Samsung Securities Issues 19.8B Won Non-Principal Protected ELS

Samsung Securities issues ELS (Equity-Linked Securities) worth 19,800,000,000 KRW (issue price 9,900 KRW, face value 10,000 KRW).
Underlying assets: KOSPI200, EUROSTOXX50, S&P500; maturity 3 years (May 10, 2029) with semi-annual auto-call conditions (65% barrier).
At maturity, if all underlyings are at or above 55% of initial, pays 7.2% p.a. (21.6% absolute); otherwise, up to 100% principal loss based on worst performer.
Issuer credit rating AA+ (NICE, Jan 23, 2026); high-difficulty financial investment product (Grade 2, non-principal protected), unlisted, not covered by depositor protection.
Historical return distribution (2003-2026): 98.66% probability of 3.6% return (1st auto-call), 0.00% probability of -100% loss.
Early redemption: within 6 months at ≥90% of fair value, thereafter ≥95%; possible principal loss.
Subscription: one day on May 14, 2026, minimum 1 million KRW in increments of 10,000 KRW.

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