By Sarah Lizee
Olympia, Wash., June 17 – Morgan Stanley Finance LLC priced $50,000 more phoenix autocallable securities due June 9, 2022 linked to Walt Disney Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annualized rate of 10% if Disney stock closes at or above the 71.1% downside threshold on a quarterly observation date.
If the shares close at or above the initial price on any quarterly determination date, the notes will be called at par plus the contingent coupon and any previously unpaid coupons.
If the notes are not called and Disney shares finish at or above the downside threshold, the payout at maturity will be par plus the final contingent coupon and any previously unpaid coupons. Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as the placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Phoenix autocallable securities
|
| Underlying stock: | Walt Disney Co.
|
| Amount: | $50,000
|
| Maturity: | June 9, 2022
|
| Coupon: | 10% annualized, payable for each quarter that Disney stock closes at or above downside threshold level on any quarterly determination date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon plus any previously unpaid coupons if Disney stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent coupon and any previously unpaid coupons if Disney stock closes at or above initial share price on any quarterly determination dates
|
| Initial share price: | $123.69
|
| Downside threshold level: | $87.944, 71.1% of initial price
|
| Pricing date: | June 10
|
| Settlement date: | June 11
|
| Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 1.5%
|
| Cusip: | 61771BMH4
|
| Total issuance: | $4.3 million, including $4.25 million priced on June 5
|
|
|
© 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.
