By Jennifer Chiou
New York, Jan. 2 - Morgan Stanley priced $9,684,020 of trigger phoenix autocallable optimization securities due Dec. 20, 2017 linked to the iShares Russell 2000 index fund and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If both funds close at or above the 59.31% trigger level on any quarterly observation date, the notes will pay a contingent coupon of 8% for that quarter.
If both funds close at or above the initial price on any quarterly observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called, the payout at maturity will be par plus the contingent coupon unless either fund finishes below the trigger price, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying funds: | iShares Russell 2000 index fund and SPDR S&P 500 ETF Trust
|
| Amount: | $9,684,020
|
| Maturity: | Dec. 20, 2017
|
| Coupon: | 8%, payable quarterly if both funds close at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon unless either fund finishes below the trigger price, in which case investors exposed to any losses
|
| Call: | Automatically at par plus contingent coupon if funds close at or above initial price on a quarterly observation date after one year
|
| Initial prices: | $82.48 for Russell; $142.12 for SPDR
|
| Trigger prices: | 59.31% of initial prices
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 19
|
| Underwriters: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61761H830
|
© 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.
