PERQS(redirected from Performance Equity-Linked Redemption Quarterly-pay Securities)
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Debt securities, issued by Morgan Stanley, with a maturity value linked to the value of the underlying stock to which the security is linked. PERQS are convertible into the underlying stock, and pay fixed quarterly interest rates (the dollar value of which depends on the value of the underlying). Unlike some other debt securities, they are not redeemable early.