By Kiku Steinfeld
Chicago, Nov. 7 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due Oct. 26, 2021 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If Tesla shares close at or above the downside threshold level, 50% of the initial share price, on a monthly determination date, the notes will pay a contingent payment that month at an annualized rate of 12%.
The notes will be called at par plus the contingent coupon if Tesla shares close at or above the initial share price on any monthly determination date after three months.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Tesla, Inc.
|
| Amount: | $250,000
|
| Maturity: | Oct. 26, 2021
|
| Coupon: | 12% per year, payable monthly if shares close at or above downside threshold level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus coupon if shares close at or above initial share price on any monthly determination date after three months
|
| Initial share price: | $253.50
|
| Downside threshold: | $126.75, 50% of initial share price
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 61769HB38
|
|
|
© 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.
