By Susanna Moon
Chicago, June 1 – Morgan Stanley Finance LLC priced $955,000 of callable buffered range accrual securities due May 30, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.1% for each day that the index closes at or above its 80% coupon barrier, payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond the buffer.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable buffered range accrual securities
|
| Underlying index: | Russell 2000
|
| Amount: | $955,000
|
| Maturity: | May 30, 2023
|
| Coupon: | 5.1% annualized, payable monthly for each day that index closes at or above its 80% coupon barrier
|
| Price: | Par of $10
|
| Call option: | At par on any monthly redemption date beginning on May 30, 2019
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss per 1% decline beyond 20%
|
| Initial level: | 1,628.222
|
| Coupon barrier: | 1,302.578, 80% of initial level
|
| Pricing date: | May 24
|
| Settlement date: | May 30
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61768CZ42
|
|
|
|
|
© 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.
