Published on 5/28/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2 million trigger jump notes on S&P 500, Russell
By Toni Weeks
San Luis Obispo, Calif., May 28 - Morgan Stanley priced $2 million of 0% trigger jump securities due Dec. 26, 2014 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its upside payment threshold, 96% of the initial level, the payout at maturity will be par of $10.00 plus the $1.86 upside payment.
If either index is less than the upside payment threshold but both indexes close at or above their respective downside thresholds, 86% of initial levels, the payout will be par.
If either index closes below its downside threshold, investors will be fully exposed to the decline of the worst-performing index.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Smith Barney LLC is the dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger jump securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2 million
|
| Maturity: | Dec. 26, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index closes at or above its upside payment threshold, par plus $1.86 upside payment; if either index falls below upside payment threshold but both indexes close at or above downside thresholds, par; if either index closes below downside threshold, full exposure to decline of worst-performing index
|
| Initial levels: | 1,655.35 for S&P, 982.26 for Russell
|
| Upside thresholds: | 1,589.136 for S&P, 942.97 for Russell, 96% of initial levels
|
| Downside thresholds: | 1,423.601 for S&P, 844.744 for Russell, 86% of initial levels
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 0.5%
|
| Cusip: | 61762E505
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