Morgan Stanley plans 8.85% contingent income autocalls on Chevron

New York, June 25 – Morgan Stanley Finance LLC plans to price 8.85% contingent income autocallable securities due July 2, 2021 linked to the common stock of Chevron Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The notes will pay a contingent quarterly coupon at an annual rate of 8.85% if the stock closes at or above its 80% downside threshold on the determination date for that quarter.

The notes will be automatically called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly determination date beginning on Dec. 28, 2018.

The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

The notes will price on June 29 and settle on July 5.

The Cusip number is 61768Q882.

© 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.