New York, April 28 – Morgan Stanley priced $6,483,610 of contingent income autocallable securities due April 30, 2018 linked to Gilead Sciences, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Gilead Sciences stock closes at or above the downside threshold level of $77.771 on a quarterly determination date, the notes will pay a contingent payment of 8.15% for that quarter.
If Gilead Sciences stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the Gilead Sciences stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is Morgan Stanley & Co. LLC.
Issuer: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying stock: | Gilead Sciences, Inc.
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Amount: | $6,483,610
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Maturity: | April 30, 2018
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Contingent payment: | 8.15% for quarter if Gilead Sciences stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus contingent coupon if Gilead Sciences stock finishes at or above downside threshold; otherwise full exposure to any losses
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Call: | At par plus contingent payment if Gilead Sciences stock closes at or above initial share price on any determination date
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Initial share price: | $103.695
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Trigger level: | $77.771, 75% of initial price
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Pricing date: | April 24
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Settlement date: | April 29
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Agents: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61764V737
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