Chicago, Nov. 18 – Morgan Stanley Finance LLC priced $912,500 of contingent income autocallable securities due March 7, 2025 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.2%, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date.
The securities will be called automatically starting June 6 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 65% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying stock: | Chevron Corp.
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Amount: | $912,500
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Maturity: | March 7, 2025
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Coupon: | 8.2% annual rate, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date
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Price: | Par of $10
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Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically starting June 6 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial level: | $158.65
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Downside threshold: | $103.123, 65% of initial level
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Pricing date: | March 4
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Settlement date: | March 9
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61773U779
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