Morgan Stanley unveils first cash/gilt struc prod

The Morgan Stanley FTSE Defensive Gilt-Backed Growth Plan offers a pre-defined return of 9% per year, paid as long as the FTSE 100 Index does not fall by more than 10% on each annual anniversary of the plan, for a maximum of three years. The Plan includes a 50% soft protection barrier, observed at maturity only. The development of the plan is a direct response to feedback from UK financial advisers. A recent Morgan Stanley survey of financial advisers showed that capital protection (32.2%) and credit rating (30.0%) are the most important considerations when recommending structured produc...