Published on 7/3/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.1 million trigger jump notes due 2017 linked to commodities
By Susanna Moon
Chicago, July 3 – Morgan Stanley priced $2.1 million of 0% trigger jump securities due Jan. 5, 2017 linked to a basket of six equally weighted commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying commodities are West Texas Intermediate light sweet crude oil, RBOB gasoline, copper, palladium, soybeans and cotton.
If the basket finishes above its initial level, the payout at maturity will equal par plus the greater of the return and the upside payment of 12%.
Investors will receive par if the basket falls by up to 20% and will be fully exposed to any losses if the basket finishes below the 80% trigger level.
Morgan Stanley & Co. LLC is the underwriter.
Issuer: | Morgan Stanley
|
Issue: | Trigger jump securities
|
Underlying basket: | West Texas Intermediate light sweet crude oil, RBOB gasoline, copper, palladium, soybeans and cotton, equally weighted
|
Amount: | $2,102,000
|
Maturity: | Jan. 5, 2017
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus any basket gain, floor of 12%; par for losses up to 20%; fully exposure to any losses if basket falls below trigger
|
Trigger level: | 80% of initial level
|
Pricing date: | June 30
|
Settlement date: | July 3
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 2.25%
|
Cusip: | 61762GBR4
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.