Published on 3/28/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.5 million enhanced trigger jump securities on S&P, Russell
By Marisa Wong
Madison, Wis., March 28 - Morgan Stanley priced $1.5 million of 0% enhanced trigger jump securities due March 28, 2016 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 above its downside threshold level, 63.75% of the initial level, on every day during the life of the notes, the payout at maturity will be par plus 20%.
If either index ever closes at or below its downside threshold level, the payout will be par plus the return of the worst performing index, with full exposure to losses.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Enhanced trigger jump securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1.5 million
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Maturity: | March 28, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If neither index drops to or below downside threshold during life of notes, par plus 20%; otherwise, par plus return of worst performing index, with full exposure to losses
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Initial levels: | 1,563.77 for S&P, 949.82 for Russell
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Downside thresholds: | 996.903 for S&P, 605.51 for Russell; 63.75% of initial levels
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Pricing date: | March 26
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Settlement date: | March 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61761JEQ8
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