Soft knock-in knock-out forward

Background: A soft knock-in knock-out forward conversion rate is known and guaranteed from inception, but the notional amount finally exchanged at expiry is only determined in the final fixing.

The structure looks very much like the classic knock-in knock-out forward -- where the holder can take advantage of favourable market evolutions until the knock-in barrier is triggered. There is a risk the holder will lose his heding position if the spot hits the knock-out barrier -- but the barrier's

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