Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.42 million trigger performance notes on S&P 500
By Toni Weeks
San Luis Obispo, Calif., July 31 – Morgan Stanley priced $5.42 million of 0% trigger performance securities due July 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 138.34% of any index gain.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
Issuer: | Morgan Stanley
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $5,415,500
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Maturity: | July 31, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 138.34% of index return; par if index falls by up to 25%; full exposure to losses from initial level if index falls by more than 25%
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Initial level: | 2,093.25
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Trigger level: | 1,569.94, 75% of initial level
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 61765G515
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