New Issue: Morgan Stanley prices $1.72 million contingent income autocalls on indexes

By Taylor Fox

New York, March 19 – Morgan Stanley Finance LLC priced $1.72 million of contingent income autocallable securities due March 12, 2024 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each month, the notes will pay a contingent coupon at the rate of 9.7% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that period.

The notes will be automatically called at par if each index closes at or above its initial level on any monthly call determination date after six months.

The payout at maturity will be par plus any coupon due unless any index finishes below its 60% downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.

The agent is Morgan Stanley & Co. LLC.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying indexes:	Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
Amount:	$1,720,000
Maturity:	March 12, 2024
Coupon:	9.7% per year, payable monthly if each index closes at or above barrier level on determination date for that period
Price:	Par
Payout at maturity:	Par plus any coupon due unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
Call:	Automatically at par if each index closes at or above its initial level on any monthly call determination date after six months
Initial index levels:	2,202.985 for Russell, 12,299.08 for Nasdaq and 31,802.44 for Dow
Coupon barrier levels:	1,542.09 for Russell, 8,609.356 for Nasdaq and 22,261.708 for Dow; 70% of initial levels
Downside threshold levels:	1,321.791 for Russell, 7,379.448 for Nasdaq and 19,081.464 for Dow; 60% of initial levels
Pricing date:	March 8
Settlement date:	March 10
Agent:	Morgan Stanley & Co. LLC
Fees:	0.75%
Cusip:	61771VJC5

© 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.