Collapse of Pinnacle Notes Series 3

Hi Mr Tan,

Just when the public thought the toxic structured products saga has been settled, another one of the Morgan Stanley's Pinncale Notes Series has gone into mandatory redemption. Hong Leong Finance, one of 7 distributors of the Series 3 has informed me(see attached)that there is a mandatory redemption event and investors will lose all or substantially all their original principle invested. This happened not because of a reference entity like Lehman has collapsed but simply because the Notes have invested in a lot of unknown companies that have now defaulted. 


Many S'pore investors are just being told of this shocking Christmas present and more bad news may come as Series 2 and 6 are also sinking. 


Please post this in your blog as the creator and distributor of this product should not be allowed to get away with this. They used big corporate names as Reference entities to misled public into investing the product but actually invested something else!