By Susanna Moon
Chicago, Sept. 7 – Morgan Stanley Finance LLC priced $4 million of trigger autocallable contingent yield notes due Sept. 3, 2020 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the fund closes at or above its coupon barrier, 70.05% of its initial level, on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon, unless the fund finishes below the 70.05% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Morgan Stanley.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying fund: | VanEck Vectors Oil Services ETF
|
| Amount: | $4 million
|
| Maturity: | Sept. 3, 2020
|
| Coupon: | 10%, payable quarterly if fund closes at or above 70.05% coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if fund closes at or above initial level on any quarterly observation date beginning Feb. 28, 2018
|
| Payout at maturity: | Par unless fund finishes below downside threshold, in which case 1% loss for each 1% decline
|
| Initial level: | $22.12
|
| Threshold: | $15.50, 70.05% of initial level
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61766X830
|
|
|
|
|
|
|
© 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.
