Published on 9/16/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2 million trigger jump securities on S&P, Russell
By Toni Weeks
San Luis Obispo, Calif., Sept. 16 - Morgan Stanley priced $2 million of 0% trigger jump securities due Jan. 2, 2015 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 $1.605. 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 87% 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: | $2 million
|
| Maturity: | Jan. 2, 2015
|
| 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 16.05%; 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: | 1,689.13 for S&P 500 and 1,055.34 for Russell 2000
|
| Upside thresholds: | 1,638.456 for S&P 500, 1,023.68 for Russell 2000; 97% of initial levels
|
| Downside thresholds: | 1,469.543 for S&P 500 and 918.146 for Russell 2000; 87% of initial levels
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 17
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61762P872
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