By Sarah Lizee
Olympia, Wash., July 6 – Morgan Stanley Finance LLC priced $18.68 million of contingent income autocallable securities due June 29, 2023 linked to Zoom Video Communications, 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 22.75% if the stock closes at or above the 50% coupon barrier on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any of the first 11 quarterly determination dates.
The payout at maturity will be par unless the stock finishes below its downside threshold, 50% of initial level, in which case investors will be fully exposure to any losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income autocallable securities
|
Underlying stock: | Zoom Video Communications, Inc.
|
Amount: | $18,677,430
|
Maturity: | June 29, 2023
|
Coupon: | 22.75% annualized, payable quarterly if stock closes at or above coupon barrier level on determination date for that quarter
|
Price: | Par
|
Payout at maturity: | If final share price is at or above downside threshold, par; otherwise, lose 1% for each 1% decline
|
Call: | At par plus contingent coupon if stock closes at or above initial share price on any of the first 11 quarterly determination dates
|
Initial share price: | $256.80
|
Coupon barrier: | $128.40, 50% of initial level
|
Downside threshold: | $128.40, 50% of initial level
|
Pricing date: | June 26
|
Settlement date: | July 1
|
Agent: | Morgan Stanley & Co. LLC
|
Dealer: | Morgan Stanley Wealth Management
|
Fees: | 2.5%
|
Cusip: | 61771C433
|
|
© 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.