By Angela McDaniels
Tacoma, Wash., April 23 – Morgan Stanley priced $7.65 million of contingent income autocallable securities due Oct. 20, 2015 linked to the S&P GSCI Crude Oil Index Excess Return, according to an FWP filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annualized rate of 20.1% if the index closes at or above the downside threshold level, 80% of the initial index level, on the determination date for that month.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any of the first five determination dates.
If the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $7,653,000
|
| Maturity: | Oct. 20, 2015
|
| Coupon: | Each month, notes pay contingent coupon at annualized rate of 20.1% if index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final index level is less than initial index level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any of first five determination dates
|
| Initial index level: | 282.2829
|
| Downside threshold: | 225.82632, 80% of initial level
|
| Pricing date: | April 21
|
| Settlement date: | April 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 61762GDR2
|
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