Did any one tried both languages, if so, what are your observations/comments that can be used to define pros and cons for each one comparing with the other.
I've used Kotlin extensively and worked on the Kotlin/Native a little bit (quite some time ago, things might have changed since then). To me, these languages target slightly different use-cases: Rust is primarily for low-level systems programming, where correctness and performance are paramount, and Kotlin is for rapid and cost-effective application development. So, when both become mature, expect Kotlin/Native to be slower, but easier to learn and to integrate with existing stuff, especially for mobile dev.
I am however not sure about the current status of Kotlin/Native: it was very much a work in progress not so long ago.
I am also pretty excited about Kotlin/Native as a WASM language: it could be a super technology for writing plugins. Given that current text editors are scripted in vimscript, e-lisp and JavaScript, we sorely need such a technology 
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Thanks Kotlin-Native is in beta now, near to be completed.
Not sure about my understanding, but looks for me Kotlin trying to be real one language for all [native/mobile/jvm/wasm/js/script language with .kts/interactive language with REPL],