Published on 3/13/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.1 million contingent income notes linked to three indexes
By Susanna Moon
Chicago, March 13 - Morgan Stanley priced $3.1 million of contingent income securities due March 13, 2029 linked to the worst performing of the S&P 500 index, Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each index closes at or above its 63.5% coupon barrier level on a determination date for that month.
The payout at maturity will be par plus the final contingent coupon, unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying indexes: | S&P 500 index, Russell 2000, Euro Stoxx 50
|
| Amount: | $3.1 million
|
| Maturity: | March 13, 2029
|
| Coupon: | 8% annualized, payable monthly, if each index closes at or above its barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its 80% downside threshold level, par plus the final contingent coupon; otherwise, full exposure to losses of worst performing index
|
| Initial index levels: | 1,878.04 for S&P, 1,203.316 for Russell, 3,095.31 for Euro Stoxx
|
| Coupon barrier levels: | 1,192.555 for S&P, 764.106 for Russell, 1,965.522 for Euro Stoxx; 63.5% of initial levels
|
| Trigger levels: | 1,126.824 for S&P, 721.99 for Russell, 1,857.186 for Euro Stoxx; 60% of initial levels
|
| Pricing date: | March 10
|
| Settlement date: | March 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JPS2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
