Glossary

  • Underlying

    The underlying of a structured product or option can be any asset class (equity index, stock basket, debt instrument, interest rate, commodity or a combination of these) that is used to construct the product and whose performance is a key determinant of the payout. In some products, the underlying may be a basket of 20 stocks, but the redemption basket that is used to calculate the maturity payout may comprise only 10 of those stocks.

  • Up-and-in

    A type of barrier option that pays off only when the underlying index reaches the upper barrier during the life of the option.

  • Up-and-out

    A type of barrier option that knocks out when the underlying reaches the strike.

version : 4.33.0-SNAPSHOT