By Jennifer Chiou
New York, Oct. 17 - Morgan Stanley priced $10.82 million of market-linked autocallable notes with a contingent quarterly coupon due Oct. 20, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized contingent coupon of 8.75% if the index closes at or above the barrier level of 840 on the related observation date. Otherwise, the coupon will be zero for that interest payment period.
Beginning on Oct. 20, 2015, the notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly redemption determination date.
If the notes are not called, the payment at maturity will be par plus the final contingent coupon, if any.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent coupon market-linked autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $10,824,000
|
| Maturity: | Oct. 20, 2026
|
| Coupon: | An annualized 8.75% if the index closes at or above the barrier level of 840 on related observation date; otherwise, zero for that quarterly interest payment period
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | Automatically at par if index closes at or above initial level on any quarterly observation date beginning on Oct. 20, 2015
|
| Initial index level: | 1,203.66
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 20
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 617482YW8
|
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