A structured product in which the autocall mechanism determines the amount of payoff (coupons), accumulated and paid on an autocall event, either prior to maturity or at maturity (if at maturity, it involves autocall mechanism). The payoff is based on the performance of an underlying (a number of shares). This product has a fixed term and is redeemable on the redemption date unless redeemed early  (before maturity) if a provision of automatic early redemption gets activated.

The payoff is determined under one of two scenarios: 1) if the final reference price of the worst-performing share is greater than or equal to the full amount of its initial reference price, in which case the holder receives a monetary amount equal to 1.xx% of the notional amount (e.g., 150%, 140%, etc.)

2) if the final reference price of the worst-performing share is less than the full amount of its initial reference price: the holder receives a monetary amount equal to 100% of the notional amount.

This product is also known as a classic autocall.