Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Morgan Stanley > News item |
Morgan Stanley to sell contingent income autocallables tied to Tesla
By Devika Patel
Knoxville, Tenn., Sept. 17 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Sept. 26, 2019 linked to the common stock of Tesla, Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If Tesla shares close at or above the downside threshold level, 50% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 24.75%.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on Dec. 21, 2018, March 21, 2019 or June 21, 2019.
If the final share price is greater than or equal to the 50% downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Morgan Stanley & Co. LLC is the agent, with Morgan Stanley Wealth Management handling distribution.
The notes (Cusip: 61768T258) will price on Sept. 21 and settle on Sept. 26.
© 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.