How to set-up In App Purchase free trial period in iOS app

In Apple's AppStore Terms & Conditions, you may find the following statement in relation to Auto-renewable In App Purchases:

"Certain paid In App Subscriptions may offer a free trial period prior to charging your Account."

How does it work? I haven't seen any option to allow such free trial period for my Auto-renewable IAPs in iTunes Connect.

Works for 2020.03.16

8 steps in detail

Firstly, your products should be approved.

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And you got

After several hours, it works

Five years later - Apple has changed the way you offer free trial for users. source: https://itunespartner.apple.com/en/apps/news/4406427

From now it's under "introductory price", see here for more details: https://help.apple.com/itunes-connect/developer/#/deve1d49254f

Update 3/2020: now it's called "Create Introductory Offer"