Artículo 4.3.1. IFRS 9 Paragraph 4.3.1

An embedded derivative is a component of a hybrid contract that also includes a non‑derivative host—with the effect that some of the cash flows of the combined instrument vary in a way similar to a stand‑alone derivative . An embedded derivative causes some or all of the cash flows that otherwise would be required by the contract to be modified according to a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable, provided in the case of a non‑financial variable that the variable is not specific to a party to the contract. A derivative that is attached to a financial instrument but is contractually transferable independently of that instrument, or has a different counterparty, is not an embedded derivative, but a separate financial instrument.