By Toni Weeks
San Diego, July 27 - Morgan Stanley priced $5.5 million of 0% trigger Performance Leveraged Upside Securities due July 25, 2014 linked to a basket of three equally weighted exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 Exchange-Traded Fund trust, the iShares MSCI Emerging Markets Index fund and the iShares MSCI EAFE Index fund.
The payout at maturity will be par plus 1.5 times the basket return, subject to a maximum payment of $15.50 per $10.00 note.
If the basket falls by up to 15%, the payout will be par.
Investors will be fully exposed to losses should the basket decline by more than 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying funds: | SPDR S&P 500 ETF trust, iShares MSCI Emerging Markets Index fund and iShares MSCI EAFE Index fund
|
| Amount: | $5.5 million
|
| Maturity date: | July 25, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times basket return, subject to maximum payment of $15.50 per $10.00 note; par if basket falls by up to 15%; full exposure to losses for declines beyond 15%
|
| Initial prices: | $133.83 for SPDR S&P 500 ETF trust, $47.55 for emerging markets fund and $59.81 for MSCI EAFE fund
|
| Pricing date: | July 25
|
| Settlement date: | July 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61760E457
|
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