Published on 12/23/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.66 million contingent income notes linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 23 – Morgan Stanley priced $1.66 million of contingent income securities due Dec. 23, 2030 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The interest rate is 7% for the first five years. In years six through 15, the notes will pay a contingent coupon at the rate of 7% per year if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that month.
If each index finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. If the final level of either index is less than its barrier level, investors will be fully exposed to the decline of the lower-performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $1,659,000
|
| Maturity: | Dec. 23, 2030
|
| Coupon: | In years one through five, 7%, payable monthly; in years six through 15, notes pay contingent coupon at rate of 7% per year if each index closes at or above barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus final contingent coupon; if final level of either index is less than barrier level, full exposure to decline of lower-performing index
|
| Initial index levels: | 1,121.020 for Russell 2000 and 3,260.72 for Euro Stoxx 50
|
| Barrier levels: | 560.510 for Russell 2000 and 1,630.36 for Euro Stoxx 50; 50% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JR43
|
© 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.
