Could someone give me pointers on replacing the pull-up bungee lines on a Nacra 5.5 rudder system?

It looks pretty straight forward. For each, the plan is to use 5' of 5/16 shock cord with a couple of stainless hog rings to bind the bungee ends. Could it be that simple?

Pull-downs will be replaced at the same time with a 3/16" prestretch line.

Sail fast, Tom G