By Marisa Wong
Madison, Wis., June 15 – Morgan Stanley priced $3.1 million of 0% autocallable securities due June 14, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 16.25% if the fund closes at or above the initial price on Dec. 12, 2016.
If the notes are not called and the fund gains, the payout at maturity will be par plus 125% of the fund gain.
If the fund falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Autocallable securities
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $3,095,000
|
| Maturity: | June 14, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund gains, par plus 125% of fund gain; if fund falls by up to 15%, par; otherwise, investors will be fully exposed to losses
|
| Call: | At par plus a premium of 16.25% if fund closes at or above initial price on Dec. 12, 2016
|
| Initial price: | $40.24
|
| Trigger price: | $34.204, 85% of initial price
|
| Pricing date: | June 11
|
| Settlement date: | June 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61765G374
|
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