generally, that first year offer is the price for each month of the year = 12 equal payments (if paying monthly). there is a penalty (1/2 the remaining cost), IF you cancel early.
and the subscription automatically renews at the end of the first year at a higher cost. that subscription can be cancelled with no penalty IF cancelled within 1 week of its start. it may be possible to cancel an automatic renewal any time with no penalty, because adobe's contract terms (in the USA) recently changed to allow that.
BUT it's best to follow @Jeff A Wright's advice and contact support because local offers (eg in europe/italy) can vary from what we see in the usa.