Published on 1/27/2012 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $231,000 buffered range accrual notes on S&P 500
By Susanna Moon
Chicago, Jan. 27 - Morgan Stanley priced $231,000 of buffered range accrual securities due Jan. 28, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 9% for each day that the index closes at or above the 80% threshold level.
Investors will receive par if the index falls by up to 20% and will be exposed any losses beyond 20%.
Morgan Stanley & Co. LLC will be the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered range accrual securities
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Underlying index: | S&P 500
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Amount: | $231,000
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Maturity: | Jan. 28, 2016
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Coupon: | 9% annualized for each that day that index closes at or above threshold; payable monthly
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Price: | Par
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Payout at maturity: | Par if index falls by up to 20% buffer and exposure to losses beyond 20%
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Initial level: | 1,326.05
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Index threshold value: | 1,060.84, 80% of initial level
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 617482E91
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