By Susanna Moon
Chicago, May 28 - Morgan Stanley priced $7 million of contingent income securities due May 31, 2028 linked to 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 8.35% if the index closes at or above the 75% coupon barrier level on the observation date for that quarter.
If the index finishes at or above the 50% trigger level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $7 million
|
| Maturity: | May 31, 2028
|
| Coupon: | 8.35% annualized per quarter if index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if index finishes at or above trigger level; otherwise, full exposure to losses
|
| Initial index level: | 2,776.78
|
| Coupon barrier level: | 2,082.585, 75% of initial level
|
| Trigger level: | 1,388.39, 50% of initial level
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 2.33%
|
| Cusip: | 61761JGW3
|
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