The issuance of equity-linked securities (ELS) and equity-linked bond (ELB) at NH Investment & Securities has reached its lowest point in Q3 21 down at the level seen a year ago.

Driven by ELS, the sales volume reported by the South Korean securities house dropped to KRW0.9 trillion from KRW1.2 trillion (US$876m) quarter-on-quarter (QoQ) or from KRW2.5 trillion in Q4 19 when it hit the peak during the past two years, according to NH Investment’s Q3 21 earnings release.  The slowdown in issuance and sales was reflected in the Korean ELS/ELB market featuring step-down autocallables which showed the issuance amount had fallen 30.8% to KRW11.6 trillion in Q3 21 Q

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