Kyobo Securities Issues KRW 9.95B KOSPI200-Linked ELB (Min 102% Redemption)

Kyobo Securities issued KRW 9,950,000,000 (KRW 9.95 billion) of equity-linked bonds (ELB) linked to KOSPI200, with payment date May 11, 2026 (12492nd series).
Maturity is May 15, 2029. If automatic early redemption conditions are met, the bond pays an annualized return of 6.70% (step-up per evaluation, up to 116.75% of face value).
At maturity, if the underlying index is at or above 100% of initial strike, bond pays 120.10% of face; otherwise pays 102.00% (principal protected with minimum 2% return).
Issuer credit rating is AA- (by KEP and KIS, as of 2025); the bond is unsecured, unlisted, and not covered by deposit insurance.
Proceeds will be used for hedging the underlying asset and investing in financial instruments.
Key risks: underlying price fluctuation, issuer credit risk, potential principal loss upon early redemption, low liquidity (unlisted).

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