Eugene Investment & Securities, Step-Down ELS Public Offering

[Asia Economy Reporter Minji Lee] Eugene Investment & Securities announced on the 31st that it will offer a total of 2 billion KRW worth of one type of step-down ELS through public subscription until 2 PM on the 2nd of next month.

The ‘363rd ELS’ being offered this time is a 3-year maturity step-down structured principal non-guaranteed product based on the KOSPI200 Index, Standard & Poor's 500 Index (S&P500), and Nikkei 225 Index (NIKKEI225). The pre-tax annual yield at early redemption and maturity redemption is 4.7%.

The ‘363rd ELS’ provides a total of five early redemption opportunities and one maturity redemption opportunity according to the step-down structure. First, on the early redemption evaluation dates, if the closing prices of all underlying assets are at least 85% of the initial reference price (at 6 months, 12 months, and 18 months), 80% (at 24 months), and 75% (at 30 months), early redemption will occur. On the maturity evaluation date, if the closing prices are at least 65% (at 36 months), the maturity redemption condition is met, allowing a pre-tax return of 14.1%. The minimum subscription amount for this public offering product is 1 million KRW.

It has a No Knock-in structure, and if on the maturity evaluation date the closing price of any underlying asset is below 65% of the initial reference price, principal loss will occur.

Kim Kyuhwan, Head of Financial Products at Eugene Investment & Securities, stated, “The 363rd ELS being offered this time is a product with lowered barriers for early redemption in the 1st to 3rd periods to increase the possibility of early redemption.”

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