[Edaily Reporter Park Soon-yeop] NH Investment & Securities is expanding its lineup of equity-linked securities (ELS) for retirement pension subscribers. Amid increased stock market volatility, the company aims to broaden the range of options for investors—from conservative to aggressive—by offering more granular principal protection levels.
#NH Investment & Securities announced on the 18th that it will accept subscriptions for five new “N2 Retirement Pension ELS” products (Nos. 58–62) for customers enrolled in Defined Contribution (DC) and Individual Retirement Pension (IRP) plans until the 25th. With this launch, NH Investment & Securities’ lineup of ELS products dedicated to retirement pensions has expanded from three to five.

A key feature of these products is that they offer partial principal repayment rates of 99%, 80%, and 60%. This move is based on the assessment that, as stock market volatility has recently increased, demand has grown among retirement pension investors for products that offer a higher likelihood of principal protection while still pursuing a certain level of return potential.
The most notable product is No. 58. According to NH Investment & Securities, No. 58 is the industry’s first pension-specific ELS to aim for a 99% principal repayment rate. It uses Samsung Electronics and SK Hynix as underlying assets and has no knock-in condition—where the risk of loss increases if the price of the underlying assets falls below a certain level. Even if the conditions for profit repayment are not met by maturity, 99% of the principal will be repaid.
Product No. 58 pays an annual pre-tax return of 6.70% if the conditions are met. It has a three-year maturity and offers early redemption opportunities every six months. NH Investment & Securities explained that this product could serve as an alternative for retirement pension investors new to ELS or for existing investors in equity-linked bonds (ELBs).
The lineup also includes products designed for investors seeking high returns. Product No. 61 is a partial principal repayment product based on Samsung Electronics and SK Hynix, offering a pre-tax annual return of 24.60% if conditions are met. The knock-in barrier is set at 35% of the initial reference price. However, since losses of up to 40% of the principal may occur, it is suitable for investors with an aggressive risk appetite.
In addition, Product No. 59 is a partial payout product with 80% principal protection, based on the KOSPI 200 Index. The knock-in barrier is 35%, and it pays an annual pre-tax return of 7.40% if conditions are met. Product No. 60 is a partial payout product with a 60% principal protection rate, also based on the KOSPI 200 Index. It has a knock-in barrier of 40% and offers an annual pre-tax return of 14.70% if conditions are met.
Product No. 62 is a partial payout product with a 60% principal return, based on Samsung Electronics and Hyundai Motor as underlying assets. It has a knock-in barrier of 30% and pays an annual pre-tax return of 19.30% if conditions are met. However, all stated rates of return are conditional maximum annual pre-tax rates and are not guaranteed returns.
The N2 Retirement Pension ELS can be invested in through DC and IRP retirement pension accounts. Taxation on returns generated during the investment period is deferred until the time of withdrawal. If the funds are subsequently received as a pension, a pension income tax rate of 3.3% to 5.5%—lower than the general financial income tax rate of 15.4%—may apply. The minimum subscription amount is 100,000 won.
Subscriptions for general investors are open until 2:30 p.m. on the 25th. The issue date is the 26th. However, customers subject to the cooling-off period—such as those aged 65 or older, or investors deemed unsuitable or ineligible—must complete their subscriptions by the 22nd. The cooling-off period runs from the 23rd to the 24th, and subscriptions will be automatically canceled if the customer does not confirm their intention to proceed by 2:30 p.m. on the 25th.
Lee Jae-kyung, Executive Vice President of the Channel Solutions Division at NH Investment & Securities, stated, “Since long-term, stable management is key to retirement pensions, we have created a lineup with varying principal repayment levels so that customers can choose options that match their risk tolerance.” He added, “Product No. 58, which offers a 99% partial principal repayment, will serve as a new alternative for retirement pension customers seeking to reduce the burden of losses during periods of market volatility.”
Meanwhile, NH Investment & Securities is holding a promotion through the 30th for customers enrolled in the N2 Retirement Pension ELS. Further details are available on the NH Investment & Securities Namuh website and via the mobile trading system (MTS).