Chicago, Dec. 4 – Morgan Stanley Finance LLC priced $7.75 million of callable buffered range accrual securities due March 31, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual 5.1% rate, payable for each day that the index closes at or above its coupon barrier level in the monthly coupon payment period, which is 85% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 15%, 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: | S&P 500
|
| Amount: | $7,750,000
|
| Maturity: | March 31, 2026
|
| Coupon: | 5.1% annualized rate, payable for each day that index closes above coupon barrier in coupon payment period; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 15%, in which case exposure to losses beyond buffer
|
| Call option: | At par on any interest payment date after one year
|
| Initial level: | 3,974.54
|
| Coupon barrier: | 3,378.359, 85% of initial level
|
| Buffer level: | 3,378.359, 85% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61771VFX3
|
© 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.
