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Morgan Stanley plans contingent income autocallables tied to lululemon
By Susanna Moon
Chicago, March 5 - Morgan Stanley plans to price contingent income autocallable securities due March 16, 2015 linked to lululemon athletica inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 12% if lululemon stock closes at or above the 80% barrier level on the determination date for that month.
If the shares close at or above the initial level on any quarterly determination date after one year, the notes will be called at par plus the contingent coupon.
If lululemon stock finishes at or above the 80% trigger level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price on March 12 and settle on March 15.
The Cusip number is 61761JDL0.
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