By Susanna Moon
Chicago, June 22 - Morgan Stanley priced $7 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 25, 2014 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the price of gold, up to a maximum return of par plus $230 per per $1,000 principal amount.
If the price of gold finishes below its initial price but at or above the 75% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses if the gold falls below the trigger level.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying asset: | Gold
|
| Amount: | $7,001,000
|
| Maturity: | June 25, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any asset gain, capped at 23%; if gold falls but price ends at or above trigger level, par plus absolute value of return; full exposure to losses if gold falls below trigger level
|
| Initial price: | $1,601.00
|
| Trigger price: | $1,200.75, 75% of initial price
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 2.25%
|
| Cusip: | 617482N67
|
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