[Provided by Hanyang Securities]
[Provided by Hanyang Securities]

Hanyang Securities announced Wednesday it will offer a special repurchase agreement (RP) product carrying an annual interest rate of 8.0%.

The third installment of the firm's special fixed-rate RP series was designed to attract new customers, encourage existing customers to re-engage, and boost usage of its mobile trading system (MTS). An RP is a transaction in which bonds are bought or sold on the condition that the same bonds will be repurchased or resold at a set price after a specified period.

Both new and existing customers can purchase the product through the Hanyang Securities MTS app. The sales period runs from Wednesday through Aug. 31, though the offering will close early once the 1,000-unit limit is reached on a first-come, first-served basis.

Customers may choose a contract term of 28 to 91 days. The annual interest rate is 8.0% before tax, and the purchase limit per customer is 5 million won ($3,370). Early redemption carries a reduced annual rate of 2.0% before tax.

Purchases are limited to a one-time buy of up to 5 million won. On the initial purchase date, customers may buy in installments within that limit, but no additional purchases are permitted after the first transaction.

"This special RP was designed to offer customers a competitive investment opportunity and to encourage greater use of our MTS platform," a Hanyang Securities official said. "We will continue to introduce a diverse range of financial products and services that reflect our customers' investment needs."


moon@heraldcorp.com