Published on 8/25/2009 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.42 million 0% buffered PLUS linked to S&P 500
By Susanna Moon
Chicago, Aug. 25 - Morgan Stanley priced $3.42 million of 0% buffered Performance Leveraged Upside Securities due Aug. 29, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any index gain, up to a maximum payment of $12.425 per note.
Investors will receive par if the index falls by up to 10% and will be exposed to losses beyond 10%.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $3,422,750
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Maturity: | Aug. 29, 2011
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus double any index gain, capped at 124.25% of par; par if index falls by up to 10% and exposure to losses beyond 10%
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Initial level: | 1,025.57
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Pricing date: | Aug. 24
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Settlement date: | Aug. 31
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.75%
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