US Wrap: Morgan Stanley punctuates end of accelerated growth week
A single accelerated growth product was listed in the US market on Friday, bringing a close to a week that was dominated by the structures. Morgan Stanley offered an alternative to the whitewash of S&P 500-linked products that has been available in recent weeks by offering 300% participation in the Russell 2000 index over one year, with no capital protection.
Out of 19 products issued into the US market last week, 15 were accelerated growth products. The S&P 500 is still a marked favourite, representing the underlying for over half of these products. This is in contrast to the previous five days which were dominated by reverse convertible issuance.
Issuer
Product type
Underlying
Pricing date
Maturity date
Morgan Stanley
Accelerated Growth
Russell 2000
Mar-09
Apr 20 2010
Source: Future Value Consultants & SEC filings
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