A structured product (structured certificate) that is similar to a bonus certificate, but with an additional feature: a partial-time-end barrier option. This barrier option provides for an observation period starting at any given date before expiration and ending at expiration, during which a barrier event is monitored.

For example the barrier may be monitored over the last three months prior to maturity, to reduce the risk of knock-out. The barrier event could be a barrier hit or breach which causes the option to be knocked out, or a down-and-out-put that is knocked out when the underlying price drops below the barrier.