By Angela McDaniels
Tacoma, Wash., Nov. 22 – Morgan Stanley priced $6.24 million of 0% trigger participation securities due Nov. 28, 2018 linked to a basket of 45 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the following:
• Johnson & Johnson with a 5.5% weight;
• Dover Corp. with a 5.5% weight;
• Pentair plc with a 5.5% weight;
• Pfizer Inc. with a 5.5% weight;
• FirstEnergy Corp. with a 5.13% weight;
• NRG Energy, Inc. with a 4.09% weight;
• Alexion Pharmaceuticals, Inc. with a 4% weight;
• Horizon Pharma plc with a 4% weight;
• Teva Pharmaceutical Industries Ltd. with a 3.8% weight;
• Mylan Inc. with a 3.5% weight;
• Eaton Corp. with a 3.5% weight;
• Endo International plc with a 2.8% weight;
• Cemex, SAB de CV with a 2.74% weight;
• Mallinckrodt plc with a 2.73% weight;
• Martin Marietta Materials, Inc. with a 2.63% weight;
• United States Steel Corp. with a 2.61% weight;
• Vulcan Materials Co. with a 2.52% weight;
• Fluor Corp. with a 2.5% weight;
• United Rentals, Inc. with a 2.37% weight;
• PPG Industries, Inc. with a 2.17% weight;
• Acuity Brands, Inc. with a 2.1% weight;
• AK Steel Holding Corp. with a 2% weight;
• Eagle Materials Inc. with a 1.81% weight;
• A.O. Smith Corp. with a 1.62% weight;
• Owens Corning with a 1.53% weight;
• Axalta Coating Systems Ltd. with a 1.5% weight;
• USG Corp. with a 1.5% weight;
• RPM International Inc. with a 1.5% weight;
• Aecom with a 1.49% weight;
• Chicago Bridge & Iron Co. NV with a 1.49% weight;
• Jacobs Engineering Group Inc. with a 1.35% weight;
• Louisiana-Pacific Corp. with a 1.16% weight;
• Valspar Corp. with a 1.15% weight;
• KBR, Inc. with a 1% weight;
• Summit Materials Inc. with an 0.8% weight;
• Emcor Group, Inc. with a 0.71% weight;
• MasTec, Inc. with a 0.68% weight;
• Beacon Roofing Supply, Inc. with a 0.6% weight;
• Armstrong World Industries, Inc. with a 0.5% weight;
• Trex Co., Inc. with a 0.49% weight;
• Headwaters Inc. with a 0.43% weight;
• Universal Forest Products, Inc. with a 0.43% weight;
• Granite Construction Inc. with a 0.37% weight;
• Builders FirstSource, Inc. with a 0.35% weight; and
• H.B. Fuller Co. with a 0.35%.
The payout at maturity will be par plus any basket gain, subject to a maximum return of 28%. Investors will receive par if the basket declines by 15% or less. If the basket declines by more than 15%, investors will lose 1% for every 1% that the final basket level is less than the initial basket level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger participation securities
|
| Underlying basket: | 45 stocks
|
| Amount: | $6.24 million
|
| Maturity: | Nov. 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level is greater than or equal to initial basket level, par plus basket return, subject to maximum return of 28%; if basket declines by 15% or less, par; if final basket level is less than 85% of initial level, 1% loss for every 1% that basket declines from initial level
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61761JZ69
|
© 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.
