By Toni Weeks
San Diego, Sept. 15 - Morgan Stanley priced $20.6 million of 0% trigger Performance Leveraged Upside Securities due Sept. 26, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 170% of any gain in the index.
Investors will receive par if the index falls up to 50% and will be fully exposed to losses from the initial level if it drops more than 50%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $20.6 million
|
| Maturity date: | Sept. 26, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 170% of gain in index; par if index has fallen by up to 50%; par plus index return with full exposure to losses if index falls beyond 50%
|
| Initial level: | 1,172.87
|
| Trigger level: | 586.435, 50% of initial level
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61760P726
|
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