Published on 11/5/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $889,000 trigger PLUS linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Nov. 5 – Morgan Stanley priced $889,000 of 0% trigger Performance Leveraged Upside Securities due Oct. 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 180% of the index return. Investors will receive par if the index declines by 50% or less and will be fully exposed to the index’s decline from its initial level if it falls by more than 50%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $889,000
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Maturity: | Oct. 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 180% of index return; par if final index level is less than or equal to initial level but greater than trigger level; full exposure to index’s decline from initial level if final level is less than trigger level
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Initial index level: | 2,065.89
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Trigger level: | 1,032.945, 50% of the initial price
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61761JM30
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