By Kiku Steinfeld
Chicago, Dec. 17 – Morgan Stanley Finance LLC priced $3.25 million of contingent coupon securities due May 19, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes pay a contingent coupon at an annual rate of 2.7% if the index closes at or above its trigger level – 80% of its initial level – on every trading day during that monthly monitoring period.
The payout at maturity will be par plus the contingent coupon unless the index closes below its trigger level on any trading day during the life of the notes, in which case investors will receive par plus 1.25% times the index strike return.
If the index has closed below its 80% trigger level during the life of the notes, the return at maturity can be either positive or negative.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent coupon securities
|
| Underlying index: | S&P 500
|
| Amount: | $3,250,000
|
| Maturity: | May 19, 2022
|
| Coupon: | 2.7% per year, payable monthly if index closes at or above trigger level on every trading day during monthly monitoring period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless index closes below trigger level on any trading day during life of notes, in which case par plus 1.25% of index strike return, positive or negative return possible
|
| Initial level: | 3,120.46
|
| Trigger level: | 2,496.368, 80% of initial value
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 20
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61769HQ65
|
|
|
© 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.
