Published on 4/7/2009 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3 million buffered digital securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 7 - Morgan Stanley plans to price $3 million 0% buffered digital securities due Oct. 14, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial level, the payout at maturity will be par plus 8.1%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered digital securities
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Underlying index: | S&P 500
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Amount: | $3 million
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Maturity: | Oct. 14, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial level, par plus 8.1%; if index declines by 20% or less, par; 1.25% loss for every 1% index decline beyond 20%
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Initial index level: | 835.48
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Pricing date: | April 6
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Settlement date: | April 14
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 0.1%
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