By William Gullotti
Buffalo, N.Y., Jan. 12 – Morgan Stanley Finance LLC priced $250,000 of contingent income buffered autocallable securities due Aug. 29, 2024 linked to the performance of the SPDR S&P Metals & Mining ETF and the Energy Select Sector SPDR Fund, according to a 424B2 filed with the Securities and Exchange Commission.
The securities are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each ETF closes at or above its 85% coupon barrier on the corresponding observation date.
The notes will be called at par plus coupon if each ETF closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above its 85% buffer level. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Issue: | Contingent income buffered autocallable securities
|
| Guarantor: | Morgan Stanley
|
| Underlying funds: | SPDR S&P Metals & Mining ETF, Energy Select Sector SPDR Fund
|
| Amount: | $250,000
|
| Maturity: | Aug. 29, 2024
|
| Coupon: | 8% annualized, payable monthly if each ETF closes at or above coupon barrier on review date on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above buffer level, par plus final coupon; otherwise, 1% loss for each 1% decline of worst performing ETF below 15%
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any quarterly call date after one year
|
| Initial levels: | $42.89 for Mining, $48.03 for Energy
|
| Coupon barrier levels: | $36.457 for Mining, $40.826 for Energy; 85% of initial levels
|
| Buffer levels: | $36.457 for Mining, $40.826 for Energy; 85% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61773FNS8
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
