Morgan Stanley to price knock-out notes tied to S&P 500 via JPMorgan

By Angela McDaniels

Tacoma, Wash., Sept. 21 - Morgan Stanley plans to price 0% knock-out notes due April 10, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes below 75% of the initial index level on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and a contingent minimum return of at least 12%.

In each case, the payout will be subject to a maximum return of 30%.

The exact contingent minimum return will be set at pricing.

The notes (Cusip 617482NR1) are expected to price Sept. 24 and settle Oct. 1.

JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.

© 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.