Published on 6/12/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.5 million trigger jump notes on S&P 500, Russell
By Susanna Moon
Chicago, June 12 – Morgan Stanley priced $2.5 million of 0% trigger jump securities due April 3, 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 closes at or above its upside payment threshold, 120% of the initial level, the payout at maturity will be par of $10.00 plus the $6.12 upside payment.
If either index is less than the upside payment threshold but both indexes close at or above their respective downside thresholds, 80% of initial levels, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley
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| Issue: | Trigger jump securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2.5 million
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| Maturity: | April 3, 2017
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index closes at or above its upside payment threshold, par plus $6.12 upside payment; if either index falls below upside payment threshold but both indexes close at or above downside thresholds, par; otherwise, full exposure to losses of worst performing index
|
| Initial levels: | 2,339.328 for S&P, 1,398.252 for Russell
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| Upside thresholds: | 1,949.44 for S&P, 1,165.21 for Russell; 120% of initial levels
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| Downside thresholds: | 1,559.552 for S&P, 932.168 for Russell; 80% of initial levels
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| Pricing date: | June 9
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| Settlement date: | June 12
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as dealer
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| Fees: | 0.9%
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| Cusip: | 61761S471
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