By Wendy Van Sickle
Columbus, Ohio, July 11 – Morgan Stanley Finance LLC priced $1.25 million of contingent income autocallable securities due Jan. 3, 2020 linked to the worse performing of the common stocks of Halliburton Co., Microsoft Corp. and Nike, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying stock closes at or above the 68.5% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above 95% of its initial level on any determination date.
The payout at maturity will be par unless any stock finishes below its 68.5% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing stock.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Halliburton Co., Microsoft Corp. and Nike, Inc.
|
| Amount: | $1.25 million
|
| Maturity: | Jan. 3, 2020
|
| Coupon: | 8% annualized, payable each quarter if each stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If any stock finishes above downside threshold, par; otherwise, full exposure to decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above 95% of initial level on any determination date
|
| Initial share prices: | $45.24 for Halliburton, $98.39 for Microsoft and $72.35 for Nike
|
| Downside thresholds: | $30.989 for Halliburton, $67.397 for Microsoft and $49.56 for Nike, 68.5% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | July 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61768C5V5
|
|
|
© 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.
