Published on 12/1/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.65 million trigger performance notes linked to S&P 500
By Susanna Moon
Chicago, Dec. 1 – Morgan Stanley priced $6.65 million of 0% trigger performance securities due Nov. 29, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 117.06% of any index gain.
Investors will receive par if the index falls by up to 40% and will be fully exposed to any losses if the index finishes below the 60% trigger level.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.
Issuer: | Morgan Stanley
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $6,647,470
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Maturity: | Nov. 29, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 117.06% of any index gain; par if index falls by up to 40%; full exposure to any losses if index finishes below trigger level
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Initial level: | 2,069.41
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Trigger level: | 1,241.65, 60% of initial level
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Pricing date: | Nov. 24
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Settlement date: | Nov. 28
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Agents: | Morgan Stanley & Co. LLC and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 61764C663
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