Meritz Securities has launched an issued note product paying interest of up to 5% a year. General individual and corporate customers can receive up to 4% a year, and new individual customers trading for the first time receive 5% a year through a special 6-month maturity product. Subscriptions to the special product are accepted only at branches, and the sales cap is 10 billion won in all.
Meritz Securities said on the 27th that it is starting sales of issued notes, a short-term financial product issued on the company's own credit. The new lineup consists of three types in all: on-demand, fixed-term and an offline special offer.
On-demand issued notes are limited to individual customers, with the rate set at 2.50% a year. Fixed-term issued notes carry rates of 2.80-4.00% a year for individual customers and 2.70-4.00% for corporate customers, depending on the term. Both on-demand and fixed-term products can be subscribed to on business days between 8 a.m. and 4 p.m., and the amount can be freely set from a minimum of 1 million won in 1-won units.
The special product was prepared exclusively for new individual customers to mark the launch of issued notes. It pays 5.0% a year on a 6-month term, and subscriptions are accepted only at offline branches. The per-customer subscription limit is between a minimum of 30 million won and a maximum of 100 million won, and the total sales cap for the special product is 10 billion won.
A Meritz Securities official said, "We designed the products so that their competitiveness is maximized especially in terms of 6 months or longer," adding, "We will offer benefits to customers by launching various events and additional special products going forward."
Issued notes are short-term financial products with maturities of one year or less that only securities firms designated as mega investment banks (IBs) with equity capital of 4 trillion won or more are allowed to issue. A characteristic is that even if you deposit money for just one day, you can receive the profit promised in advance, and you can choose the maturity date freely within a maximum of one year.
Meritz Securities recently signed a memorandum of understanding (MOU) with the Optimism Foundation to cooperate in the tokenized financial asset business. The Optimism Foundation operates OP Mainnet, a blockchain network based on Ethereum.