By Angela McDaniels
Tacoma, Wash., June 27 - Morgan Stanley priced $1.22 million of contingent income autocallable securities due June 28, 2033 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier level, 73.25% of its initial index level, on a monthly determination date, investors will receive a contingent coupon that month at the rate of 9% per year.
Beginning one year after issuance, the notes will be automatically redeemed at par plus the contingent coupon if both indexes close at or above their initial levels on any quarterly redemption determination date.
If the notes are not called and each index finishes at or above its downside threshold level, 50% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. If either index finishes below its downside threshold level, investors will be fully exposed to the decline of the worst-performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying indexes: | Russell 2000 and Euro Stoxx 50
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Amount: | $1,223,000
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Maturity: | June 28, 2033
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Coupon: | If both indexes close at or above coupon barriers on monthly determination date, investors will receive contingent coupon that month at rate of 9% per year
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon, if any; if either index finishes below downside threshold level, full exposure to decline of worst-performing index from initial level
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Call: | Beginning one year after issuance, notes will be automatically redeemed at par plus contingent coupon if both indexes close at or above initial levels on any quarterly redemption determination date
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Initial index levels: | 961.25 for Russell 2000 and 2,543.37 for Euro Stoxx 50
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Coupon barrier levels: | 704.123 for Russell 2000 and 1,863.019 for Euro Stoxx 50; 73.25% of initial levels
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Downside threshold: | 480.63 for Russell 2000 and 1,271.685 for Euro Stoxx 50; 50% of initial levels
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61761JHB8
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