Published on 4/24/2009 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $14.39 million of buffered PLUS linked to S&P 500 index
By Susanna Moon
Chicago, April 24 - Morgan Stanley priced $14.39 million of 0% buffered Performance Leveraged Upside Securities due April 20, 2011 linked inversely to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus double any index gain, up to a maximum payout of $14.85 per note.
Investors will be exposed to losses of up to 90%.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $14,392,460
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Maturity: | April 20, 2011
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus double any index gain, capped at 148.5% of par; par minus any losses, floor of $1.00
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Initial level: | 851.92
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Pricing date: | April 23
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Settlement date: | April 30
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.75%
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