Published on 4/30/2013 in the Prospect News Structured Products Daily.
New issue: Morgan Stanley prices $6.18 million PLUS with cap linked to S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., April 30 - Morgan Stanley priced $6.18 million of 0% Performance Leveraged Upside Securities due April 29, 2016 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 both indexes finish above their initial level, the payout at maturity will be par plus the 1.5 times leveraged upside performance of the worst-performing underlying index, up to a maximum payout of $1,380 per $1,000 principal amount.
Otherwise, investors will lose 0.5% for every 1% decline in the worst-performing underlying index.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Performance Leveraged Upside Securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $6,177,000
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Maturity: | April 29, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index's return is positive, par plus 150% of the worst-performing index's return, capped at 38%; otherwise, 0.5% loss for every 1% decline of worst-performing index
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Initial index levels: | 1,585.16 for S&P 500 and 940.28 for Russell
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61761JFG9
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