By William Gullotti
Buffalo, N.Y., June 1 – Morgan Stanley Finance LLC priced $4.22 million of contingent income autocallable securities due May 3, 2024 linked to Tesla, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will pay a contingent coupon of 23% annually, paid quarterly if the underlying stock closes at or above the 60% downside threshold on any quarterly observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed early at par plus the contingent payment.
If the underlying stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Tesla, Inc.
|
| Amount: | $4,221,000
|
| Maturity: | May 3, 2024
|
| Coupon: | 23% per year, paid quarterly if underlying stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any quarterly determination date
|
| Initial share price: | $709.44
|
| Downside level: | $425.664; 60% of initial price
|
| Pricing date: | April 30
|
| Settlement date: | May 7
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61771VYM6
|
|
|
© 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.
