By Angela McDaniels
Tacoma, Wash., Nov. 22 – Morgan Stanley priced $6.24 million of 0% trigger participation securities due Nov. 28, 2018 linked to a basket of 45 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the following:
• Johnson & Johnson with a 5.5% weight;
• Dover Corp. with a 5.5% weight;
• Pentair plc with a 5.5% weight;
• Pfizer Inc. with a 5.5% weight;
• FirstEnergy Corp. with a 5.13% weight;
• NRG Energy, Inc. with a 4.09% weight;
• Alexion Pharmaceuticals, Inc. with a 4% weight;
• Horizon Pharma plc with a 4% weight;
• Teva Pharmaceutical Industries Ltd. with a 3.8% weight;
• Mylan Inc. with a 3.5% weight;
• Eaton Corp. with a 3.5% weight;
• Endo International plc with a 2.8% weight;
• Cemex, SAB de CV with a 2.74% weight;
• Mallinckrodt plc with a 2.73% weight;
• Martin Marietta Materials, Inc. with a 2.63% weight;
• United States Steel Corp. with a 2.61% weight;
• Vulcan Materials Co. with a 2.52% weight;
• Fluor Corp. with a 2.5% weight;
• United Rentals, Inc. with a 2.37% weight;
• PPG Industries, Inc. with a 2.17% weight;
• Acuity Brands, Inc. with a 2.1% weight;
• AK Steel Holding Corp. with a 2% weight;
• Eagle Materials Inc. with a 1.81% weight;
• A.O. Smith Corp. with a 1.62% weight;
• Owens Corning with a 1.53% weight;
• Axalta Coating Systems Ltd. with a 1.5% weight;
• USG Corp. with a 1.5% weight;
• RPM International Inc. with a 1.5% weight;
• Aecom with a 1.49% weight;
• Chicago Bridge & Iron Co. NV with a 1.49% weight;
• Jacobs Engineering Group Inc. with a 1.35% weight;
• Louisiana-Pacific Corp. with a 1.16% weight;
• Valspar Corp. with a 1.15% weight;
• KBR, Inc. with a 1% weight;
• Summit Materials Inc. with an 0.8% weight;
• Emcor Group, Inc. with a 0.71% weight;
• MasTec, Inc. with a 0.68% weight;
• Beacon Roofing Supply, Inc. with a 0.6% weight;
• Armstrong World Industries, Inc. with a 0.5% weight;
• Trex Co., Inc. with a 0.49% weight;
• Headwaters Inc. with a 0.43% weight;
• Universal Forest Products, Inc. with a 0.43% weight;
• Granite Construction Inc. with a 0.37% weight;
• Builders FirstSource, Inc. with a 0.35% weight; and
• H.B. Fuller Co. with a 0.35%.
The payout at maturity will be par plus any basket gain, subject to a maximum return of 28%. Investors will receive par if the basket declines by 15% or less. If the basket declines by more than 15%, investors will lose 1% for every 1% that the final basket level is less than the initial basket level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Trigger participation securities
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Underlying basket: | 45 stocks
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Amount: | $6.24 million
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Maturity: | Nov. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final basket level is greater than or equal to initial basket level, par plus basket return, subject to maximum return of 28%; if basket declines by 15% or less, par; if final basket level is less than 85% of initial level, 1% loss for every 1% that basket declines from initial level
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Pricing date: | Nov. 18
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Settlement date: | Nov. 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61761JZ69
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