Morgan Stanley plans contingent income autocalls on S&P, Nasdaq

By Sarah Lizee

Olympia, Wash., May 15 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Aug. 25, 2021 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 10.5% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the determination date for that period.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly redemption date after six months.

The payout at maturity will be par unless either index finishes below its downside threshold level, 70% of its initial level, in which case investors will receive par plus the return of the least-performing index.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price on May 20.

The Cusip number is 61771BEU4.

© 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.