linked Bonds - Equity-Linked Derivative-Linked Bonds)
- Company: Kyobo Securities (030610)
- Submission: Kyobo Securities Co., Ltd.
- Receipt: 04-28-2026