Kyobo Securities Issues ELS worth KRW 40.1 billion (undersubscribed vs registered amount)

Kyobo Securities issued the 13565th equity-linked derivative securities (ELS) on May 4, 2026. Actual issuance amount was KRW 4.01 billion (404,300 securities), significantly below the registered amount of KRW 29.76 billion (3 million securities).
Underlying assets: KOSPI200, S&P500, EUROSTOXX50. Face value per security: KRW 10,000, issue price: KRW 9,920.
Classified as a high-difficulty financial investment product; potential loss exceeding 20% of principal at maturity.
Automatic early redemption condition: each underlying asset ≥ 70% of initial strike price (up to 5 times); redemption yields from 5.05% to 25.25% per tranche.
Maturity redemption: if all assets ≥ 60% of initial, pay 130.30%; if any asset < 60%, pay proportion of the worst-performing asset (principal loss possible).
Issuance could be canceled if total subscription < KRW 5 billion; this issuance proceeded with KRW 4.01 billion.
The securities are unlisted, registered electronically, and no physical certificates issued.
Proceeds will be used for hedging derivatives and trading related equities.

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