Published on 7/31/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $959,000 contingent income notes linked to Russell 2000
By Susanna Moon
Chicago, July 31 - Morgan Stanley priced $959,000 of contingent income notes due July 31, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7% if index closes at or above its 50% barrier level on the determination date for that month.
The payout at maturity will be par plus the final contingent coupon unless the index finishes below the 50% barrier level, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
|
Issue: | Contingent income notes
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Underlying index: | Russell 2000
|
Amount: | $959,000
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Maturity: | July 31, 2028
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Coupon: | 7% annualized for each month that index close at or above barrier level on monthly determination date
|
Price: | Par
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Payout at maturity: | Par plus any contingent coupon unless index finishes below barrier level, in which case fully exposure to any losses
|
Initial index levels: | 1,048.51
|
Barrier level: | 524.255, 50% of initial level
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Pricing date: | July 26
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Settlement date: | July 31
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 3.5%
|
Cusip: | 61761JJS9
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