New York, July 7 – Morgan Stanley priced $1,212,300 of contingent income autocallable securities due July 6, 2018 linked to Facebook, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Facebook stock closes at or above the downside threshold level of $69.828 on a quarterly determination date, the notes will pay a contingent payment of 8.5% for that quarter.
If Facebook stock closes at or above its redemption level on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
The call level will be 105% of the initial share price for the first four determination dates, stepping up to 110% of the initial share price for the next four determination dates and to 115% of the initial share price for the final determination dates.
If the Facebook stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $1,212,300
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| Maturity: | July 6, 2018
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| Contingent payment: | 8.5% for quarter if Facebook stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Facebook stock finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if Facebook stock closes at or above call level on any determination date
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| Initial share price: | $87.285
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| Trigger level: | $69.828, 80% of initial price
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| Call level: | 105% of the initial share price for the first four determination dates, stepping up to 110% of the initial share price for the next four determination dates and to 115% of the initial share price for the final determination dates
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| Pricing date: | July 2
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| Settlement date: | July 8
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| Agents: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61765G481
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