US straddle structure offers dual-directional returns

Morgan Stanley has launched a structured product based on the S&P 500 that offers uncapped returns on the upside and pays out if the US benchmark index falls by less than 30% over the six-year term

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Investors can profit from rises and falls in the S&P 500


Morgan Stanley has launched a six-year structured product linked to the performance of the S&P 500. This type of product uses what is known as a straddle or dual-directional structure, which allows investors to profit regardless of whether the price of the underlying has risen or fallen. In this case, returns on the upside are based on the rise in the index multiplied by a participation rate of 110% with no maximum cap

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