Published on 4/29/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $510,000 contingent income notes linked to Russell 2000, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., April 29 - Morgan Stanley priced $510,000 of contingent income securities due April 30, 2029 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The interest rate is 6.5% for the first five years. After that, the notes will pay a monthly coupon at an annual rate of 6.5% if each index closes at or above its barrier level, 50% of its initial level, on the review date for that month.
If each index finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. If either index finishes below its barrier level, investors will be fully exposed to the decline of the worst-performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $510,000
|
| Maturity: | April 30, 2029
|
| Coupon: | 6.5% for first five years; after that, 6.5% per year payable if each index closes at or above its coupon barrier level on review date for that month; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus final contingent coupon; if either index finishes below barrier level, full exposure to decline of worst-performing index from initial level
|
| Initial index levels: | 1,123.03 for Russell 2000 and 3,147.40 for Euro Stoxx 50
|
| Barrier level: | 561.515 for Russell 2000 and 1,573.70 for Euro Stoxx 50; 50% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JPY9
|
© 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.
