The new equity-linked securities (ELS) introduces a protection period after the first knock-in touch with China’s Huatai acting as the hedging counterparty.

Hanwha Investment & Securities said it is issuing a ‘reboot’ step-down autocallable note wrapped in ELS in South Korea, the first of its kind in the country, as the issuer looks to attract investors to mitigate tail risk via the new offering. Striking this Friday (29 August), the three-year public offering linked to a basket of indices – Nikkei 225, Hang Seng China Enterprises Index and Eurostoxx 50 – will trigger a 120-business-day protection period when the un