Morgan Stanley launches Defensive Income plan

The plan will deliver a fixed income payment of 3% after the first year regardless of the level of the FTSE 100. Subsequent annual coupons will be paid if the index is at or above 70% of its initial level. The coupon payments will increase in two year increments: 3% for years one and two, 4% for years three and four, and 5% for years five and six. In addition, Morgan Stanley is reissuing three of its existing products: The FTSE Protected Growth plan 36, the FTSE Kick Out Growth plan 6 and the FTSE Best Entry Growth plan 6. Morgan Stanley serves as the counterparty for all four p...