Morgan Stanley to issue contingent income autocallable securities on S&P 500 index

By Emma Trincal

New York, Nov. 8 – Morgan Stanley Finance LLC will settle contingent income autocallable securities due Aug. 9, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at the annual rate of 5% if the index closes at or above its coupon threshold level, 78% of its initial level, on the related determination date.

The notes will be redeemed early at par if the index closes above its initial level on any quarterly redemption determination date.

The payout at maturity will be plus the coupon for that period plus any previously unpaid coupon unless the final level of the index finishes below its 78% downside threshold, in which case investors will be fully exposed to the index decline.

The final level will be the average of the index closing prices of the five averaging dates – July 29, 2022, Aug. 1, Aug. 2, Aug. 3, and Aug. 4.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes priced on Nov. 5 and will settle on Nov. 10.

The Cusip number is 61773HEZ8.

© 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.