By Angela McDaniels
Seattle, April 17 - Morgan Stanley priced a $13.912 million issue of 0% buffered return enhanced notes due Oct. 17, 2008 linked to the S&P 500 index via JPMorgan Chase Bank NA and J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any positive return on the index, subject to a maximum return of 15.1%.
Investors will receive par if the index declines by up to 10% and will lose 1.1111% for each 1% that the index falls beyond 10%.
The final index level will be the average of the index's closing levels on Oct. 7, Oct. 8, Oct. 9, Oct. 10 and Oct. 14 of 2008.
Issuer: | Morgan Stanley
|
Issue: | Buffered return enhanced notes
|
Underlying index: | S&P 500
|
Amount: | $13.912 million
|
Maturity: | Oct. 17, 2008
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus double any index gain, capped at 15.1%; par if index falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
|
Initial index level: | 1,452.85
|
Pricing date: | April 13
|
Settlement date: | April 20
|
Agents: | JPMorgan Chase Bank NA and J.P. Morgan Securities Inc.
|
Agent fees: | 1.5%
|
© 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.