By Wendy Van Sickle
Columbus, Ohio, May 16 – Morgan Stanley Finance LLC priced $2.29 million of trigger autocallable contingent yield notes due May 16, 2023 linked to the least performing of the MSCI Emerging Markets index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout will be par plus the final coupon unless either index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the least-performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | MSCI Emerging Markets, Euro Stoxx 50
|
Amount: | $2,287,000
|
Maturity: | May 16, 2023
|
Coupon: | 8.6%, payable quarterly if each index closes at or above coupon barrier on observation date
|
Price: | Par of $10
|
Call: | After one year, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
Payout at maturity: | Par plus final coupon unless either index finishes below 70% downside threshold, in which case investors will lose 1% for each 1% decline of least-performing index
|
Initial index levels: | 1,232.60 for MSCI EM and 3,649.07 for Euro Stoxx
|
Coupon barriers/thresholds: | 862.82 for MSCI EM and 2,554.35 for Euro Stoxx; 70% of initial levels
|
Pricing date: | May 11
|
Settlement date: | May 16
|
Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
|
Fees: | 2.5%
|
Cusip: | 61768Q239
|
|
|
© 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.