Fate is satisfied by king (6)
I believe the answer is:
kismet
'fate' is the definition.
(kismet is a kind of fate)
'is satisfied by king' is the wordplay.
'satisfied' becomes 'met' ('meet' can be a synonym of 'satisfy').
'by' means one lot of letters go next to another.
'king' becomes 'k'.
'is'+'met'='ismet'
'ismet' after 'k' is 'KISMET'.
(Other definitions for kismet that I've seen before include "Will of Allah" , "Fate - 1953 musical" , "lot in life" , "fortune" , "Broadway musical" .)