New York, July 24 – Morgan Stanley Finance LLC priced $500,00 of 10% contingent income autocallable securities due July 25, 2028 linked to the worse performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a fixed coupon at an annualized rate of 10% for the first year, then a contingent coupon at an annualized rate of 10% if both indexes close above their initial levels on a quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
Starting July 22, 2019, the notes will be automatically called at par if both indexes close at or above their initial levels on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless any underlying index finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Autocallable contingent income securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $500,000
|
| Maturity: | July 25, 2028
|
| Coupon: | 10% annualized, payable quarterly for first year, then payable quarterly for any quarter that both indexes close at or above initial level on review date, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | If both indexes finishes above 50% downside threshold, par plus any coupon due; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | Starting July 22, 2019, automatically at par if both indexes close at or above initial level on any quarterly call date
|
| Initial levels: | 3,460.03 for Stoxx and 1,696.808 for Russell
|
| Downside thresholds: | 1,730.015 for Stoxx and 848.404 for Russell; 50% of initial levels
|
| Pricing date: | July 20
|
| Settlement date: | July 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.35%
|
| Cusip: | 61768DAK1
|
|
|
|
|
© 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.
