Yes.

Especially I see FD rate won't be raised drastically, then this Klibor structured product is good alternative as hedging tool.

It is not available at anytime like FD.

The actual details mostly need to get from the bank RM or officer as every series may come with difference clause/condition preset.

Normally it is launched periodically.

There are plenty of structured product carried by banks or investment banks, Klibor is just one of them.

There are share linked structured product as well, whereby you are getting pay like 8% if the underlying share price is sitting within the specific range under the observation period, DCI etc. But I do not think it is suit to FD "fans".

Klibor structured is actually quite simple.
If Klibor within the specific scope range, like not more than 4%, one is getting paid 5% interest every 3 months.
If Klibor surge or out of range set, then you are getting zero, while your principal is intact until the its mature.