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Market Vectors - Double Short Euro ETNs due 4/30/2020
Ticker Symbol: DRR* CUSIP: 617480280 Exchange: NYSEA
* NOTE: This security is no longer trading as of 4/30/2020
Company's Online Profile
BUSINESS: Market Vectors - Double Short Euro Exchange Traded Note (ETN) due on April 30, 2020, are senior, unsecured debt securities issued by Morgan Stanley and is part of the Series F Global Medium-Term Notes program. INVESTMENT OBJECTIVE: The Market Vectors - Double Short Euro ETN seeks to track the performance of the Double Short Euro Index, less investor fees. The ETN provide investors with cost-effective access to a two-times-leveraged, short exposure to the performance of the euro relative to the U.S. dollar, via the Index. INDEX DESCRIPTION: The Double Short Euro Index is designed to reflect a hypothetical investment strategy of borrowing euros and selling them short for U.S. dollars, investing the U.S. dollars for one day and converting them back into euros to repay the borrow. As the Index is two-times leveraged, for every 1% weakening of the euro relative to the U.S. dollar, the level of the Index will increase by 2%, while for every 1% strengthening of the euro relative to the U.S. dollar, the Index will decrease by 2%, before taking into account the total return factor and the interest rate-related aspect of the forward contracts. The Index is rebalanced daily to maintain two-times leverage with regard to the Index level as the euro/U.S. dollar exchange rate moves up and down each day. RETURNS AND MATURITY: The return on the Securities may be positive or negative, and is directly linked to the performance of the Index, which is based on a variety of market and economic factors, interest rates in the markets and economic, financial, political, regulatory, judicial or other events that affect the markets generally. If you hold your ETNs to maturity, you will receive a cash payment at maturity equal to the principal amount of your ETNs times the index factor minus the aggregate investor fee, each as determined on the final valuation date. REDEMPTION AND FEES: You may require us to repurchase your ETNs prior to maturity, you will receive a cash payment equal to the principal amount of your ETNs times the index factor minus the aggregate investor fee, each as determined on the applicable valuation date. Issued in denominations of $40.00, you must redeem at least 50,000 Securities at one time and agree to the repurchase procedures in order to exercise your right to redeem your Securities on any repurchase date. The investor fee is equal to 0.65% per annum accrued on a daily basis. For calculations of fees and any further information on this ETN click on the Link to IPO Prospectus provided.
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Notes: The issuer of this ETN has suspended the issuance of new notes. ETNs that are closed to the issuance of new notes pose additional investment risks such as the potential for the market price to deviate from the fund's Net Asset Value, as well as increased volatility. Paying a premium over an ETN's Net Asset Value could lead to significant losses.
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IPO - 5/6/2008 - 1.25 Million Notes @ $40.00/note.
Link to IPO Prospectus
Micro Cap Stock -
Market Value $67.8 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 666 Third Avenue, New York, NY 10017 |
| Main Phone Number |
212-293-2000 |
| Fax Number |
Not Available |
| Investor Contact
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800-826-2333
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| Toll Free Phone Number |
800-826-2333 |
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