By Susanna Moon
Chicago, June 28 - Morgan Stanley priced $4.41 million of contingent income autocallable securities due July 2, 2018 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above its 80% barrier level on a quarterly determination date, the notes will pay a quarterly contingent coupon at an annualized rate of 9% for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly redemption determination date.
The payout at maturity will be par plus the final contingent coupon unless the shares finish below barrier level, in which case investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $4.41 million
|
| Maturity: | July 2, 2018
|
| Contingent coupon: | 9% per year, payable quarterly if fund closes at or above barrier level on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above barrier level, par plus contingent coupon; otherwise full exposure to losses
|
| Call: | At par plus contingent payment if fund closes at or above initial level on any quarterly redemption determination date beginning June 27, 2014
|
| Initial level: | $38.00
|
| Barrier level: | $30.40, 80% of initial level
|
| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 3%
|
| Cusip: | 61762E778
|
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