Published on 11/3/2014 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.15 million contingent coupon notes on Russell, Euro Stoxx
By Marisa Wong
Madison, Wis., Nov. 3 – Morgan Stanley priced $2.15 million of contingent coupon notes due Oct. 31, 2034 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that month.
The payout at maturity will be par plus the final coupon, if any.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Contingent coupon notes
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $2,148,000
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Maturity: | Oct. 31, 2034
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Coupon: | Contingent coupon at an annual rate of 7% if each index closes at or above its barrier level on the observation date for that month
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Price: | Par
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Payout at maturity: | Par plus the final coupon, if any
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Initial index levels: | 1,149.452 for Russell 2000 and 3,036.15 for Euro Stoxx 50
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Barrier levels: | 862.089 for Russell 2000 and 2,277.113 for Euro Stoxx 50; 75% of initial levels
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Pricing date: | Oct. 28
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Settlement date: | Oct. 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61761JTW9
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