By Susanna Moon
Chicago, Oct. 31 - Morgan Stanley priced $4.88 million of contingent income autocallable securities due Oct. 30, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 9%, if the index closes at or above the barrier level on a monthly determination date.
If the index closes at or above the initial level on any quarterly call date after four years, the notes will be called at par plus the contingent coupon.
If the notes are not called, investors will receive par plus the final contingent coupon if the index finishes at or above 530 barrier level and will be fully exposed to any losses if the index finishes below the barrier level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Russell 2000
|
| Amount: | $4,883,000
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 9% annualized for each month that index closes at or above barrier level on monthly determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent coupon if index falls by up to barrier level; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly call date beginning October 2016
|
| Initial level: | 813.25
|
| Barrier level: | 530, 65.17% of initial level
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 6174822V5
|
© 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.
