Published on 3/22/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.9 million PLUS linked to Alerian MLP ETF
By Angela McDaniels
Tacoma, Wash., March 22 – Morgan Stanley priced $2.9 million of 0% Performance Leveraged Upside Securities due April 5, 2017 linked to the Alerian MLP exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF’s return is positive, the payout at maturity will be par of $10 plus 200% of the ETF’s return, subject to a maximum return of 43%. Investors will be exposed to the losses if the ETF declines.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying ETF: | Alerian MLP ETF
|
| Amount: | $2,901,900
|
| Maturity: | April 5, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 200% of any ETF gain, capped at 43%; full exposure to any ETF decline
|
| Initial share price: | $11.12
|
| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61766A186
|
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