By Angela McDaniels
Tacoma, Wash., Aug. 23 - Morgan Stanley priced $6.2 million of 8.42% Worst of RevCons due Sept. 12, 2014 linked to the worst performing of the IBEX 35 index and the FTSE MIB index, according to a 424B2 filing with the Securities and Exchange Commission.
The former index is a price return index composed of the 35 most liquid securities listed on the Stock Exchange Interconnection System of the four Spanish Stock Exchanges. The latter index is the primary benchmark index for the Italian equity markets.
Interest is payable at maturity.
The payout at maturity will be par unless either index finishes below its initial level and the level of either index has declined to or below its downside threshold level, 75% of its initial level, at any time on any day during the life of the notes, in which case the payout will be par minus 1% for every 1% that the worst-performing index's final level is below its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Worst of RevCons
|
| Underlying indexes: | IBEX 35 index and FTSE MIG index
|
| Amount: | $6.2 million
|
| Maturity: | Sept. 12, 2014
|
| Coupon: | 8.42%, payable at maturity
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial level and level of either index has declined to or below downside threshold level at any time on any day during life of notes, in which case par minus 1% for every 1% that worst-performing index's final level is below initial level
|
| Initial index levels: | 8,461.80 for IBEX 35 and 16,877.93 for FTSE MIB
|
| Downside thresholds: | 6,364.35 for IBEX 35 and 12,658.448 for FTSE MIB; 75% of initial levels
|
| Pricing date: | Aug. 21
|
| Settlement date: | Sept. 12
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61761JKU2
|
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