Morgan Stanley launches 'best-of' growth structured product

The plan takes a basket of the 20 largest stocks by market capitalisation in the FTSE 100 Index as of 8 May 2013 and at maturity retrospectively selects the top performing 11 stocks, giving their average return as capital growth back to investors. At maturity, as long as the FTSE 100 Index is at or above 50% of its level when the plan starts, investors will receive full repayment of their invested capital. However, if the FTSE is more than 50% below the initial level at maturity, capital will be at risk and investors will lose 1% of their initial investment for every 1% that the final...