By Jennifer Chiou
New York, June 12 - Morgan Stanley priced $1.6 million of 0% optimal entry return enhanced notes due June 11, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The lookback level will be the index's lowest closing level during the 60 days beginning at pricing. In no case will the initial index value be greater than 1,643.38, which was the closing level on June 7.
If the index finishes above the lookback level, the payout at maturity will be par plus two times the gain, up to a maximum return of 20.1%.
If the index finishes at the lookback level, the payout will be par.
Otherwise, investors will lose 1% for every 1% drop beyond the lookback level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Optimal entry return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.6 million
|
| Maturity: | June 11, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than lookback level, par plus 200% of gain, capped at 20.1%; otherwise, 1% loss for every 1% that final index level is less than lookback level
|
| Lookback level: Index's lowest closing level during 60 calendar days beginning on pricing date
|
| Pricing date: | June 7
|
| Settlement date: | June 12
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61761JHT9
|
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