New York, April 15 - Morgan Stanley priced $2,208,000 of contingent income auto-callable securities due April 16, 2015 linked to Broadcom Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Broadcom stock closes at or above the downside threshold level of $23.456 on a quarterly determination date, the notes will pay a contingent payment of 7.75% for that quarter.
If Broadcom stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the Broadcom 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
|
| Issue: | Contingent income auto-callable securities
|
| Underlying index: | Broadcom Corp.
|
| Amount: | $2,208,000
|
| Maturity: | April 16, 2015
|
| Contingent payment: | 7.75% for quarter if Broadcom stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if Broadcom stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent payment if Broadcom stock closes at or above initial share price on any determination date
|
| Initial share price: | $29.32
|
| Trigger level: | $23.456, 80% of initial price
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61760S795
|
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