US Wrap: Morgan Stanley offers Asian ETF exposure

The unusual market activity has also seen two principal protected notes (PPNs) launched, a rare occurrence this year as pricing has been unattractive on guaranteed products. Both Bank of America and Morgan Stanley launched PPNs linked to the S&P 500, each with an upside cap and 100% participation in the index. Only one reverse convertible was issued by Citi into the market, linked to the stock of Yahoo.


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Morgan Stanley


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