By Wendy Van Sickle
Columbus, Ohio, April 17 – Morgan Stanley Finance LLC priced $3.8 million of contingent income autocallable securities due April 13, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the ETF shares close at or above the 75% downside threshold on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above their initial level on any of the first 11 determination dates.
The payout at maturity will be par plus the final coupon unless the shares finish below the downside threshold, in which case investors will lose 1% for each 1% decline.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income autocallable securities
|
Underlying ETF | SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $3,797,650
|
Maturity: | April 13, 2020
|
Coupon: | 10% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
|
Price: | Par
|
Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
Call: | At par plus contingent coupon if shares close at or above initial level on any of first 11 determination dates
|
Initial share price: | $37.22
|
Downside threshold: | $27.915, 75% of initial share price
|
Pricing date: | April 7
|
Settlement date: | April 12
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 2.5%
|
Cusip: | 61766W147
|
|
© 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.