KRW 150 billion offering of 3 non-principal-guaranteed ELS - Knock-in barriers 30-45% | Shinyoung Securities(001720)

Total KRW 150 billion (KRW 50 billion per series) public offering of 3 ELS. Issuer Shinyoung Securities (credit rating AA-).
Underlyings: KOSPI200 single (12702), KOSPI200 + Samsung Electronics (12703), SK Hynix + Hyundai Motor (12704). Maturity 3 years, non-principal-guaranteed, high-difficulty financial products.
Auto early redemption conditions: 12702 (1st 90%, then 85/85/85/80%), 12703 (1st-3rd 85%, then 80/80%), 12704 (1st 90%, 2nd 85% or Early Exit, 3rd 80%, 4th 80%, 5th 70%). If met, yields 12.30% / 15.60% / 20.00% p.a.
Maturity redemption conditions: 12702 (KI 45%, barrier 70%), 12703 (KI 40%, barrier 70%), 12704 (KI 30%, barrier 65%). If KI triggered and below barrier, principal loss up to 100%.
Loss examples: For 12702, if KI triggered, loss rate = (final/initial). E.g., if final 450 (50% drop), 50% loss. Total loss possible.
Historical simulation: 12702/12703 had 0% loss cases, 12704 had 0.576% probability of loss between -30% and -50%.
Others: not listed, early redemption possible but may incur loss, no deposit insurance, issuer credit risk exists.

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