| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Morgan Stanley plans contingent income autocallables due 2032 tied to three indexes
By Lisa Mayntz
Chicago, March 13 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due March 31, 2032 linked to the worst performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
In the first three years, the notes will pay a fixed quarterly coupon at an annual rate of 8.5%. Beginning in the fourth year, investors will instead receive a contingent coupon at the annual rate of 8.5% plus any previously unpaid contingent quarterly coupons from prior observation dates if each index closes above its initial value on the related observation date.
Starting with the quarterly redemption determination date for Sept. 30, 2022, the notes will thereafter be subject to a quarterly automatic redemption, if the values of all three indexes are above their initial levels, at par plus the contingent coupon and any previously unpaid contingent quarterly coupons.
The payout at maturity will be par plus the contingent coupon and any previously unpaid contingent coupons if each index closes above its initial level. If the worst performing of the three indexes closes above the downside thresold level of 50% and below its initial level, the payout will be par. If any of the three indexes closes below the 50% downside threshold, investors will be fully exposed to the losses of the worst performing index.
Morgan Stanley & Co. LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 61768CGA9.
© 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.