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Key Dates |
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Closing Date: 08 March 2012 |
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Summary
• Fixed quarterly income: Every quarter during the three year term, you will receive a fixed Income payment of 1.45% (equivalent to 5.80% per year), regardless of any movement in the FTSE 100 Index. • Some protection from a falling market at maturity: As long as the FTSE 100 Index level remains above 50% of its level on the start date of the Plan, you will receive the return of your initial investment at maturity. However, if it closes at or below 50% of its initial level on any day during the three-year term, your capital is at risk: In this case, if the FTSE 100 Index level at maturity is below its level on the start date of the Plan, the repayment of your investment will be reduced by the amount the FTSE 100 Index has fallen. This Plan is not capital protected and you should be prepared to lose some or all of your initial investment. • Your capital is used to purchase securities issued by Morgan Stanley B.V., a member of the Morgan Stanley group of companies: Morgan Stanley is the Guarantor of the securities. This means that Morgan Stanley will make all payments due under the securities if Morgan Stanley B.V. is not able to make such payments. Investors are therefore exposed to the credit risk of Morgan Stanley. If Morgan Stanley is unable to make payments due to you under the securities, you may lose some or all of your investment. As of 13th January 2012, Morgan Stanley has a credit rating of A- from Standard & Poor's. For an explanation of what these ratings mean see the ‘Credit risk’ section on page 6 of the plan brochure. Considerations for Investing If the following statements apply then an investment in the plan may be appropriate: • I am looking for a regular, fixed income payment. • I am prepared to risk losing some or all of my investment should the FTSE 100 Index close at or below 50% of its initial level on any day during the three-year term. • I understand that the plan returns and the repayment of my investment depend on Morgan Stanley not going into liquidation and I am comfortable with this risk. • I am willing to invest for three years in order to achieve the returns described in the brochure. If the following statements apply then an investment in this plan may not be appropriate: • I am looking for a growth return linked to the performance of an index (like the FTSE 100 Index), rather than a fixed quarterly income. • I am not prepared to put any of my capital at risk. • I may need access to my capital before the end of the investment term and do not want to take the risk that the amount I receive from selling my investment in the Plan is less than my initial investment. • I am not willing to accept the risk of Morgan Stanley going into liquidation and therefore not being able to pay the advertised returns and the repayment of my investment at maturity. • I wish to invest in a tax efficient Plan that is eligible under UK ISA rules.  |
