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

For access to analysis of the US structured product market, visit www.structurededge.com