By Angela McDaniels
Tacoma, Wash., April 2 - Morgan Stanley priced $1.84 million of 0% contingent buffer equity notes due April 16, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 20% during the life of the notes.
If a knock-out event has not occurred, the payout at maturity will be par plus the index return, subject to a minimum return of zero.
If a knock-out event has occurred, the payout will be par plus the index return, with full exposure to any losses.
In both cases, the payout is subject to a maximum return of 13.85%.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as dealers.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent buffer equity notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,838,000
|
| Maturity: | April 16, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index level falls by more than 20% during life of notes, par plus index return with full exposure to losses; otherwise, par plus greater of index return and zero; in either case, payout is subject to maximum return of 13.85%
|
| Initial index level: | 1,569.19
|
| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealers: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 61761JEN5
|
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