Published on 2/28/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $7.28 million market-linked autocallable step-up notes on Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., Feb. 28 - Morgan Stanley priced $7.28 million of market-linked autocallable step-up notes due Feb. 28, 2033 with five-year initial non-call period linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the 80% barrier level on a monthly determination date, the notes will pay a contingent coupon for that month. The coupon is 7% initially, stepping up to 8% on Feb. 28, 2018, to 10% on Feb. 28, 2023 and to 15% on Feb. 28, 2028.
The notes will be redeemed at par plus the contingent monthly coupon if the index closes at or above the initial level on any quarterly redemption determination date beginning Feb. 28, 2018.
The payout at maturity will be par plus the final contingent monthly coupon.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Market-linked autocallable step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $7,281,000
|
| Maturity: | Feb. 28, 2033
|
| Coupon: | Contingent monthly payment if index closes at or above barrier level on monthly determination date; coupon is 7% initially, stepping up to 8% on Feb. 28, 2018, to 10% on Feb. 28, 2023 and to 15% on Feb. 28, 2028
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent monthly coupon
|
| Call: | Automatically at par plus contingent monthly coupon if index closes at or above initial level on any quarterly redemption determination date beginning Feb. 28, 2018
|
| Initial level: | 2,651.86
|
| Barrier level: | 2,121.488, 80% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JBZ1
|
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