By Angela McDaniels
Tacoma, Wash., Feb. 19 – Morgan Stanley priced $7.5 million of 8% worst-of autocallable RevCons due Aug. 22, 2016 linked to the worst performing of the common stocks of TD Ameritrade Holding Corp., Charles Schwab Corp. and E*Trade Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial share price on any quarterly determination date other than the final determination date.
If each stock finishes at or above its downside threshold level, 70% of its initial share price, the payout at maturity will be par. Otherwise, the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price of that stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Worst-of autocallable RevCons
|
| Underlying stocks: | TD Ameritrade Holding Corp. (Symbol: AMTD), Charles Schwab Corp. (Symbol: SCHW) and E*Trade Financial Corp. (Symbol: ETFC)
|
| Amount: | $7.5 million
|
| Maturity: | Aug. 22, 2016
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| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold level, par; otherwise, number of shares of worst-performing stock equal to $1,000 divided by initial share price of that stock
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial share price on any quarterly determination date other than final determination date
|
| Initial share prices: | $35.70 for TD Ameritrade, $29.74 for Charles Schwab and $25.86 for E*Trade
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| Downside thresholds: | $24.99 for TD Ameritrade, $20.818 for Charles Schwab and $18.102 for E*Trade; 70% of initial share prices
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 20
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61761JWV7
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