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Morgan Stanley plans contingent income autocallables linked to Tesla
By Susanna Moon
Chicago, Aug. 20 – Morgan Stanley plans to price contingent income autocallable securities due Aug. 31, 2018 linked to Tesla Motors, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.25% if the stock closes at or above the 55% coupon barrier level on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 55% trigger level, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 61761JH28.
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