Kiwoom Securities' 3 ELS/DLS Issuances See Low Subscription Rate of 12.8%

Kiwoom Securities raised KRW 3.507 billion (USD 2.38M) from three ELS/DLS issues, only 12.8% of the planned KRW 27.378 billion
Series 1169 (Samsung Elec, Grade 5): raised KRW 2.312 billion vs planned KRW 10 billion (23.1% subscription)
Series 1170 (Samsung Elec, Grade 5): raised KRW 1.128 billion vs planned KRW 10 billion (11.3%)
Series 1171 (S&P500, Grade 4): raised KRW 66 million vs planned USD 5M (approx KRW 7.378B), subscription rate ~1%
Unlisted securities, maturity 6-12 months, principal-guaranteed (but loss possible upon early redemption or issuer default)
Issuance may be cancelled if total subscription < KRW 500M (won tranches) or USD 1M (dollar tranche)
Proceeds to be used for hedging underlying assets

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