Eugene Investment & Securities Launches Multi-Barrier Step-Down ELS Public Offering

[Asia Economy Reporter Minji Lee] Eugene Investment & Securities announced on the 12th that it will offer a total of 2 billion KRW worth of a multi-lizard type step-down ELS 1 product through public subscription until 2 PM on the 14th.

The newly offered "369th ELS" is a 3-year maturity principal non-guaranteed product. It is based on the KOSPI200 Index, Hong Kong Hang Seng Index (HSI), and EUROSTOXX50 Index. The pre-tax annual return is the same at 4.4% for early redemption, maturity redemption, and lizard redemption.

This product provides opportunities for early redemption and maturity redemption every 6 months according to the step-down structure. Specifically, on early redemption evaluation dates, if the closing prices of all underlying assets are at least 90% (6 months, 12 months), 85% (18 months, 24 months), or 80% (30 months) of the initial reference price, early redemption occurs. 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 13.2%.

Additionally, there are three lizard redemption opportunities over 1 year and 6 months. Under the condition that early redemption does not occur, if the prices of all underlying assets have never fallen below 85% of the initial reference price during the first 6 months, a pre-tax coupon of 2.2% (annualized 4.4%) is paid on the first early redemption evaluation date. If the prices have never fallen below 80% during 12 months, a pre-tax coupon of 4.4% (annualized 4.4%) is paid on the second early redemption evaluation date. Lastly, if the prices have never fallen below 75% during 18 months, a pre-tax coupon of 6.6% (annualized 4.4%) is paid on the third early redemption evaluation date.

This is a No Knock-in structure, and if on the maturity evaluation date any of the underlying assets is below 65% of the initial reference price, principal loss will occur. The minimum subscription amount for this public offering product is 1 million KRW.

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