Published on 11/4/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.03 million notes with averaging linked to ETFs
By Angela McDaniels
Tacoma, Wash., Nov. 4 - Morgan Stanley priced $5.03 million of 0% market-linked notes due April 30, 2019 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the iShares MSCI EAFE index fund, the iShares MSCI Emerging Markets index fund and the WisdomTree Japan Hedged Equity fund.
The payout at maturity will be par of $10 plus the basket return, subject to a minimum payout of par.
The final basket level will be the average of the basket's closing levels on the 22 quarterly determination dates over the term of the notes.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Market-linked notes
|
| Underlying ETFs: iShares MSCI EAFE index fund, iShares MSCI Emerging Markets index fund and WisdomTree Japan Hedged Equity fund, equally weighted
|
| Amount: | $5,033,840
|
| Maturity: | April 30, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus basket return, subject to minimum payout of par
|
| Initial share prices: | $65.88 for EAFE ETF; $42.46 for Emerging Markets ETF; $47.68 for Japan ETF
|
| Final basket level: | Average of basket's closing levels on 25th day of each January, April, July and October from Jan. 25, 2014 to April 25, 2019
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61762W265
|
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