By Toni Weeks
San Diego, May 26 - Morgan Stanley priced $14.5 million of 0% trigger Performance Leveraged Upside Securities due May 23, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 150% of any increase in the index, subject to a maximum return of 44%.
If the final index level is greater than 80% of the initial level and less than or equal to the initial level, the payout will be par.
If the final index level is 80% of the initial level or less, the payout will be par plus the index return.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $14.5 million
|
| Maturity: | May 23, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 150% of increase in index, subject to maximum return of 44%; par if index has fallen by up to 20%; par plus the index return if index falls beyond 20%
|
| Initial level: | 1,316.28024, 80% of initial level
|
| Trigger level: | 1,053
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3%
|
| Cusip: | 61760E622
|
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