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Morgan Stanley plans contingent real-return notes on S&P, CPI via UBS
By Susanna Moon
Chicago, March 10 - Morgan Stanley plans 0% contingent real-return performance securities due March 31, 2016 linked to the S&P 500 index and the Consumer Price Index, according to an FWP filing with the Securities and Exchange Commission.
If the S&P 500 finishes at or above the trigger level - 52% to 60% of the initial level - the payout at maturity will be par of $10 plus the greater of the S&P 500 return and the CPI return, with a floor of par. The actual trigger level will be set at pricing.
Otherwise, the payout will be par plus the return with exposure to any losses in the S&P 500, regardless of the performance of the CPI.
UBS Financial Services Inc. and Morgan Stanley & Co. Inc. are the agents.
The notes will price on March 28 and settle on March 31.
The Cusip is 61747WAH2.
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