By Susanna Moon
Chicago, Oct. 28 - Morgan Stanley priced $6 million of 0% equity-linked notes with knock-out feature due May 29, 2015 based on the performance of the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
A knock-out event occurs if the fund is at or above 156% of its initial level during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus 5%.
Otherwise, the payout will be par plus any gain, with a minimum return of par plus 5%.
| Issuer: | Morgan Stanley
|
| Issue: | Equity-linked notes with knock-out feature
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $6 million
|
| Maturity: | May 29, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If shares ever gain by 56% or more, par plus 5%; otherwise, par plus any gain with a floor of par plus 5%
|
| Initial price: | $46.50
|
| Knock-out price: | $72.54, or 156% of initial price
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 4%
|
| Cusip: | 617482PD0
|
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