By Angela McDaniels
Tacoma, Wash., Sept. 6 - Morgan Stanley priced $2.47 million of 0% knock-out notes due Sept. 9, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 40% during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus 151.5% of the index return, subject to a minimum payout of par.
If a knock-out event occurs and the final index level is greater than the initial index level, the payout will be par plus 151.5% of the index return.
If a knock-out event occurs and the final index level is less than the initial index level, investors will be fully exposed to the decline.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.47 million
|
| Maturity: | Sept. 9, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index does not close below 60% of initial index level during life of notes, par plus 151.5% of index return, subject to minimum payout of par; if knock-out event occurs and index finishes above initial level, par plus 151.5% of index return; if knock-out event occurs and final index level is less than initial level, full exposure to decline
|
| Initial index level: | 1,204.42
|
| Pricing date: | Sept. 1
|
| Settlement date: | Sept. 9
|
| Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC as dealer
|
| Fees: | 2.5%
|
| Cusip: | 617482XZ2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
