By Angela McDaniels
Tacoma, Wash., March 28 - Morgan Stanley priced $2.91 million of 0% dual directional trigger Performance Leveraged Upside Securities due March 31, 2014 linked to the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's final share price is greater than the initial share price, the payout at maturity will be par of $10.00 plus 150% of the increase, subject to a maximum payment of $12.40 per note.
If the final share price is less than or equal to the initial share price but is greater than or equal to the trigger level, the payout will be par plus the absolute value of the ETF return. The trigger level is 75% of the initial share price.
If the final share price is less than the trigger level, investors will be fully exposed to the decline from the initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | iShares MSCI EAFE index fund
|
| Amount: | $2,906,900
|
| Maturity: | March 31, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any fund gain, up to maximum return of 24%; if fund finishes below initial level but at or above trigger level, par plus absolute value of ETF return; full exposure to decline if shares fall beyond trigger level
|
| Initial share price: | $55.47
|
| Trigger price: | $41.6025, 75% of initial share price
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61760T595
|
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