Published on 5/22/2009 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.58 million protected notes linked to currencies
By Susanna Moon
Chicago, May 22 - Morgan Stanley priced $4.58 million of zero-coupon capital-protected notes due May 29, 2012 linked to the performance of a basket of nine currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of six developed market currencies with a 70% weighting, equally distributed, and three emerging market currencies with a 30% weighting, also equally distributed.
The underlying developed market currencies are the Australian dollar, British pound, Canadian dollar, euro, Japanese yen and Swiss franc. The emerging market currencies are the Brazilian real, Chinese renminbi and Indian rupee.
The payout at maturity will be par plus 160% of any basket gain.
Investors will receive at least par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Capital-protected notes
|
| Underlying currencies: | With 70% weighting, equally distributed: Australian dollar, British pound, Canadian dollar, euro, Japanese yen and Swiss franc; with 30% weighting, equally distributed: Brazilian real, Chinese renminbi and Indian rupee
|
| Amount: | $4,579,000
|
| Maturity: | May 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 160% of any basket gain; floor of par
|
| Initial exchange rates: | 0.77040 for Australian dollar, 1.57165 for British pound, 1.14485 for Canadian dollar, 1.37685 for euro, 94.57500 for Japanese yen, 1.10340 for Swiss franc, 2.02640 for Brazilian real, 6.82450 for Chinese renminbi and 47.40000 for Indian rupee
|
| Pricing date: | May 21
|
| Settlement date: | May 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 2.5%
|
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