Morgan Stanley plans contingent income autocallables on Bank of America

By Tali Rackner

Minneapolis, Oct. 25 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Oct. 30, 2020 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the shares close at or above the downside threshold, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9.15%.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any of the first eleven monthly determination dates.

If the final share price is greater than or equal to the downside threshold, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Oct. 27 and settle on Nov. 1.

The Cusip number is 61768J698.

© 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.