Hanyang Securities said on the 20th it has launched a special repurchase agreement (RP) product offering a maximum preferential rate of 3.4% per year. The total sales size of this product is 50 billion won.
This special RP is sold to new and existing customers who have had no Hanyang Securities RP transaction history over the past year. It features tiered rates by contract period to broaden investor choice.
The preferential rates before tax are ▲ 28–90 days, 3.2% per year ▲ 91–181 days, 3.3% per year ▲ 182–365 days, 3.4% per year. In the case of early redemption, a pre-tax early redemption rate of 1.75% per year applies.
The sales period runs through the end of Dec. However, it may end early if the 50 billion won subscription cap is fully exhausted.
Subscriptions are available at four Hanyang Securities retail branches: Yeouido PWM Center, Songpa RM Center, Ansan Premier Center, and Incheon Premier Center. The subscription cap is up to 1 billion won for individual customers and up to 5 billion won for corporate customers. Hanyang Securities plans to expand sales to non-face-to-face channels going forward.
An RP is a short-term financial product sold on the condition that securities repurchase the bonds it holds after a certain period, using those bonds as collateral. You can receive the contracted return at maturity, but it is not eligible for deposit protection.
A Hanyang Securities official said, "Reflecting recent demand for short-term cash management, we applied differentiated rates by contract period," and added, "We will continue to expand competitive investment products tailored to customer demand."