Business and Personal Finance Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- PROTECTED EXCHANGEABLE EQUITY-LINKED SECURITIES
The Morgan Stanley Group, Inc.'s proprietary, listed (American Stock Exchange) equity index derivative product, which pays off at maturity (4/20/01) the greater of issue price ($69.55) or 10% of the S&P 500 Index value on that date. The owner may from 11/17/97 to seven trading days before 4/20/01) exchange 100 PEEQS for ten times the S&P 500 Index level. Thus, at each dividend date, the owner has the option to forgo the dividend in return for a compound option that ultimately pays off as mentioned. (Cf. SPINs.)Back