Issuance of 2bn won principal-guaranteed ELB (maturity yield 3.45%)

Issuance of 2bn won principal-guaranteed ELB, subscription limited to retirement pension funds. Maturity on May 7, 2027, unlisted.
Yield: if underlying (KEPCO) at maturity >=500% of initial, 3.451% p.a.; otherwise 3.450% p.a. (pre-tax). Virtually always 3.45%.
Risk rating: Medium (Level 4). Issuer credit rating A (Stable, as of 2013).
Early redemption penalty: 2.45% or 3.45% (for special pension reasons) prorated. Liquidity restricted.
Issuance expenses: 100,000 won; net proceeds: approx. 1,999,900,000 won. Proceeds used for hedging and investment.

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