Morgan Stanley plans contingent income autocallable securities on Tesla

By Marisa Wong

Morgantown, W.Va., Sept. 26 – Morgan Stanley plans to price contingent income autocallable securities due Sept. 28, 2018 linked to Tesla Motors, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above the downside threshold level, 50% of its initial price, on a quarterly determination date, the notes will pay a contingent payment at an annual rate of 12% for that quarter.

If the stock closes at or above its initial price on any of the quarterly determination dates beginning March 2017, the notes will be redeemed at par plus the contingent payment.

If the stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment. Otherwise, investors will be fully exposed to any losses.

The agent is Morgan Stanley & Co. LLC.

The notes will price on Sept. 27.

The Cusip number is 61761J3P2.

© 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.