Published on 9/4/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.53 million contingent income notes on Russell
By Marisa Wong
Madison, Wis., Sept. 4 - Morgan Stanley priced $3.53 million of contingent income securities due Sept. 8, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the index closes at or above its 75% coupon barrier level on the determination date for that quarter.
The payout at maturity will be par plus the final contingent coupon, if any, unless the index finishes below the 65% downside threshold level, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying index: | Russell 2000
|
| Amount: | $3,528,000
|
| Maturity: | Sept. 8, 2020
|
| Coupon: | 7.5% annualized for each quarter that index closes at or above barrier level on related determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus any contingent coupon unless index finishes below downside threshold level, in which case fully exposure to any losses
|
| Initial index level: | 1,010.90
|
| Coupon barrier level: | 758.175, 75% of initial level
|
| Downside threshold level: 657.085, 65% of initial level
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JKT5
|
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