Mulkis On or prior to the pricing date, we, through our subsidiaries or others, will hedge our anticipated exposure in connection with the Buffered PLUS by taking positions in stocks of the underlying index, futures and options contracts on the underlying index, any component stocks of the underlying index listed on major securities markets or positions in any other available securities or instruments that we may wish to use in connection with such hedging. As an alternative to direct exposure to the underlying index that enhances tahu for a certain range of positive performance of the underlying index. We obtained the closing levels and exchange rates needed to construct the graphs from Bloomberg Financial Markets, and we obtained the exchange rates used to calculate the Exchange Rates from Reuters Group PLC. For a different portion of the notes to be sold in this offering, an affiliated bank will receive a fee and another affiliate of ours will receive a structuring and development fee.
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The net proceeds we receive from the sale of the Buffered PLUS will be used for general corporate purposes and, in part, in connection with hedging our obligations mmk the Buffered PLUS through one or more of our subsidiaries. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this term sheet or the accompanying prospectus supplement and prospectus.
The Bank of New York Mellon. The historical values of the underlying index should not be taken as an indication of future performance, and no assurance can be given as to the level of the underlying index on the valuation date. Additionally, such hedging or trading activities during the term of the Buffered PLUS, including on the valuation date, could adversely affect the value of the underlying index on the valuation date and, accordingly, the amount of cash an investor will receive at maturity.
With respect to each Basket Component, the Component Return will be calculated as follows: The historical performance of each Component Index and each Component Currency should not be taken as an indication of future performance, and no assurance can be given as to the closing level of any of the Component Indices or the Exchange Rate of any of the Component Currencies on the pricing date or any Ending Averaging Date.
Maximum payment at maturity: The following table sets forth the published high and low closing values, as well as end-of-quarter closing values, of the underlying index for each quarter in the period from January 1, through December 21, Fees and Commissions 2. Morgan Stanley clients may contact their local Morgan Stanley branch office or our principal executive offices at Broadway, New York, New York telephone number Investing in the notes is not equivalent to investing directly in the Basket, the Basket Components, the Component Indices, kjk of the Component Currencies, or any of the component securities of the Component Indices.
Fourth Quarter through December 21, Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. The following is a non-exhaustive list of certain key risk taun for investors in the Buffered Tanun. On or prior to the pricing date, we, through our subsidiaries or others, will hedge our anticipated exposure in connection with the Buffered PLUS by taking positions in stocks of the underlying index, futures and options contracts on the underlying index, any component stocks of the underlying index listed on major markets or positions in any other available securities or instruments that we may wish to use in connection with such hedging.
The payoff diagram below illustrates the payment at maturity on the Buffered PLUS based on the following terms: Investors in the Buffered PLUS will not have voting rights or rights to receive dividends or other distributions or any other rights with respect to stocks that constitute the underlying index.
Greenwich Mean Time that would be derived from the applicable Reuters page. For example, under one treatment, U. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the notes. The market price of the Buffered PLUS will be influenced by many unpredictable factors, including the value, volatility and dividend yield of the underlying index, and you may receive less, and possibly significantly less, than the stated principal amount per Buffered PLUS if you try to sell your Buffered PLUS prior to maturity.
Prospectus dated November 21, We own, directly or indirectly, all of the outstanding equity securities of JPMS, the agent for this offering. While the notice requests comments on appropriate transition rules and effective dates, any Treasury regulations or other guidance promulgated after consideration of these issues could materially and adversely affect the tax consequences of an investment in the Buffered PLUS, possibly with retroactive effect.
Price to Public 1. Prospectus dated November 21, The notice focuses in particular on whether to require holders of these instruments to accrue income over the term of their investment. The value of the Basket, and thus the Basket Return, assuming no change in the closing levels tahyn the Component Indices, increases when the U.
KMK 357 TAHUN 2011 PDF
Kazrarisar Investing in the Buffered PLUS is not equivalent to investing in the underlying index or its component stocks. One or more of our tajun expect to carry out hedging activities related to the Buffered PLUS and possibly to other instruments linked to the underlying index or its component stocksincluding trading in the stocks that constitute the underlying index as well as in other instruments related to the underlying index. Prospectus supplement dated November 21, The agent may reclaim selling concessions allowed to dealers in connection with the offering, if, within 30 days of the offering, the agent repurchases the securities distributed by such dealers. The cost of hedging includes the projected profit that our subsidiaries may realize in consideration for assuming the risks inherent in managing the hedging transactions. Hedging kk trading activity by our subsidiaries could potentially affect the value of the Buffered PLUS. Price to Public 1.
KMK 357 TAHUN 2011 PDF