Published on 10/31/2012 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $457,000 trigger jump notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 31 - Morgan Stanley priced $457,000 of 0% trigger jump securities due Oct. 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the greater of any index gain and the fixed amount of $400 per $1,000 principal amount.
Investors will receive par if the index falls by up to 50% and will be fully exposed to any losses if the index drops below the 50% trigger.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Trigger jump securities
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Underlying index: | S&P 500
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Amount: | $457,000
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Maturity: | Oct. 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus return, floor of $1,400 per $1,000 of notes; par if index falls by 50% or less; full exposure to losses if index drops below trigger
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Initial index level: | 1,411.94
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Trigger level: | 705.970, 50% of initial index level
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 6174822T0
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