By Marisa Wong
Morgantown, W.Va., July 10 – Morgan Stanley Finance LLC priced $3.5 million of 0% trigger autocallable notes due July 1, 2022 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Beginning in July 2018, the notes will be automatically called at par of $10 plus a call return of 10.14% a year if the ETF closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold, 75% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is below the initial share price.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger autocallable notes
|
| Underlying ETF: | VanEck Vectors Oil Services ETF
|
| Amount: | $3.5 million
|
| Maturity: | July 1, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to downside threshold, par; otherwise, 1% loss for every 1% that final share price is below initial share price
|
| Call: | Automatically at par plus 10.14% per year if ETF closes at or above initial share price on any quarterly call observation date after one year
|
| Initial price: | $24.37
|
| Downside threshold: | $18.28, 75% of initial price
|
| Strike date: | June 26
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 61766X228
|
|
|
© 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.
