Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Russell 2000 index > News item |
Morgan Stanley plans 15-year 7.5% contingent income notes on indexes
By Susanna Moon
Chicago, May 15 – Morgan Stanley Finance LLC plans to price contingent income securities due May 27, 2033 linked to the worse performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The coupon will be fixed at 7.5% for the first five years. After that, the notes will pay a contingent quarterly coupon at an annual rate 7.5% if each index closes at or above its 70% coupon threshold on the determination date for that quarter.
The payout at maturity will be par unless any index closes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
The notes will price on May 24 and settle on May 30.
The Cusip number is 61768CZ67.
© 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.