By Jennifer Chiou
New York, Jan. 15 - Morgan Stanley priced $12,623,000 of 0% contingent buffer equity notes due Jan. 29, 2014 linked to the Hang Seng China Enterprises index and the Hong Kong dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the greater of the index return and zero if the final value is at or above 80% of the initial level.
Investors will share in losses beyond the buffer if the index closes below the 80% barrier level.
The index level will be equal to the closing index level on that date multiplied by the Hong Kong dollar exchange rate on that date.
J.P. Morgan Securities LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Contingent buffer equity notes
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Underlying index: | Hang Seng China Enterprises
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Underlying currency: | Hong Kong dollar
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Amount: | $12,623,000
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Maturity: | Jan. 29, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of the index return and zero if the final value is at or above 80% of the initial level; exposure to losses beyond 80% barrier
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Initial exchange rate: | 0.129
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Initial value: | 1,527.69411 (closing index level multiplied by exchange rate on pricing date)
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Pricing date: | Jan. 11
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Settlement date: | Jan. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 61761JBF5
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