By Susanna Moon
Chicago, Feb. 14 - Morgan Stanley priced $1.5 million of contingent income autocallable securities due Feb. 15, 2018 linked to Ford Motor Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Ford Motor stock closes at or above the 80% coupon barrier level on a monthly determination date, the notes will pay a contingent payment of 8.5% for that month.
If Ford Motor stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the Ford Motor stock finishes at or above the 60% 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
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Ford Motor Co.
|
| Amount: | $1,499,000
|
| Maturity: | Feb. 15, 2018
|
| Contingent payment: | 8.5% annualized per month if Ford Motor stock closes at or above barrier level on determination date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Ford Motor stock finishes at or above downside threshold; otherwise full exposure to any losses
|
| Call: | At par plus contingent payment if Ford Motor stock closes at or above initial share price on any determination date
|
| Initial share price: | $13.08
|
| Coupon barrier level: | $10.464, 80% of initial level
|
| Trigger level: | $7.848, 60% of initial price
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 15
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JBW8
|
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