autocall期权结构_深入解析奇异期权（Exotic option)的收益以及原理（一）

Payoff catalog for some of the most commonly traded Equity Exotics We'll be try to list payoffs for some of the most commonly traded products in the market today. But remember these structures are traded OTC and you should always expect deviations from these payoffs for these structure. With new structures thought of and researched everyday, this article will always be a work in progress. If you too have a structure in mind and think is worthwhile to put it here, give it to us the payoff and we'll include it in this page.

Autocallables

An autocallable trade could be on a single index/stock or basket of indices/stocks. It is normally a multi period product and terminates early if at any observation date all the the underyings are above their autocall levels (often the initial level). Autocallables are one of the most commonly traded structured products. The buyer earns high yield (coupon) contingent on the underlier (or worst-