Kyobo Securities issues ELB 12470 of 2.48bn won, small vs planned 19.9bn

Kyobo Securities issued the 12470th series of Equity Linked Derivative Bond (ELB) based on KOSPI200 index. Actual funds raised were 2.48 billion won (approx. 249,000 bonds), against a planned total of 19.9 billion won.
Issue price per bond: 9,950 won, face value 10,000 won. Monthly coupon payment conditional on underlying price being at least 75% of initial price (0.4075% monthly, approx. 4.89% p.a.).
Automatic early redemption: evaluated every 6 months, redeemed at face if underlying is >=85% of initial. At maturity, principal is fully protected (100% payment even if underlying below 85%). Low-risk product.
Issuance fee: 123,870 won. Proceeds used for hedging derivatives. Maturity in May 2029.

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