The Pharmaceutical BOXES are single securities tied to the performance of the DGE Index and are not subject to ongoing fees and expenses. They offer a total return performance of the Index, plus an annual supplemental coupon and are exchangeable for an amount of cash based on the aggregate value of the common stocks underlying the BOXES.
"The Pharmaceutical BOXES will provide investors exposure to the DGE Index in a single trade," said Richard Mikaliunas, senior vice president for the Capital Markets Group at the Amex. "They combine the attractive features of sector investing, providing diversification, convenience and cost effectiveness in a single security," he added.
At maturity on October 30, 2031, holders will receive as repayment of principal an amount of cash based on the closing prices of the underlying stocks of the DGE Index. The Pharmaceutical BOXES also entitle holders to receive, as interest, certain coupon amounts.
The issuer is Morgan Stanley Dean Witter & Co. and the Amex specialist unit for the new listing is Wolverine Trading, L.P.
The Amex Equal Weighted Pharmaceutical Index (DGE) is an equal dollar weighed index. It is designed to represent a cross section of widely held, highly capitalized companies involved in various phases of the pharmaceutical industry. It has the same components of the Amex Pharmaceutical Index (DRG).
For further information on BOXES, please contact the Capital Markets Group at the American Stock Exchange at +1 212 306-1659.
