By Kiku Steinfeld
Chicago, Sept. 19 – Morgan Stanley Finance LLC priced $1 million of contingent income buffered autocallable securities due Feb. 2, 2023 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.35%, paid quarterly, if the underlying index closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities will be called automatically after six months at par on any quarterly call determination date if the index closes at or above its initial level.
At maturity the payout will be par unless the index declines by more than its 15% buffer in which case investors will be exposed to the decline of the index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Contingent income buffered autocallable securities
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | Feb. 2, 2023
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Coupon: | 6.35%, paid quarterly, if the underlying index closes at or above its 85% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par if the index gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the index beyond the buffer
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Call: | Automatically after six months at par on any quarterly call determination date if the index closes at or above its initial level
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Initial level: | 4,326.51
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Buffer: | 3,677.534, 85% of initial level
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Coupon barrier: | 3,677.534, 85% of initial level
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Pricing date: | Jan. 28
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Settlement date: | Feb. 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61773HV71
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