By Angela McDaniels
Tacoma, Wash., Oct. 24 - Morgan Stanley priced $1.71 million of 0% dual directional trigger Performance Leveraged Upside Securities due April 28, 2017 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the exchange-traded fund's final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 200% of the increase, subject to a maximum payment of $14 per note.
If the final share price is less than or equal to the initial share price but is greater than or equal to the trigger level, the payout will be par plus the absolute value of the ETF return. The trigger level is 80% of the initial share price.
If the final share price is less than the trigger level, investors will be fully exposed to the decline from the initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | iShares MSCI Emerging Markets index fund
|
| Amount: | $1,709,000
|
| Maturity: | April 28, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than initial share price, par plus 200% of increase, subject to maximum payment of $14.00 per note; if final share price is less than or equal to initial share price but is greater than or equal to trigger level, par plus absolute value of ETF return; if final share price is less than trigger level, full exposure to decline from initial share price
|
| Initial share price: | $43.66
|
| Trigger level: | $34.928, 80% of initial share price
|
| Pricing date: | Oct. 22
|
| Settlement date: | Nov. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61762W257
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
