Asset-or-Nothing Put Option
An option payoff that is equal to the asset's price if the asset is below the strike price, otherwise the payoff is zero.
Investopedia Commentary
These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry.
Related Links
Options Basics Tutorial
Option Compensation - Part One
Option Compensation - Part Two
The ABCs of Option Volatility
Becoming Fluent in Options on Futures
Trading A Stock Versus Stock Options - Part One
Trading A Stock Versus Trading Stock Options - Part Two
Dividends, Interest Rates and Their Effect on Stock Options
See also: Asset-or-Nothing Put, Call Option, Exercise, Option, Put, Strike Price