Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Financials Select Sector index > News item |
Morgan Stanley plans contingent buffer equity notes on S&P 500 sectors
By Tali Rackner
Norfolk, Va., Aug. 5 – Morgan Stanley plans to price 0% contingent buffer equity notes due March 1, 2017 linked to an equally weighted basket of four indexes derived from the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The basket is comprised of the Financials Select Sector index, Technology Select Sector index, Consumer Discretionary Select Sector index and Health Care Select Sector index.
A knock-out event occurs if the final average basket value closes below the 82% knock-out level.
If a knock-out event has not occurred, the payout at maturity will be par of $1,000 plus the greater of the contingent minimum return of 0% and any basket gain, up to a maximum payment of $1,150.
If a knock-out event has occurred, the payout will be par plus the basket return, with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
The notes will price on Aug. 21 and settle on Aug. 26.
The Cusip number is 61761JG86.
© 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.