E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/17/2015 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley sells $1.3 million contingent income autocallables on S&P GSCI Crude

By Susanna Moon

Chicago, June 17 – Morgan Stanley priced $1.3 million of contingent income autocallable securities due June 17, 2020 linked to the worst performing of the S&P GSCI Crude Oil Index - Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter.

The payout at maturity will be par plus the final coupon unless the index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.

The notes will be called at par if the index closes at or above its initial level on any call date after six months.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley
Issue:Contingent income autocallable securities
Underlying index:S&P GSCI Crude Oil Index - Excess Return
Amount:$1,295,000
Maturity:June 17, 2020
Coupon:10% for each quarter index closes at or above coupon barrier level on the observation date for that quarter
Price:Par
Payout at maturity:Par plus coupon unless index finishes below its barrier level, in which case investors will be fully exposed to any losses
Initial level:294.0915
Coupon barrier:235.2732, 80% of initial level
Trigger level:205.86405, 70% of initial level
Call:At par if index closes at or above initial level on any call date beginning Dec. 14, 2015
Pricing date:June 12
Settlement date:June 17
Agent:Morgan Stanley & Co. LLC
Fees:2%
Cusip:61762GDY7

© 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.