TERM(NO-KO)

TERM(NO-KO) Contingent Claim
Description:   This Claim defines the total payoff (principal + coupon) at maturity without knock-out

Properties defined in this Contingent Claim
Trigger Function:   Returns always TRUE since it is not provided explicitly
ON Payoff Function:   Returns the strike-modulated principal plus the coupon
OFF Payoff Function:   None

Properties defined in the Payoff Policy
Observation:   Only at maturity
Claim priority order at any date:   KO → TERM(NO-KO)
Trigger's alive status after any event:   Not alive
ON Payoff's alive status after any event:   Not alive
OFF Payoff's alive status after any event:   Not alive

Important Implications due to this particular Payoff Policy
1) This Claim applies only at maturity
2) It dies if a KO event occurs before or at maturity