By Wendy Van Sickle
Columbus, Ohio, May 6 – Morgan Stanley Finance LLC priced $9.48 million of callable contingent income securities due May 3, 2030 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Every quarter, the notes will pay a contingent coupon at the rate of 8.3% per year if the index closes at or above its coupon barrier level, 75% of its initial level, on the observation date that period.
If the index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus the final coupon, if any.
If the index finishes below its barrier level, investors will lose 1% for every 1% decline from the initial level.
After six months, the notes will be callable at par on any coupon payment date.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying index: | S&P 500
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Amount: | $9,479,000
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Maturity: | May 3, 2030
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Coupon: | 8.3% per year, payable every quarter if index closes at or above its coupon barrier level on the observation date for that period
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Price: | Par
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Payout at maturity: | Par if index finishes at or above barrier level; if index finishes below barrier level, 1% for every 1% decline
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Call option: | After six months, at par on any quarterly call date
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Initial level: | 2,912.43
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Coupon barrier: | 2,184.323; 75% of initial level
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Final barrier: | 1,747.458, 60% of initial level
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3.5%
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Cusip: | 61770FU46
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