Meritz Securities Launches 6-Month Short-Term Note Offering at 5.0%, Among Industry's Highest Yields
Meritz Securities has launched a special offering of short-term notes with a six-month maturity and an annual agreed yield of 5.0%. This is among the highest yields available for six-month products offered by the nine securities firms in South Korea that currently sell short-term notes.
Meritz Securities said on October 30 that it had launched the special offering, available exclusively at its branches, for new individual customers. The minimum subscription is 30 million won per purchase, and each customer may subscribe for up to 100 million won. Subscriptions are available on business days from 8 a.m. to 4 p.m.
After starting its short-term notes business on October 27, Meritz Securities also launched on-demand and fixed-term short-term note products alongside the special offering.
The annual agreed yield on on-demand short-term notes for individual customers is 2.50%, while fixed-term notes offer yields of 2.80% to 4.00% per year, depending on the subscription period. Yields on fixed-term products for corporate customers range from 2.70% to 4.00% per year, depending on the term.
On-demand and fixed-term products can be purchased in increments of 1 won, starting at 1 million won. The special offering focuses on improving yield competitiveness for medium- and long-term products with terms of six months or longer.
A Meritz Securities representative said, "We created this special offering with a focus on improving yield competitiveness for medium- and long-term products with terms of six months or longer. We will continue to launch a variety of products in response to customer needs and broaden their options."
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Short-term notes are financial products with maturities of up to one year, issued on the issuer's own credit by securities firms designated as comprehensive financial investment businesses with at least 4 trillion won in equity capital and licensed to conduct short-term financing businesses. However, they are not protected under the Depositor Protection Act, and customers may lose principal depending on the issuer's credit risk.
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