By Susanna Moon
Chicago, Sept. 18 – Morgan Stanley priced $1 million of 0% return enhanced notes due Oct. 5, 2015 linked to the American Depositary Shares of Petroleo Brasileiro SA, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any gain in the stock, up to a maximum return of 42.6%.
Investors will be exposed to any losses.
Morgan Stanley & Co. LLC is the agent, with J.P. Morgan Securities LLC as dealer.
| Issuer: | Morgan Stanley
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| Issue: | Return enhanced notes
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| Underlying stock: | Petroleo Brasileiro SA (NYSE: PBR)
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| Amount: | $1 million
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| Maturity: | Oct. 5, 2015
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any stock gain, capped at 42.6%; exposure to any losses
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| Initial share price: | $17.51
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 19
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 61761JTK5
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