Published on 7/29/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.91 million trigger autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., July 29 – Morgan Stanley priced $10.91 million of 0% trigger autocallable optimization securities due July 24, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Aug. 1, 2016, the notes will be called at par of $10 plus a call return of 8% per year if the index closes at or above the initial level on any quarterly observation date.
If the notes are not called and the index finishes at or above the trigger level, 58.5% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial level.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
Issuer: | Morgan Stanley
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Issue: | Trigger autocallable optimization securities
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Underlying index: | Euro Stoxx 50
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Amount: | $10,914,000
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Maturity: | July 24, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than or equal to trigger level, par; otherwise, full exposure to losses
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Call option: | Beginning Aug. 1, 2016, automatically at par plus 8% per year if index closes at or above initial level on any quarterly observation date
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Initial index level: | 3,600, index’s closing level on July 24
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Trigger level: | 2,106, 58.5% of initial level
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Pricing date: | July 27
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Settlement date: | July 30
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 61765G747
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