Published on 12/23/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 trigger PLUS linked to S&P 500, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Dec. 23 – Morgan Stanley priced $500,000 of 0% trigger Performance Leveraged Upside Securities due Dec. 23, 2020 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 220% of the return of the lesser-performing index.
If either index finishes at or below its initial level but both indexes finish at or above their trigger levels, the payout will be par. For each index, the trigger level is 65% of its initial level.
If either index finishes below its trigger level, investors will be fully exposed to the decline of the lesser-performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $500,000
|
| Maturity: | Dec. 23, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus 220% of return of lesser-performing index; if either index finishes at or below initial level but both indexes finish at or above trigger levels, par; if either index finishes below trigger level, full exposure to decline of lesser-performing index
|
| Initial index levels: | 2,005.55 for S&P 500 and 3,260.72 for Euro Stoxx 50
|
| Trigger levels: | 1,303.608 for S&P 500 and 2,119.468 for Euro Stoxx 50; 65% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.875%
|
| Cusip: | 61761JR92
|
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