By Angela McDaniels
Tacoma, Wash., July 17– Morgan Stanley priced $1.13 million of contingent income autocallable securities due July 20, 2017 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10% if the index closes at or above the downside threshold level, 75% of the initial index level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any determination date other than the final one.
If the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $1.31 million
|
| Maturity: | July 20, 2017
|
| Coupon: | Each quarter, notes pay contingent coupon at annualized rate of 10% if index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final index level is less than initial index level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any determination date other than final one
|
| Initial index level: | 249.9587
|
| Downside threshold: | 187.469025, 75% of initial level
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61762GEB6
|
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