New York, May 12 – Morgan Stanley priced $3,053,520 of contingent income autocallable securities due May 11, 2018 linked to Las Vegas Sands Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Las Vegas Sands stock closes at or above the downside threshold level of $39.555 on a quarterly determination date, the notes will pay a contingent payment of 13.15% for that quarter.
If Las Vegas Sands 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 Las Vegas Sands 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: | Las Vegas Sands Corp.
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| Amount: | $3,053,520
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| Maturity: | May 11, 2018
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| Contingent payment: | 13.15% for quarter if Las Vegas Sands 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 Las Vegas Sands stock finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if Las Vegas Sands stock closes at or above initial share price on any determination date
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| Initial share price: | $52.74
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| Trigger level: | $39.555, 75% of initial price
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| Pricing date: | May 8
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| Settlement date: | May 13
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| Agents: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61764V877
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