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# EKI TARF
{% hint style="info" %}
The EKI Target Forward features a European style KI barrier on the client's OTM obligations. Thus there is only an OTM settlement when the Fixing Rate occurs above / below a given knock-In Barrier Rate; otherwise if the fixing is between the Strike and the KI barrier there are no obligations on either party. The addition of the European barrier will tend to lead to a worse Strike Rate than on a vanilla Target version.
{% endhint %}
### **Payoff Diagram:**
### **Payoff at Expiry:**
At expiry if EURUSD fixes:
* Above the Strike, the client is fully protected at the Strike on 100% of the Notional subject to the target condition. Once the target is reached the strategy is cancelled and the client will become unhedged.
* Between the Strike and above the Knock-In Barrier, the client can participate in the favourable movement and transact at the improved Spot Rate.
* Below the Knock-In Barrier, the client will find itself obligated to trade at the Strike level on 200% of the Notional.
---
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