Morgan Stanley is now marketing the fortieth tranche of its longest-running structured product in the UK, the Morgan Stanley FTSE Protected Growth Plan, alongside a new suite of its core range of structures.
Morgan Stanley's executive director, Marc Chamberlain, said consistency of product offering is important as financial advisers do not always want to 'learn' a new product payoff for every launch. "Forty issues of the FTSE Protected Growth Plan are a testament to its popularity," he said.
The Protected Growth Plan 40 is a six-year FTSE100-linked growth product offering full protection at maturity. It includes an 'early exit' knockout feature that can be triggered after three years of investment if the underlying has risen at least by 10%. In this case the product will mature paying a 122% return. Otherwise, it will continue for another three years and pay 100% participation of the positive performance of the underlying on maturity.
The new suite of Morgan Stanley products is completed with the FTSE Kick Out Growth Plan 10, a similar structure to the Plan 40 but with 50% downside protection; the Morgan Stanley FTSE Simple Growth Plan 13, which offers full protection and 105% participation on the FTSE100's upside with no cap over six years; and the Morgan Stanley FTSE Defensive Digital Growth Plan 3, a 50% soft protected structure that will pay out a fixed return of 58% on maturity if the underlying is above 80% of its initial value.
All four products are backed by securities issued by Morgan Stanley, which currently has an A rating from S&P. The products will be open for investment until 21 April 2011. Minimum investment is £3,000.
These products are available in Recent Additions (UK).