E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/2/2011 in the Prospect News Structured Products Daily.

Morgan Stanley to price knock-out notes linked to Telefonica via JPM

By Jennifer Chiou

New York, March 2 - Morgan Stanley plans to price 0% knock-out notes due Sept. 6, 2012 linked to the ordinary shares of Telefonica, SA, according to an FWP with the Securities and Exchange Commission.

If Telefonica stock closes below the initial share price by more than 25% on any day during the life of the notes, the payout at maturity will be par plus the stock return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the stock return and 19.3%.

The notes (Cusip: 617482RW6) will price on March 4 and settle on March 11.

J.P. Morgan Securities LLC is the lead agent with Morgan Stanley & Co. Inc. as co-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.