Morgan Stanley has unveiled a new oil linked exchange-traded note (ETN). The Morgan Stanley S&P 500 Crude Oil Linked ETN will be equally weighted between near-term NYMEX West Texas Intermediate Light Sweet Crude and ICE Brent Crude Oil futures contracts.The S&P 500 Oil Hedged Index will be the benchmarked index for the new product. Morgan Stanley will be listing the portfolio on the NYSE Arca.
Click here for the release from Morgan Stanley.