Published on 3/18/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.27 million capped leveraged notes tied to basket of indexes
By Wendy Van Sickle
Columbus, Ohio, March 18 – Morgan Stanley priced $3.27 million of 0% capped leveraged notes due March 21, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Tokyo Stock Price index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum payout of $1,403.50 for each $1,000 principal amount of notes.
Investors will receive par if the basket falls by up to 12.5% and will lose 1.1429% for every 1% decline beyond 12.5%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Capped leveraged notes
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Underlying indexes: | Euro Stoxx 50 (37% initial weight), FTSE 100 (23% initial weight), Tokyo Stock Price index (23% initial weight), Swiss Market (9% initial weight) and S&P/ASX 200 (8% initial weight)
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Amount: | $3,271,000
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Maturity: | March 21, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.5 times any basket gain up to $1,403.50 maximum payout per note; par if basket falls by up to 12.5%; 1.1429% for every 1% decline beyond 12.5%.
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Initial levels: | 3,062.05 for Euro Stoxx, 6,175.49 for FTSE, 1,360.50 for Tokyo, 7,916.43 for Swiss Market and 5,119.027 for S&P/ASX
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Pricing date: | March 16
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Settlement date: | March 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61761J2R9
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