Structured notes are investment instruments issued in the form of notes. It combines fixed income products and derivative products to create a more innovative type of financial products. The issuer invests a portion of the principal in fixed income products and the remainder in derivative products. The return on structured notes depends on the performance of the underlying assets to which the notes are tied.

2. Related terms

Face Value & Issue Price

When investors buy structured notes, they need to pay an amount of money equal to the face value multiplied by the issue price. The issue price is usually 1 or close to 1.

Underlying Asset

The underlying assets are the investments to which the notes are linked. They can be almost anything, such as stocks, interest rates, indices, etc. Usually, the prospectus of structured notes includes the key terms and definitions of different asset categories. The prices of the underlying assets are the major factor determining the return on the notes.

Knock-Out

Some structured products have a knock-out feature. A knock-out event occurs when the underlying asset rises/falls to a predetermined knock-out level and may trigger an early redemption.

Knock-In

Some structured products have a knock-in feature. A knock-in event occurs when the underlying asset rises/falls to a predetermined knock-in level. After this happens, investors may suffer a loss when the product matures.

Physical Delivery

Contrary to cash settlement, physical delivery refers to the delivery of shares or other assets at a specified strike price.

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關稅風暴暫離高壓區！市場能否迎來反彈？

當地時間4月22日，美國總統特朗普公開承認美國目前對中國出口商品的關稅過高，預計稅率將大幅降低；美國財政部長貝森特也表示中美雙方關稅戰將很快降溫。4月25日，特朗普表示將爲不同國家設定「公平的」關稅稅率。特朗普此次對華關稅態度的轉變，能否平息市場恐慌情緒？關稅拉鋸戰最終結局如何？ Show More

特朗普對華態度緩和！近期你會如何操作？

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Apr 14 07:43

"Leaving the Group - Raising Taxes - Tweeting: The 'Money Making Strategy' of the Most Wild Gemini in Contemporary Times"

It's said that Trump is a walking drama machine, raising tariffs today and praising China tomorrow, making stock investors feel like they are on a roller coaster every day. But if you have seen hisThe Art of Trade, and then take another look at hisGemini horoscope—Wow! This guy's approach is simply the business version of "Empresses in the Palace", with every step marked by the four big characters "I want to make money".
The main core strategy in the book "The Art of Trade" is the combination of business thinking and the art of gaming.
Its core logic can be summarized into the following five dimensions:
1. The underlying logic of "creating momentum" and "the combination of reality and illusion".
The book emphasizes "always let the other party make the first offer" and "exaggerate demand to gain leverage."

This strategy is often seen in tariff policies and trade negotiations.
[Example]
By imposing tariffs on various countries to create pressure, opponents are forced to the negotiation table, and then an agreement is reached through phased concessions.
II. Practical Application of the "Big Negotiation" Strategy

First, he scared everyone quite a bit, and then he gave a little reward.Imagine you are bargaining in a vegetable market, and Trump's approach is to first raise a loudspeaker and shout: "This pile of cabbage must be sold to me for 100 yuan today!" When the vendor is stunned, he suddenly rubs his hands and says: "But seeing that you are not having an easy time, let's settle for 80 yuan~"

[Example]
1. In 2018, tariffs were imposed on CN commodities, turning the global stock market into a green wilderness. Just when everyone was about to collapse, he suddenly signed a first-phase agreement and triumphantly tweeted: "No one understands deals better than I do!"

2. On April 2, 2025, ...

Introduction to Structured Notes

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2. Related terms

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