By Susanna Moon
Chicago, Nov. 9 – Morgan Stanley Finance LLC priced $641,000 of contingent income autocallable securities due Nov. 3, 2021 linked to the worse performing of the common stocks of Apple Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlying stock closes at or above the 65% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless either stock finishes below its 65% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing stock.
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 stocks: | Apple Inc. (Symbol: AAPL), Alphabet Inc. (Symbol: GOOGL)
|
Amount: | $641,000
|
Maturity: | Nov. 3, 2021
|
Coupon: | 9% annualized, payable each quarter if each stock closes at or above downside threshold level on determination date for that quarter
|
Price: | Par
|
Payout at maturity: | If each stock finishes above downside threshold, par; otherwise, full exposure to decline of worse performing stock
|
Call: | At par plus contingent coupon if each stock closes at or above initial level on any determination date beginning May 6, 2019
|
Initial levels: | $212.24 for Apple and $1,034.73 for Alphabet
|
Downside thresholds: | $137.956 for Apple and $672.575 for Alphabet, 65% of initial levels
|
Pricing date: | Oct. 29
|
Settlement date: | Oct. 31
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 2.5%
|
Cusip: | 61768DJN6
|
|
|
© 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.