Published on 7/31/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.44 million trigger autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., July 31 - Morgan Stanley priced $2.44 million of 0% trigger autocallable optimization securities due July 31, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning July 29, 2014, the notes will be called at par plus a call return of 8.7% per year if the index closes at or above the initial index level on any quarterly observation date.
If the notes are not called and the index's final level is greater than or equal to the trigger level, 75% of the initial index level, but less than the initial level, the payout at maturity will be par. If the final index level is less than the trigger level, investors will be exposed to the index's decline from its initial level.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $2,437,200
|
| Maturity: | July 31, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par if index finishes at or above trigger level but below initial level; if index finishes below trigger level, full exposure to index decline
|
| Call: | Automatically at par plus 8.7% per year if index closes at or above initial index level on any observation date, which occur quarterly beginning July 29, 2014
|
| Initial index level: | 2,741.73
|
| Trigger level: | 2,056.30, 75% of initial level
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 61762P328
|
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