Published on 8/25/2008 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $13.48 million 'jump' protected notes linked to BRIC currencies
By Susanna Moon
Chicago, Aug. 25 - Morgan Stanley priced $13.48 million of zero-coupon "jump" capital-protected notes due Aug. 31, 2011 linked to a basket of four equally weighted emerging market currencies, according to an FWP filing with the Securities and Exchange Commission.
The underlying currencies are the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.
Payout at maturity will be par plus the greater of $350, the jump amount, or the basket gain. Investors will receive at least par.
Morgan Stanley & Co. Inc. will be the agent.
Issuer: | Morgan Stanley
|
Issue: | "Jump" capital-protected notes
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Underlying currencies: | Brazilian real, Russian ruble, Indian rupee and Chinese renminbi
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Amount: | $13,481,000
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Maturity: | Aug. 31, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of $350, the jump amount, or the basket gain; floor of par
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Initial exchange rates: | 1.6209 for the real, 24.2992 for the ruble, 43.38 for the rupee and 6.8357 for the renminbi
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Pricing date: | Aug. 22
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Settlement date: | Aug. 29
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 2%
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