Published on 12/30/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.06 million contingent coupon notes on indexes
By Toni Weeks
San Luis Obispo, Calif., Dec. 30 – Morgan Stanley priced $1.06 million of contingent coupon notes due Dec. 29, 2034 linked to the Euro Stoxx 50 index and the Russell 2000 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 7% if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that month.
The payout at maturity will be par plus the final contingent coupon, if any.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Contingent coupon notes
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $1,059,000
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Maturity: | Dec. 29, 2034
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Coupon: | 7% annualized, payable monthly if each index closes at or above its barrier level on observation date for month
|
Price: | Par
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Payout at maturity: | Par plus final contingent coupon, if any
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Initial levels: | 1,202.438 for Russell and 3,192.47 for Euro Stoxx
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Coupon barriers: | 961.95 for Russell and 2,553.976 for Euro Stoxx; 80% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61761JVH9
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