By Toni Weeks
San Luis Obispo, Calif., April 1 - Morgan Stanley priced $6.41 million of 0% return enhanced notes due April 16, 2014 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 plus double any gain in the index, subject to a maximum return of 15.1%.
Investors will be fully exposed to any decline in the index.
The final index level will be the average of the closing index levels on the five trading days ending April 11, 2014.
Morgan Stanley & Co. LLC is the agent, and J.P. Morgan Securities LLC is the dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,406,000
|
| Maturity: | April 16, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any gain in the index, subject to maximum return of 15.1%; full exposure to any index decline
|
| Initial level: | 1,569.19
|
| Final level: | Average of index closing levels on five trading days ending April 11, 2014
|
| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC as dealer
|
| Fees: | 1%
|
| Cusip: | 61761JEM7
|
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