E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 11/26/2014 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $2.95 million eight-year TOPS linked to S&P 500

By Susanna Moon

Chicago, Nov. 26 – Morgan Stanley priced $2.95 million of 0% Target Optimized Participation Securities due Nov. 28, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus the greater of the lookback percent increase and the fixed return of 25%.

The lookback percent increase will be the highest closing value of the index on the weekly observation dates.

Otherwise, the payout will be par plus 125% of the return.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley
Issue:Target Optimized Participation Securities
Underlying index:S&P 500
Amount:$2,949,000
Maturity:Nov. 28, 2022
Coupon:0%
Price:Par
Payout at maturity:If index gains, par plus greater of lookback percent increase and 25%; otherwise, par plus 125% of the return
Initial index level:2,063.50
Pricing date:Nov. 21
Settlement date:Nov. 26
Agent:Morgan Stanley & Co. LLC
Fees:3.5%
Cusip:61761JUF4

© 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.