Morgan Stanley plans to price phoenix autocallable notes on SVB stock

By Sarah Lizee

Olympia, Wash., Sept. 11 – Morgan Stanley Finance LLC plans to price phoenix autocallable notes due Sept. 30, 2020 linked to the common stock of SVB Financial Group, according to a 424B2 filing with the Securities and Exchange Commission.

If the shares close at or above the downside threshold, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent coupon plus any previously unpaid contingent coupons. If the shares close below the downside threshold on a quarterly determination date, no coupon will be paid that quarter. The contingent coupon rate is 5% per year.

The notes will be automatically called at par if the shares close at or above the initial share price on any of the first three quarterly determination dates.

The payout at maturity will be par unless the shares finish below the downside threshold, in which case investors will lose 1% for every 1% that the stock declines from its initial price.

Morgan Stanley & Co. LLC is the agent. JPMorgan Chase Bank NA and J.P. Morgan Securities LLC are placement agents.

The notes will price on Sept. 13.

The Cusip number is 61769HVG7.

© 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.