KIKO = Knock-In Knock Out

KIKO is a short-term structured product that can be applied to any asset class.

As an equity-linked note, it offers a higher yield compared to conventional bonds. KIKO may be called for an early redemption which investor will receive principal and the last coupon payment (Knock Out event occurs) or may be redeemed for shares at maturity (Knock In event occurs and stock price is lower than strike price).