What happens when a Structured Warrant matures?

At maturity:

If it is in-the-money (ITM), the investor receives a cash settlement from the issuer.

• CALL: ITM when the underlying stock price is above the strike price
• PUT: ITM when the underlying stock price is below the strike price

If it is out-of-the-money (OTM), the Structured Warrant expires worthless.

• CALL: OTM when the underlying stock price is below the strike price
• PUT: OTM when the underlying stock price is above the strike price