回复：not sure about your point #2

Your understanding is correct on Note's return rate. One of the advantage to have FA is easier to get new issued notes. I believe the note mentioed here is the derivative product (since it matures in 2 years). Chase/Wellsfargo/BAC-Merrill Lynch provide many of this kind of products with leap calls/puts. That's another reason some investors feel confused. Due to time value decay, the full return won't reveal until closing to mature. The financial advisor should have made this clear when selling the products.I'll check if Fidelity has this type of products.