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Morgan Stanley plans 4.5%-5.5% autocallable worst-of RevCons linked to three stocks
By Susanna Moon
Chicago, Dec. 13 - Morgan Stanley plans to price 4.5% to 5.5% worst-of RevCons due June 2015 linked to the worst performing of the common stocks of Freeport-McMoRan Copper & Gold Inc., Bank of America Corp. and Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case the payout will be par plus the return of the worst performing stock.
Morgan Stanley & Co. LLC is the agent.
The notes will price and settle in December.
The Cusip number is 61761JNM7.
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