Issuance of 1 Trillion Won Inverse Leveraged WTI Crude Oil Futures ETN – Credit Rating AA+, 5-Year Return -97.87% | NH Investment & Securities(005940)

NH Investment & Securities issued the 43rd series of ETN tracking -2x daily return of WTI crude oil futures, totaling 1 trillion won (100 million notes at 10,000 won each). Maturity July 30, 2027; listing expected May 4, 2026.
Issuer credit rating AA+ (Korea Ratings, 2026.3.25). Underlying index: DJCI 2X Inverse Crude Oil TR. Total annual expense ratio 1.00%.
Over the past 5 years, underlying index cumulative return -97.87% (annualized -19.55%), volatility 74.33%. 1-year return -75.68%, indicating extremely poor historical performance.
Unsecured, non-principal-protected, not covered by deposit insurance. Potential total loss of principal at maturity (example: zero indicative value leads to 100% loss).
Early redemption: minimum 200,000 notes (20 billion won), 2% fee, daily limit 200,000 notes. Liquidity provider is the issuer (NH Investment & Securities).
Key risks: price risk (leverage decay, roll costs), credit risk (unsecured), liquidity risk, premium/discount risk, delisting risk, etc.

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