Published on 6/26/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million trigger jump notes on S&P, Russell
By Marisa Wong
Madison, Wis., June 26 - Morgan Stanley priced $1 million of 0% trigger jump securities due May 31, 2017 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's final level is greater than or equal to its downside threshold, the payout at maturity will be par plus 48.98%. Each index's downside threshold is 80% of its initial level.
If the final level of either index is less than its downside threshold, investors will lose 1% for each 1% that the worst-performing index's final level is below its initial level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Trigger jump securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1 million
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Maturity: | May 31, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If each index's final level is greater than or equal to its downside threshold, par plus 48.98%; otherwise, investors will lose 1% for each 1% that worst-performing index's final level is below its initial level
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Initial index levels: | 1,592.43 for S&P 500 and 963.68 for Russell 2000
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Downside thresholds: | 1,273.944 for S&P 500 and 770.944 for Russell 2000; 80% of initial levels
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Pricing date: | June 24
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Settlement date: | June 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.31%
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Cusip: | 61762E828
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