By Kiku Steinfeld
Chicago, Dec. 16 – Morgan Stanley Finance LLC priced $1.68 million of callable contingent income securities due June 13, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the MSCI Emerging Markets index, 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 the rate of 8.5% per year if each asset closes at or above its coupon barrier level, 65% of its initial level, on the observation date that period.
If each asset finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par.
If any asset finishes below its downside threshold, investors will be fully exposed to the decline of the least-performing asset from its initial level.
The notes will be callable quarterly at par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying assets: | Nasdaq-100 index, Russell 2000 index and MSCI Emerging Markets index
|
| Amount: | $1.68 million
|
| Maturity: | June 13, 2024
|
| Coupon: | 8.5% per year, payable quarterly if each asset closes at or above coupon barrier level on observation date that period
|
| Price: | Par
|
| Payout at maturity: | Par if each asset finishes at or above downside threshold; if any asset finishes below downside threshold, full exposure to decline of least-performing asset from its initial level
|
| Call option: | At par quarterly
|
| Initial levels: | 12,364.64 for Nasdaq, 1,902.147 for Russell and 1,255.85 for EM
|
| Coupon barriers: | 8,037.016 for Nasdaq, 1,236.396 for Russell and 816.303 for EM; 65% of initial levels
|
| Downside thresholds: | 8,037.016 for Nasdaq, 1,236.396 for Russell and 816.303 for EM; 65% of initial levels
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61771ESY5
|
|
|
© 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.
