By Marisa Wong
Madison, Wis., March 4 - Morgan Stanley priced $3.28 million of contingent income autocallable securities due March 6, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a rate of 6.25% per year if the index closes at or above the 60% barrier level on the determination date for that quarter.
The notes will be called if the index closes at or above its initial level on any annual call date after five years.
If the index finishes at or above the barrier level, the payout at maturity will be par plus the contingent quarterly payment. Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent income auto-callable securities
|
| Underlying index: | Russell 2000
|
| Amount: | $3.28 million
|
| Maturity: | March 6, 2028
|
| Coupon: | Contingent quarterly payment of 6.25% per year if index closes at or above barrier level on determination date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if index finishes at or above barrier level; otherwise full exposure to any losses
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any annual call date beginning March 5, 2018
|
| Initial level: | 911.11
|
| Barrier level: | 546.666, 60% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JCZ0
|
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