By Susanna Moon
Chicago, Oct. 25 - Morgan Stanley priced $1.2 million of contingent income buffered autocallable securities due Oct. 26, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 9.4%, if the index closes within the barrier range on a monthly determination date. The lower index level is 75% of the initial index level, and the upper index level is 125% of the initial index level.
If the index closes at or above the initial level on any quarterly call date after three years, the notes will be called at par plus the contingent coupon.
If the notes are not called, investors will receive par plus the final contingent coupon if the index falls by up to 25% and will be exposed to losses beyond 25%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying index: | Russell 2000
|
| Amount: | $1.2 million
|
| Maturity: | Oct. 26, 2022
|
| Coupon: | 9.4% annualized for each month that index closes within barrier level on monthly determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent coupon if index falls by up to 25%; otherwise, exposure to losses beyond 25%
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly call date beginning October 2015
|
| Initial level: | 816.20
|
| Lower barrier level: | 612.15, 75% of initial level
|
| Upper barrier level: | 1,020.25, 125% of initial level
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 6174823G7
|
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