Published on 6/11/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $240,000 9.54% airbag autocallables linked to Palo Alto Networks
By Toni Weeks
San Luis Obispo, Calif., June 11 - Morgan Stanley priced $240,000 of 9.54% airbag autocallable yield optimization notes due June 13, 2014 linked to the common stock of Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if Palo Alto Networks shares close at or above the initial share price on any quarterly observation date beginning Sept. 6.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Palo Alto Networks shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
Issuer: | Morgan Stanley
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Palo Alto Networks, Inc. (Symbol: PANW)
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Amount: | $240,000
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Maturity: | June 13, 2014
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Coupon: | 9.54%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of Palo Alto Networks shares equal to $1,000 divided by conversion price; otherwise, par
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Call: | Automatically at par if Palo Alto Networks shares close at or above initial share price on Sept. 6, Dec. 10, 2013, March 10, 2014 or June 9, 2014
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Initial share price: | $46.20
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Conversion price: | $36.96, 80% of initial share price
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Pricing date: | June 7
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Settlement date: | June 13
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Agent: | Morgan Stanley & Co. LLC with UBS Financial Services Inc. as dealer
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Fees: | 1.5%
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Cusip: | 61761JHS1
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