By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Morgan Stanley Finance LLC priced $18.18 million of contingent income autocallable securities due Oct. 5, 2023 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.35% if the stock closes at or above its coupon barrier, 70% of its initial level, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date other than the final one.
The payout at maturity will be par unless the stock finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income autocallable securities
|
Underlying stock: | Microsoft Corp.
|
Amount: | $18,181,880
|
Maturity: | Oct. 5, 2023
|
Coupon: | 9.35% per year, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | If final share price is greater than or equal to downside threshold level, par; otherwise, full exposure to stock’s decline
|
Call: | Par plus the contingent coupon if the stock closes above its initial level on any quarterly redemption date other than final one
|
Initial share price: | $210.33
|
Downside threshold: | $147.231, 70% of initial share price
|
Pricing date: | Sept. 30
|
Settlement date: | Oct. 5
|
Agent: | Morgan Stanley & Co. LLC
|
Dealer: | Morgan Stanley Wealth Management LLC
|
Fees: | 2.5%
|
Cusip: | 61771D480
|
|
© 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.