A type of equity warrant that is attached to a fixed-income investment (such as debt, bond issue, etc) or preferred or common stock issue in order to improve the chances of the issue attracting investors. Fixed-income investors and other risk-averse investors are typically keen to enhance their overall returns without excessively increasing their risk. For convertibles where the fixed income component represents more than 85% of the value of the instrument, equity kickers provide a means to benefit from upside potential if the underlying equity rallies. Since equities outperform fixed-income instruments over the long run, equity kickers can help investors increase overall returns.

Equity kickers are also known as sweeteners.