Morgan Stanley to price contingent income autocallables tied to Micron

By Tali Rackner

Minneapolis, Jan. 5 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Jan. 15, 2021 linked to the common stock of Micron Technology, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The notes will pay a contingent quarterly coupon at an annualized rate of 12.7% if the stock closes at or above the downside threshold, 60% of the initial level, on the applicable quarterly observation date.

On any of the first 11 determination dates, the notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price.

The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 60% downside threshold, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

The notes are expected to price on Jan. 12 and settle on Jan. 18.

The Cusip number is 61768M253.

© 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.