ELS Knock-In Calculator

Model a structured product scenario with coupon, cost drag, tax, and knock-in downside.

ELS knock-in scenario

Estimate early redemption, knock-in status, maturity payout, and Korean 15.4% tax on profit using the Korean ELS engine.

Expected after-tax payout

₩11,776,600

Expected profit

₩2,100,000

21.0%

Tax on profit

₩323,400

15.4% only when profit is positive

Worst current ratio

83.0%

KOSPI200

Knock-in touched

No

Status

조기상환 배리어 미달

worst 기초자산이 다음 조기상환 배리어(90%)에 미달합니다. 조기상환·쿠폰 수령을 위해서는 평가일까지 배리어 이상으로 회복해야 합니다.

The model uses Korean ELS step-down barriers, worst-performer checks, knock-in logic, and dividend-income style 15.4% tax on positive coupon profit. This English finance calculator calls the Korean feature lib for its numeric result. KRW inputs and outputs replace the old generic USD projection stub for this batch.

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ELS knock-in calculator

This English guide translates the Korean ELS profit, autocall, and knock-in explanation. The calculator uses calculateEls with the Korean barrier, coupon, worst-performer, and tax assumptions.

Step-down ELS structure

Most retail ELS products sold in Korea are step-down structures. On each observation date, if every underlying asset is at or above that round barrier, the note is called early and pays principal plus accumulated coupon.

The knock-in barrier is the level where principal-loss risk starts. It is often around 45% to 55% of the initial reference price. The Korean content emphasizes that one bad underlying asset can determine the final payoff because ELS uses the worst performer.

Maturity scenarios and tax

If the worst performer is above the final redemption barrier at maturity, the investor receives principal plus the promised coupon. If knock-in occurred and the worst performer is below the final barrier, the repayment can fall in line with that underlier performance.

For example, if the worst performer ends at 60% of the initial level after knock-in, only 60% of principal may be repaid and 40% can be lost. ELS profit is generally dividend income with 15.4% withholding, and annual financial income above KRW 20 million can move into comprehensive taxation.

Risk checks before subscription

No-knock-in structures can still lose principal if the final barrier is missed. Lizard and dummy-coupon structures also depend on product-specific barriers, so the English guide keeps the Korean warning that coupon headline return is not the same as deposit-like safety.

The result should be used to inspect principal-at-risk, autocall round, coupon after tax, and worst-performer ratio. Issuer credit risk, early redemption price, and product documents still control the actual payout.