Published on 10/11/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3 million trigger jump securities on S&P, Russell
By Marisa Wong
Madison, Wis., Oct. 11 - Morgan Stanley priced $3 million of 0% trigger jump securities due Dec. 28, 2017 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index's final level is greater than or equal to its upside threshold, the payout at maturity will be par of $10 plus an upside payment of $5.625. Each index's upside threshold is 97% of its initial level.
If the final level of either index is less than its upside threshold but the final level of each index is greater than or equal to its downside threshold, the payout will be par. Each index's downside threshold is 77% of its initial level.
If the final level of either index is below the downside threshold, investors will lose 1% for each 1% that the worse-performing index's final level is below its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger jump securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $3 million
|
| Maturity: | Dec. 28, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index's final level is greater than or equal to its upside threshold, par plus 56.25%; if final level of either index is less than its upside threshold but final level of each index is greater than or equal to its downside threshold, par; otherwise, investors will lose 1% for each 1% that worst-performing index's final level is below its initial level
|
| Initial index levels: | 1,655.45 for S&P 500 and 1,047.26 for Russell 2000
|
| Upside thresholds: | 1,605.787 for S&P 500, 1,015.842 for Russell 2000; 97% of initial levels
|
| Downside thresholds: | 1,274.697 for S&P 500 and 806.390 for Russell 2000; 77% of initial levels
|
| Pricing date: | Oct. 9
|
| Settlement date: | Oct. 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.58%
|
| Cusip: | 61762W356
|
© 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.
