Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for basket of common stocks > News item |
Morgan Stanley plans contingent interest notes linked to 20 stocks
By Angela McDaniels
Tacoma, Wash., April 7 - Morgan Stanley plans to price contingent annual interest notes due April 28, 2016 linked a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Abbott Laboratories, Altria Group, Inc., Bristol-Myers Squibb Co., CenturyLink, Inc., Consolidated Edison, Inc., Duke Energy Corp., FirstEnergy Corp., Frontier Communications Corp., Johnson & Johnson, Kraft Foods Inc., Lockheed Martin Corp., McDonald's Corp., Merck & Co., Inc., Pepco Holdings, Inc., Pfizer Inc., Pitney Bowes Inc., PPL Corp., Sysco Corp., TECO Energy, Inc. and Verizon Communications Inc.
The notes will pay a coupon in April of each year equal to the sum of the weighted performances of the basket stocks, subject to a minimum coupon of zero.
If a basket stock's return is flat or positive, its performance will be fixed at 11% to 13%. The exact percentage will be set at pricing. If its return is negative, its performance will be the greater of the stock return and negative 20%.
The payout at maturity will be par plus the final coupon.
The notes (Cusip: 617482TL8) will price April 25 and settle April 28.
Morgan Stanley & Co. Inc. is the underwriter.
© 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.