Published on 5/5/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $12.1 million autocallable securities on S&P 500
By Marisa Wong
Madison, Wis., May 5 – Morgan Stanley priced $12.1 million of 0% autocallable securities due May 3, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 20% if the index closes at or above the call threshold level, 120% of the initial level, on Nov. 4, 2016.
If the notes are not called and the index gains, the payout at maturity will be par plus 125% of the index gain.
If the index falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Autocallable securities
|
| Underlying index: | S&P 500
|
| Amount: | $12,098,930
|
| Maturity: | May 3, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus 125% of index gain; if index falls by up to 15%, par; otherwise, investors will be fully exposed to losses
|
| Call: | At par plus a premium of 20% if index closes at or above call threshold level on Nov. 4, 2016
|
| Initial level: | 2,085.51
|
| Call threshold: | 2,502.612, 120% of initial level
|
| Trigger level: | 1,772.684, 85% of initial level
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61764V638
|
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