Published on 12/31/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.75 million market-linked notes on S&P 500
By Jennifer Chiou
New York, Dec. 30 – Morgan Stanley priced $1,747,000 of 0% market-linked notes with 10% principal at risk due Dec. 31, 2020 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 61.5%.
If the index falls, investors will share in up to 10% of losses. The minimum payout is 90% of par.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
Issuer: | Morgan Stanley
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Issue: | Market-linked notes
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Underlying index: | S&P 500
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Amount: | $1,747,000
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Maturity: | Dec. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 61.5%; exposure to first 10% of losses, floor of 90% of par
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Initial index level: | 2,088.77
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 61761JVF3
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