Morgan Stanley plans trigger phoenix autocallables on General Motors

By Marisa Wong

Madison, Wis., Aug. 6 – Morgan Stanley plans to price trigger phoenix autocallable optimization securities due Aug. 14, 2019 linked to General Motors Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7% if General Motors stock closes at or above the trigger level – 67% to 72% of the initial share price – on an observation date for that month.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.

The payout at maturity will be par plus the contingent coupon unless General Motors stock finishes below the trigger level, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is the dealer.

The notes will price on Aug. 8 and settle on Aug. 13.

The Cusip number is 61758S369.

© 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.