Market Vectors Currency ETNs are senior, unsecured debt securities issued by Morgan Stanley that deliver exposure to the exchange rate of a specific foreign currency. The Market Vectors-Double Short Euro ETN seeks to track the performance of the Double Short Euro Index (DSHRTEUR), less investor fees3. The Index is intended to be an investable alternative to a two-times leveraged, short investment in the value of the euro relative to the U.S. dollar. As the Index is two-times leveraged, for every 1% weak weakening of the euro relative to the U.S. dollar, the level of the Index will generally increase by 2%, while for every 1% strengthening of the euro relative to the U.S. dollar, the Index will generally decrease by 2%.
