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Morgan Stanley to price trigger jump securities linked to S&P 500
By Toni Weeks
San Diego, Jan. 20 - Morgan Stanley plans to price 0% trigger jump securities due January 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the greater of the index return and the upside payment of $2.50 to $2.90 per $10 security. The exact upside payment will be set at pricing.
Investors will receive par if the index declines by up to 35% and will be exposed to losses from the initial level if the index declines by more than 35%.
The notes (Cusip: 61760T397) are expected to price and settle in January.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.
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