Kyobo Securities Issues KRW 99.5 Billion Principal-Protected ELB Linked to KOSPI200 (Annual Coupon 5.73%)

Kyobo Securities issues its 12487th Equity-Linked Bond (low risk, grade 5) worth KRW 9.95 billion (issue price KRW 9,950, face value KRW 10,000).
The underlying asset is the KOSPI200 index. The bond is principal-protected (100% of face value at maturity on May 17, 2028), classified as low risk.
Monthly coupon of 0.4775% (annual 5.73%) is paid if the index closes at or above 85% of the initial level on each coupon evaluation date; up to 24 payments.
Automatic early redemption is triggered from 3 months onwards if the index closes at or above 100% of the initial level on any of 7 evaluation dates; redemption at 100% of face value.
The issuer has a credit rating of AA- (from Korea Ratings and NICE Investors Service, June 2025). The bond is unsecured and unsubordinated.
The bond is not listed. If investors request early redemption, they may receive 90-95% of fair value, potentially incurring principal loss.
Proceeds will be used for hedging (underlying assets and derivatives) and investment in financial products.

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