By Taylor Fox
New York, Aug. 30 – Morgan Stanley Finance LLC priced $10.82 million of trigger autocallable contingent yield notes due Feb. 27, 2031 linked to the iStoxx Global Fintech 30 NR Decrement 5% 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 7.57% per year if the index closes at or above the coupon barrier, 70% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the index close at or above the initial share price on any quarterly observation date after one year.
If the notes are not called and the final index level is greater than or equal to the downside threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying index: | iStoxx Global Fintech 30 NR Decrement 5% index
|
Amount: | $10,815,670
|
Maturity: | Feb. 27, 2031
|
Contingent coupon: | 7.57% annual rate, payable quarterly if index closes at or above coupon barrier level on related quarterly observation date
|
Price: | Par of $10
|
Payout at maturity: | Par unless index finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
Call: | Automatically at par if index closes at or above initial level on any quarterly observation date after one year
|
Initial prices: | 3,289.87
|
Coupon barrier level: | 2,302.87, 70% of initial level
|
Threshold level: | 1,973.89, 60% of initial level
|
Pricing date: | Feb. 24
|
Settlement date: | Feb. 26
|
Agents: | UBS Financial Services Inc. and Morgan Stanley
|
Fees: | 3.5%
|
Cusip: | 61771U276
|
|
© 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.