Published on 5/29/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 contingent coupon notes linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., May 29 – Morgan Stanley priced $500,000 of contingent coupon notes due May 29, 2035 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.
Each month, the notes will pay a contingent coupon at the rate of 7% per year if each index closes at or above its barrier level, 80% of its initial level, on the observation date for that month.
The payout at maturity will be par plus the final 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: | $500,000
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Maturity: | May 29, 2035
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Coupon: | 7% per year, payable monthly only if each index closes at or above barrier level on observation date for that month
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Price: | Par
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Payout at maturity: | Par plus final coupon, if any
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Initial levels: | 1,238.756 for Russell 2000 and 3,619.30 for Euro Stoxx 50
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Barrier levels: | 991.005 for Russell 2000 and 2,895.44 for Euro Stoxx 50; 80% of initial levels
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61761JYU7
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