Take the quotes of Tesla (TSLA US) for example:

• It is suitable for customers who expect relevant equities to rise.
• Suppose a customer buys the note at a discount price. If the prices of linked equities on the settlement date are higher than the exercise price, the customer will get back 100% of the principal and obtain a return of a difference between the issue price and 100%.
• On the contrary, if the prices of linked equities on the final settlement date are lower than the exercise price, investors need to buy the equities at the exercise price (rather than the current prices) with the principal. It means the equities are purchased at a discount of the current price.
• The note can offset price falls. Take the exercise price that is 85% of the equity price for example. Customers can offset a decrease of 15% in the price of an equity they selected.