Kyobo Securities Issues 429th ELB at KRW 294M, Weak Demand

Kyobo Securities issued the 429th ELB, actual proceeds of KRW 294M (9.8% of the planned KRW 3B), indicating weak demand
Fair value per note is KRW 9,742.84, a 2.57% discount to face value (KRW 10,000)
Underlying asset: Hyundai Motor common stock, annual volatility 61.31%, monthly coupon 0.635% (7.62% p.a.)
Principal-protected structure: pays 100% of face value at maturity or early redemption (contingent on underlying conditions)
Total issuance of KRW 294M, below the KRW 300M cancellation threshold, but issuance proceeded

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