# Autocallable

*Derivatives & Options — Finicade finance glossary*

A structured product that automatically redeems early, paying a set coupon, if the underlying is above a level on a check date. Popular for its headline yield, but the payoff hides sold options and real downside.

**Also known as:** autocallable phoenix, autocall trigger

**Related terms:** [Structured Product](https://finicade.com/glossary/structured-product), [Reverse Convertible](https://finicade.com/glossary/reverse-convertible), [Barrier Option](https://finicade.com/glossary/barrier-option)

**Taught in:** Hull Street — Anatomy of an Autocallable

Source: https://finicade.com/glossary/autocallable