By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – Morgan Stanley Finance LLC priced $1 million of contingent income buffered autocallable securities due Feb. 11, 2021 linked to the lesser performing of the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, 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 contingent coupon at the rate of 9.45% per year if each underlier closes at or above its buffer level, 80% of its initial level, on the determination date for that quarter.
After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either underlier finishes below its buffer level, in which case investors will lose 1.25% for every 1% that the lesser-performing underlier declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underliers: | Russell 2000 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $1 million
|
| Maturity: | Feb. 11, 2021
|
| Coupon: | 9.45% per year, payable quarterly if each underlier closes at or above buffer level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1.25% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | After one year, automatically at par if each underlier closes at or above initial level on any quarterly determination date
|
| Initial levels: | 1,507.969 for index and $47.33 for ETF
|
| Buffer levels: | 1,206.375 for index and $37.864 for ETF; 80% of initial levels
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.1%
|
| Cusip: | 61768CD20
|
|
|
© 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.
