By Toni Weeks
San Luis Obispo, Calif., Dec. 24 – Morgan Stanley priced $4.23 million of 0% autocallable securities with conditional observation due Dec. 22, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 9% per year if the index closes at or above the initial level on any of the first five semiannual determination dates.
If the notes are not called and the index gains, the payout at maturity will be par plus 150% of the index return.
If the final index level is below the initial level but at or above the trigger level, 75% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial level.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Autocallable securities with conditional observation
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $4,225,100
|
| Maturity: | Dec. 22, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 1.5 times the return; if final level is below initial level but at or above trigger level, par; if final level is below trigger level, par plus index return with exposure to losses
|
| Call: | At par plus 9% per year if index closes at or above initial level on any of first five semiannual determination dates
|
| Initial level: | 3,141.28
|
| Trigger level: | 2,355.96, 75% of initial level
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 61764M216
|
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