NH Investment & Securities Issues USD 5mn ELS Linked to Tesla, Micron (Very High Risk, No Principal Protection)

[Issue Summary] NH Investment & Securities is issuing 'NH ELS No. 24705' for USD 5,000,000 (approx. KRW 7.37 billion). Subscription period: May 4-8, 2026; Issuance date: May 11, 2026. Underlyings: Tesla Inc. and Micron Technology Inc. (NASDAQ). Face value per security: USD 100; Minimum subscription: USD 1,000. Non-listed, USD-denominated.
[Product Structure] Non-principal-protected, Grade 1 (very high risk), complex financial instrument. Max 3-year maturity, with up to 5 auto-call events (semi-annual to annual) offering 20.5% p.a. return if conditions met. Max return at maturity: 61.5% (20.5% p.a.). Knock-in barrier at 20%: if any underlying closes below 20% of initial price during observation period, principal loss at maturity; up to 100% loss possible.
[Issuer Credit Rating] NH Investment & Securities: AA+ (Korea Ratings, 2026/03/25). Issuer credit risk present; not covered by depositor protection.
[Subscription Conditions] Issuance may be cancelled if total subscriptions < USD 1 million. 100% subscription deposit required. Cooling-off period applies for retail investors (≥2 business days after subscription).
[Risk Factors] Underlying price fluctuations, FX risk (USD investment), potential principal loss on early redemption (fair value ≥95%, ≥90% within 6 months). Early termination events may result in liquidation-based redemption and losses.

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