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Morgan Stanley to price callable fixed-income notes on indexes
By Marisa Wong
Morgantown, W.Va., Nov. 21 – Morgan Stanley Finance LLC plans to price callable fixed-income securities due May 28, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each quarter, the notes will pay a coupon at a rate of 7.3% per year.
After six months, the notes are callable quarterly at par plus the coupon.
If the notes are not called and each index finishes at or above its 75% barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
Morgan Stanley & Co. LLC is the agent.
The notes will price Nov. 22.
The Cusip number is 61768CUS4.
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