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Morgan Stanley plans 6.8%-7.8% autocallable worst-of RevCons linked to three stocks
By Susanna Moon
Chicago, May 12 - Morgan Stanley plans to price 6.8% to 7.8% worst-of RevCons due August 2015 linked to the worst performing of the common stocks of Apple Inc., Coca-Cola Co. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly, with the exact rate to be set at pricing.
The notes will be called at par plus the coupon if each stock closes at or above its respective redemption level, 98% of its initial share price, on any determination date other than the final date.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case the payout will be a number of shares equal to par divided by the initial share price of the worst performing stock.
Morgan Stanley & Co. LLC is the agent.
The notes will price and settle in May.
The Cusip number is 61761JQY8.
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