Chicago, April 7 – Morgan Stanley Finance LLC priced $1.24 million of contingent income autocallable securities due Sept. 24, 2020 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 16% if the stock closes at or above its 65% downside threshold on the determination date for that month.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any of the first five determination dates.
The payout at maturity will be par unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Bank of America Corp.
|
| Amount: | $1,236,000
|
| Maturity: | Sept. 24, 2020
|
| Coupon: | 16% annualized, payable monthly if stock closes at or above downside threshold on determination date for that month
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to losses
|
| Call: | At par if stock closes at or above initial share price on any of the first five determination dates
|
| Initial share price: | $19.67
|
| Downside threshold: | $12.786, 65% of initial level
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 1.25%
|
| Cusip: | 61770G864
|
|
|
© 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.
