By Susanna Moon
Chicago, March 5 - Morgan Stanley priced $16.47 million of contingent income autocallable securities due March 6, 2017 linked to Seagate Technology plc shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if the stock closes at or above its 70% barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any of the first 11 determination dates.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 70% barrier level, in which case investors will receive a number of Seagate shares equal to par of $10.00 divided by the initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Seagate Technology plc (Symbol: STX)
|
| Amount: | $16,469,260
|
| Maturity: | March 6, 2017
|
| Coupon: | 13% annualized for each quarter that shares close at or above barrier level on quarterly determination date
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus any contingent coupon unless stock finishes below barrier level, in which case 0.19161 Seagate shares
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any of first 11 review dates
|
| Initial price: | $52.19
|
| Barrier price: | $36.533, 70% of initial price
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61760S449
|
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