Published on 10/26/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.36 million contingent coupon notes linked to 10 stocks
By Angela McDaniels
Tacoma, Wash., Oct. 26 – Morgan Stanley priced $3.36 million of contingent coupon notes due Oct. 27, 2022 linked to a basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is composed of the common stocks of 3M Co., Bank of America Corp., Clorox Co., Eli Lilly & Co., Exxon Mobil Corp., General Mills, Inc., Home Depot, Inc., Honeywell International Inc., NextEra Energy, Inc. and Procter & Gamble Co.
Each year, the notes will pay a coupon equal to the sum of the weighted basket component performance of each basket stock, subject to a minimum of zero. If a stock’s return is positive or flat, its basket component performance will be 9.3%. Otherwise, its basket component performance will be the greater of its return and negative 10%.
The payout at maturity will be par plus the final coupon, if any.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent coupon notes
|
| Underlying stocks: | 3M Co., Bank of America Corp., Clorox Co., Eli Lilly & Co., Exxon Mobil Corp., General Mills, Inc., Home Depot, Inc., Honeywell International Inc., NextEra Energy, Inc. and Procter & Gamble Co.
|
| Amount: | $3,363,000
|
| Maturity: | Oct. 27, 2022
|
| Coupon: | Amount equal to sum of weighted basket component performances of basket stocks, subject to minimum of zero; if a stock’s return is positive or flat, its basket component performance will be 9.3%; otherwise, its basket component performance will be greater of its return and negative 10%
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 27
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61761JN70
|
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