Published on 7/31/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.73 million 20-year contingent coupon notes tied to two indexes
By Susanna Moon
Chicago, July 31 – Morgan Stanley priced $1.73 million of contingent coupon notes due July 31, 2034 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each index closes at or above its barrier level, 80% of its initial level, on the observation date for that month.
The payout at maturity will be par plus the final coupon.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Contingent coupon notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $1,728,000
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Maturity: | July 31, 2034
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Coupon: | 7% annualized per month that each index closes at or above coupon barrier level for that month
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Price: | Par
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Payout at maturity: | Par plus contingent monthly coupon
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Initial index levels: | 1,139.502 for Russell, 3,171.55 for Euro Stoxx
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Coupon barriers: | 80% of initial levels
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61761JRZ4
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