By Susanna Moon
Chicago, June 10 – Morgan Stanley priced $5,251,190 of contingent income autocallable securities due June 12, 2017 linked to BlackRock, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if BlackRock stock closes at or above the 80% barrier level on a determination date for that quarter.
The notes will be redeemed at par plus the contingent payment if BlackRock stock closes at or above its redemption threshold level on any quarterly determination dates.
The redemption threshold will be 105% of the initial share price for the first four determination dates, stepping up to 110% of the initial share price for the next four determination dates and to 115% of the initial price for the three determination dates after that.
If the BlackRock 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 agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying index: | BlackRock, Inc.
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| Amount: | $5,251,190
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| Maturity: | June 12, 2017
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| Contingent payment: | 8.25% annualized for quarter if BlackRock stock closes at or above trigger level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if BlackRock stock finishes at or above trigger level; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if BlackRock stock closes at or above redemption threshold on any determination date; redemption threshold is 105% of initial share price for first four determination dates, 110% of initial share price for next four determination dates and 115% of initial price for final three determination dates
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| Initial share price: | $313.96
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| Trigger level: | $251.168, 80% of initial price
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| Pricing date: | June 6
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| Settlement date: | June 11
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| Agents: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61761S364
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