Published on 10/27/2011 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $7.36 million trigger PLUS on Financial Select SPDR fund
By Jennifer Chiou
New York, Oct. 27 - Morgan Stanley priced $7.36 million of 0% trigger Performance Leveraged Upside Securities due Oct. 28, 2014 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 131% of any increase in the fund share price.
Investors will receive par if the share price falls by up to 40% and will be fully exposed to losses from the initial price if it drops more than 40%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
|
Issue: | Trigger Performance Leveraged Upside Securities
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Underlying fund: | Financial Select Sector SPDR fund
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Amount: | $7,361,540
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Maturity date: | Oct. 28, 2014
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If fund gains, par plus 131% of gain; par if fund has fallen by up to 40%; full exposure to losses if fund falls beyond 40%
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Initial price: | $13.02
|
Trigger price: | $7.812, 60% of initial price
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Pricing date: | Oct. 25
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Settlement date: | Oct. 28
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 3%
|
Cusip: | 61760T140
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