Published on 3/4/2013 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $8.87 million contingent income autocallables on two indexes
By Jennifer Chiou
New York, March 4 - Morgan Stanley priced $8,874,000 of contingent income autocallable securities due March 5, 2020 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8% if each underlying index closes at or above the 70% coupon barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent quarterly coupon if each index closes above its initial level on any annual determination dates after three years.
If each underlying index finishes at or above the 50% downside threshold level, the payout at maturity will be par plus the contingent monthly payment.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | S&P 500, Euro Stoxx 50
|
| Amount: | $8,874,000
|
| Maturity: | March 5, 2020
|
| Coupon: | Contingent quarterly payment of 8% per year if each index closes at or above barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above downside threshold level; otherwise full exposure to losses
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly call date beginning on March 5, 2016
|
| Initial levels: | 1,514.68 for S&P 500, 2,633.55 for Euro Stoxx
|
| Coupon barrier levels: | 1,060.276 for S&P 500, 1 1,843.485 for Euro Stoxx, 70% of initial level
|
| Downside threshold levels: | 757.34 for S&P 500, 1,316.775 for Euro Stoxx, 50% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JDF3
|
© 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.
