Market Vectors Currency Exchange Traded Notes are senior, unsecured debt securities issued by Morgan Stanley that deliver exposure to the exchange rate of foreign currencies.
The Market Vectors-Chinese Renminbi/USD ETN seeks to track the performance of the S&P Chinese Renminbi Total Return Index (SPCBCNY), less investor fees. Investors may trade the ETN on an exchange at market price or receive, at maturity or upon early redemption, a cash payment from the issuer based on Index performance, less investor fees.
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