New York, May 25 – Morgan Stanley Finance LLC priced $11.68 million of contingent income autocallable securities due May 26, 2023 linked to Exxon Mobil Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75%, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Aug. 22 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Exxon Mobil Corp.
|
| Amount: | $11,678,400
|
| Maturity: | May 26, 2023
|
| Coupon: | 10.75%, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying stock
|
| Call: | Automatically starting Aug. 22 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial level: | $91.86
|
| Downside threshold: | $59.709, 65% of initial level
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75% including a structuring fee of 0.5%
|
| Cusip: | 61773Y821
|
|
|
|
|
© 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.
