Morgan Stanley plans contingent income autocallables tied to Gilead

By Marisa Wong

Madison, Wis., Nov. 13 – Morgan Stanley plans to price contingent income autocallable securities due Nov. 25, 2016 linked to Gilead Sciences, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 11.58% if the stock closes at or above its 75% downside threshold level on the observation date for that month.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly redemption date beginning Feb. 25, 2015.

The payout at maturity will be par plus the final coupon unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Nov. 20 and settle on Nov. 25.

The Cusip number is 61761JUU1.

© 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.