By Toni Weeks
San Luis Obispo, Calif., June 2 – Morgan Stanley priced $2.59 million of 0% autocallable securities due June 5, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 20% if the fund closes at or above the call threshold level, 120% of the initial level, on Dec. 5, 2016.
If the notes are not called and the fund gains, the payout at maturity will be par plus 135% of the fund gain.
If the fund falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to losses.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Autocallable securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $2,590,460
|
| Maturity: | June 5, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund gains, par plus 135% of fund gain; if fund falls by up to 15%, par; otherwise, investors will be fully exposed to losses
|
| Call: | At par plus a premium of 20% if fund closes at or above call threshold level on Dec. 5, 2016
|
| Initial level: | $78.37
|
| Call threshold: | $94.044, 120% of initial level
|
| Trigger level: | $66.615, 85% of initial level
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 61764V844
|
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