Published on 1/4/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.23 million contingent income autocallables linked to Stoxx, MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Jan. 4 – Morgan Stanley priced $2.23 million of contingent income autocallable securities due Dec. 28, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.3% if each index closes at or above its downside threshold level, i0% of its initial index level, on the determination date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly redemption determination date.
If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of either index is less than its downside threshold level, investors will be fully exposed to the decline of the lesser-performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Euro Stoxx 50 and MSCI EAFE
|
| Amount: | $2,225,000
|
| Maturity: | Dec. 28, 2018
|
| Coupon: | 9.3% per year, payable quarterly if each index closes at or above its downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus final contingent coupon; if final level of either index is less than downside threshold level, full exposure to decline of lesser-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly redemption determination date
|
| Initial index levels: | 1,727.47 for MSCI EAFE and 3,287.98 for Euro Stoxx 50
|
| Downside threshold: | 1,381.976 for MSCI EAFE and 2,630.384 for Euro Stoxx 50; 80% of initial index levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61765U548
|
© 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.
