HLINSU 6.300% 24Jun2055 Corp (USD)

Bond Factsheet

Hanwha Life Insurance Co., Ltd

Indicative

Full Lot

Bid Price

99.500

Change in Bid Price

Bid Yield (%)

6.374 %

Change in Bid Yield

Ask Price

100.208

Change in Ask Price

Ask Yield (%)

6.232 %

Change in Ask Yield

Indicative price as of 23 Oct 2026, 4:01pm

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Bond Information

Hanwha Life Insurance Co., Ltd. offers life insurance services and reinsurance services. The Company also operates property and casualty insurance, beverages business, real estate rental, and securities investment business through its subsidiaries. Hanwha Life Insurance serves customers in South Korea.

Bond Issuer

Hanwha Life Insurance Co., Ltd

Guarantor

Announcement Date

16 Jun 2025

Issue Date

24 Jun 2025

Maturity Date

24 Jun 2055

Years to Maturity / Next Call

28.678 / 3.662

Modified Duration

12.394 @ 23 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.300

Coupon Type

Variable

Annual Coupon Rate

6.300

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

Reset Date: 24 June 2030 and every 5 years thereafter
Reset Rate: 5-year UST + Initial Spread (2.292%) + 100bps (scheduled, Step-up Margin) thereafter (from year 10 onwards)

ISIN

USY306AXAL42

CUSIP

YN2364068

Bond Currency

USD

Total Issue Size

1,000,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Insurance

Issuer Credit Rating (S&P/ Fitch)

***/ A+

Bond Credit Rating (S&P/ Fitch)

***/ A-

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Deferral Interest Payment

Optional cancellation of Distributions

Unless a Compulsory Distribution Payment Event has occurred, the Issuer may elect to cancel, in whole but not in part, payment of any Distribution otherwise scheduled to be paid on a Distribution Payment Date by giving notice to the Securityholders in accordance with Condition 11 and to the Fiscal Agent at least seven Business Days prior to such Distribution Payment Date (such notice to be accompanied by a certificate signed by an Authorised Representative of the Issuer stating that no Compulsory Distribution Payment Event has occurred).

In this Condition, a “Compulsory Distribution Payment Event” will occur if, during the 12-month period ending on the tenth Business Day prior to such Distribution Payment Date, the Issuer has declared, paid or made any dividend, distribution or other payment in respect of, or redeemed or purchased, any Junior Obligations or Parity Obligations (other than any such payment, redemption or purchase that is mandatory pursuant to the terms thereof).

Optional Distribution Cancelation: Applicable (in whole but not in part) on a non-cumulative basis, subject to dividend stopper and dividend pusher (12-months look-back)

Mandatory cancellation of Distributions on the occurrence of a Capital Deficiency Event

Notwithstanding Condition 4.6, if a Capital Deficiency Event subsists as at the tenth Business Day prior to any Distribution Payment Date, any Distribution which has accrued for the relevant Distribution Period will not be due or payable on such Distribution Payment Date and payment of such Distribution will be mandatorily cancelled, in whole but not in part. The Issuer will give notice of the cancellation of a Distribution pursuant to this Condition 4.7 to the Securityholders in accordance with Condition 11 and to the Fiscal Agent as soon as possible but not less than seven Business Days prior to the relevant Distribution Payment Date (such notice to be accompanied by a certificate signed by an Authorised Representative of the Issuer stating that a Capital Deficiency Event has occurred).

Mandatory Distribution Cancellation: Applicable (in whole but not in part) on a non-cumulative basis upon the occurrence of a Capital Deficiency Event and subject to dividend stopper

Distributions non-cumulative

Distributions are non-cumulative. If the Issuer elects not to pay a Distribution in accordance with Condition 4.6, or is required not to pay a Distribution in accordance with Condition 4.7, such Distribution will not be due and payable on the relevant Distribution Payment Date and shall not accumulate or be payable at any time thereafter. If any Distribution is not paid on a Distribution Payment Date pursuant to and in accordance with Condition 4.6 or 4.7, the right of Securityholders to receive such Distribution not paid will be lost, and the Issuer will have no obligation to pay such Distribution, whether or not any amount of Distribution is paid for any future Distribution Period and the failure to pay such Distribution shall not constitute a default by the Issuer for any purpose.

Issuer Call

The Issuer may, at its option, on the Initial Reset Date and on each Distribution Payment Date thereafter, upon giving notice to the Securityholders in accordance with Condition 11 and to the Fiscal Agent not less than 30 days but no more than 60 days prior to the proposed redemption date, redeem the Securities, in whole but not in part, at a redemption price equal to the principal amount of the Securities plus any accrued but unpaid Distributions to (but excluding) the date of redemption (other than any Distribution which has been cancelled pursuant to the provisions set forth in Condition 4.6 or 4.7) (the “Optional Redemption Price”);

First Call Date:June 24, 2030 (5 years from issuance)

Additional Note

Tier 2

Restrictions in the case of a payment limitation

If, on any Distribution Payment Date, payment of a Distribution scheduled to be paid is not made in full pursuant to Condition 4.6 or 4.7 or otherwise, the Issuer shall not:

(a) declare, pay or make any discretionary dividends, distributions or other payments on, and will procure that no discretionary dividend, distribution or other payment is declared, paid or made on, any of its Junior Obligations or its Parity Obligations, save that such restriction shall not apply to payments in respect of an employee benefit plan or similar arrangement with or for the benefit of employees, officers, directors or consultants; or

(b) redeem, reduce, cancel, buy-back or acquire for any consideration on a discretionary basis any of its Junior Obligations or its Parity Obligations (except, in relation to Parity Obligations, where such redemption, reduction cancellation or buy-back is made on a pro rata basis with a pro rata purchase by the Issuer of Securities), save that such restriction shall not apply to an exchange of any of its Parity Obligations for Junior Obligations or a repurchase or other acquisition of any securities in respect of an employee benefit plan or similar arrangement with or for the benefit of employees, officers, directors or consultants

in each case, until the next following Distribution Payment Date on which the Issuer pays in full the Distribution scheduled to be paid on such Distribution Payment Date.

Regulatory Event redemption

Subject to the satisfaction of the Optional Redemption and Purchase Conditions and upon the occurrence of a Regulatory Event, the Issuer may, at any time upon giving not less than 30 days’ notice to the Securityholders in accordance with Condition 11 and to the Fiscal Agent, redeem the Securities, in whole but not in part, at the Optional Redemption Price. The Issuer will notify the Securityholders of the Optional Redemption Price as soon as reasonably practicable after it has been determined (and in any event not later than the fifth Business Day before the date scheduled for redemption).

Prior to giving a notice of redemption pursuant to this Condition 6.4, the Issuer will deliver to the Fiscal Agent (a) a certificate signed by an Authorised Representative of the Issuer stating that the Issuer is entitled to effect such redemption and (b) an opinion of independent legal counsel to the Issuer experienced in such matters to the effect that a Regulatory Event with respect to the Securities has occurred. The delivery of the opinion referred to in (b) will constitute conclusive evidence of the occurrence of a Regulatory Event.

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