By Angela McDaniels
Tacoma, Wash., May 7 – Morgan Stanley Finance LLC priced $10.71 million of contingent income autocallable securities due May 7, 2020 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index closes at or above the downside threshold level, 75% of the initial index level, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.35%.
The notes will be called at par of $10 plus the contingent coupon if the index closes at or above the initial index level on any quarterly determination date other than the final determination date.
If the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Euro Stoxx Banks
|
| Amount: | $10,705,000
|
| Maturity: | May 7, 2020
|
| Coupon: | 8.35% per year, payable quarterly if index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final index level is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final index level is less than initial index level
|
| Call: | At par plus contingent coupon if index closes at or above initial index level on any quarterly determination date other than final determination date
|
| Initial index level: | 100.18
|
| Downside threshold: | 75.135, 75% of initial index level
|
| Pricing date: | May 3
|
| Settlement date: | May 9
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61768Y257
|
© 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.
