Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Morgan Stanley > News item |
Morgan Stanley plans issue of 0% PLUS notes linked to Financial Select Sector SPDR Fund
By E. Janene Geiss
Philadelphia, Aug. 27 - Morgan Stanley plans to price 0% Performance Leveraged Upside Securities (PLUS) due Oct. 20, 2008 linked to the Financial Select Sector SPDR Fund index, according to an FWP filing with the Securities and Exchange Commission.
The Financial Select Sector SPDR Fund is an exchange-traded fund managed by the Select Sector SPDR Trust, which consists of nine separate investment portfolios. The Financial Select Sector SPDR Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Financial Select Sector Index.
The notes are expected to price and settle in September.
The payout at maturity will be par of $10 plus any positive return on the index times an upside leverage factor of 200%, up to a maximum that will be determined at pricing and expected to be between $12.20 and $12.40 per note. Investors will participate fully in any loss.
Morgan Stanley & Co. Inc. will be the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.