A structured retail product that is issued (by certain institutions, e.g., banks, insurance firms, etc.) to the public in which the underlying asset component or the primary investment is a certificate, bond, note, etc., or generally a fixed-income instrument, or the wrapper), in addition to the other component (a derivative instrument.)

A fixed-income-linked structured retail product (SRP) may consist of a zero-coupon or interest-bearing note combined with a derivative whose value (performance) is usually realized at the maturity of the product. An example is an equity-linked note (ELN) that makes a periodical “fixed” interest payment as well as a repayment, at maturity, of the face value of the debt instrument liked to (multiplied by) the return of a commodity (e.g., gold) that has experienced good to excellent performance over a span of previous years).