What are your thoughts on structured notes offered by local banks to privilege clients?

More context, My parents came to me to for my opinion on an investment product offered to them by their RM at a local bank.
They were presented with 2 options:
1) 15 months stepdown with glider event auto callable note with Daily knock out, monthly knock in.
2) 15 months stepdown with glider event auto callable note with daily knock out, European knock in.
Both offer a coupon of 8%
Both have a knock in at 68%
with the underlying asset, tracking are large-cap tech firms in the US.
Thoughts?