Published on 3/5/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $15.03 million PLUS linked to commodities basket
By Susanna Moon
Chicago, March 5 - Morgan Stanley priced $15.03 million of 0% Performance Leveraged Upside Securities due Sept. 3, 2014 linked to a basket of six equally weighted precious commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying commodities are copper, RBOB gasoline, live cattle, palladium, soybeans and West Texas Intermediate light sweet crude oil.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 15%.
Investors will be exposed to any losses.
Morgan Stanley & Co. LLC is the underwriter.
Issuer: | Morgan Stanley
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Issue: | Performance Leveraged Upside Securities
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Underlying basket: | Copper, RBOB gasoline, live cattle, palladium, soybeans and West Texas Intermediate light sweet crude oil, equally weighted
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Amount: | $15.03 million
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Maturity: | Sept. 3, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any basket gain, capped at 15%; exposure to any losses
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Initial levels: | $7,097.50 for copper, 278.98¢ for RBOB gasoline, 144.975¢ for live cattle, $746 for palladium, 1,414¢ for soybeans and $102.59 for West Texas Intermediate light sweet crude oil
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Pricing date: | Feb. 28
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Settlement date: | March 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.5%
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Cusip: | 61762GAZ7
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