New York, March 25 – Morgan Stanley Finance LLC priced $1.2 million of callable contingent income securities due March 24, 2025 linked to the Nikkei Stock Average index and the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying assets: | Nikkei Stock Average index and KraneShares CSI China Internet ETF
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Amount: | $1.2 million
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Maturity: | March 24, 2025
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Coupon: | 9.8%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call option: | At par on any quarterly call date
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Initial levels: | $26.53 for KraneShares CSI China Internet ETF, 39,740.44 for Nikkei Stock Average
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Downside thresholds: | $15.918 for KraneShares CSI China Internet ETF, 23,844.264 for Nikkei Stock Average, 60% of initial levels
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Pricing date: | March 18
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Settlement date: | March 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.25%
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Cusip: | 61776LDT1
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