Published on 3/1/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.31 million trigger step notes tied to Stoxx 50
By Susanna Moon
Chicago, March 1 – Morgan Stanley priced $1.31 million of 0% trigger step performance securities due Feb. 28, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step return, which will be 42.65%, and the index return.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is the dealer.
Issuer: | Morgan Stanley
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Issue: | Trigger step performance securities
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Underlying index: | Euro Stoxx 50
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Amount: | $1,305,000
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Maturity: | Feb. 28, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus greater of 42.65% and return; par if index falls by 25% or less; full exposure to losses if index finishes below trigger level
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Initial index level: | 2,877.42
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Trigger level: | 2,158.07, 75% of initial level
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Pricing date: | Feb. 25
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Settlement date: | Feb. 29
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 3%
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Cusip: | 61765U852
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