Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Russell 2000 index > News item |
Morgan Stanley to price contingent income notes on two indexes
By Toni Weeks
San Luis Obispo, Calif., July 3 – Morgan Stanley plans to price contingent income securities due July 31, 2029 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at a fixed rate of 6% per year for the first six years. After that, the notes will pay the 6% monthly coupon only if the closing value of each index is at or above its coupon barrier level, 50% of the initial level, on the observation date for that month.
The payout at maturity will be par plus the final contingent coupon if each index finishes at or above the 50% coupon barrier level. If either index finishes below the 50% barrier, investors will be fully exposed to the decline of the worst-performing index.
Morgan Stanley & Co. LLC is the agent.
The notes are expected to price July 28 and settle July 31.
The Cusip number is 61761JRN1.
© 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.