Eugene Investment & Securities Launches 4th Early Redemption Special ELS Offering

[Asia Economy Reporter Minji Lee] Eugene Investment & Securities announced on the 25th that it will offer a special public subscription of one early redemption step-down ELS product worth a total of 2 billion KRW until 2 PM on the 27th.

The ‘349th ELS’ is a 3-year maturity principal non-guaranteed product based on the Standard & Poor's 500 Index (S&P500), the Hang Seng China Enterprises Index (HSCEI), and the EURO STOXX 50 Index (EUROSTOXX50).

This product offers a coupon yield in the 8% range and provides early redemption opportunities every 4 months. According to the step-down structure, there are a total of 8 early redemption opportunities and 1 maturity redemption opportunity, with a pre-tax annual yield of 8.1% upon early or maturity redemption.

On early redemption evaluation dates, if the closing prices of all underlying assets are at least 95% (4 months), 90% (8 months, 12 months), 85% (16 months, 20 months), 80% (24 months, 28 months), or 75% (32 months) of the initial reference price, early redemption will occur. On the maturity evaluation date, if the price is at least 65% (36 months), the maturity redemption condition is met, yielding a pre-tax return of 24.3%. It has a No Knock-in structure, and if any of the underlying assets fall below 65% of the initial reference price on the maturity evaluation date, principal loss will occur.

Kim Gyuhwan, Head of Financial Products at Eugene Investment & Securities, said, “This product is suitable for customers who carefully consider quick early redemption and profitability.” The minimum subscription amount for this public offering product is 1 million KRW or more (increasing in units of 100,000 KRW).

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