Published on 5/9/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.8 million return enhanced notes on Hang Seng, Hong Kong dollar
By Angela McDaniels
Tacoma, Wash., May 9 - Morgan Stanley priced $3.8 million of 0% return enhanced notes due May 27, 2014 linked to the Hang Seng China Enterprises index and the Hong Kong dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level is equal to the index's closing level on the pricing date multiplied by the spot rate, the number of U.S. dollars per Hong Kong dollar, on that date. The final index level will be the average of the index's currency-adjusted closing levels on the five trading days ending May 22, 2014.
If the final index level is greater than the initial level, the payout at maturity will be par plus two times the index return, subject to a maximum return of 30%.
If the final index level is less than the initial level, investors will be fully exposed to the decline.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Return enhanced notes
|
| Underlyings: | Hang Seng China Enterprises index and Hong Kong dollar
|
| Amount: | $3,795,000
|
| Maturity: | May 27, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial level, par plus two times index return, subject to maximum return of 30%; f final index level is less than initial level, full exposure to decline
|
| Initial index level: 1,433.835, which equals index's closing index level, 11,115, multiplied by spot rate on pricing date, 0.129
|
| Final index level: | Average of currency-adjusted closing levels on five trading days ending May 22, 2014
|
| Pricing date: | May 7
|
| Settlement date: | May 10
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 61761JGK9
|
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