By Kiku Steinfeld
Chicago, June 1 – Morgan Stanley Finance LLC priced $3.15 million of 0% jump securities with autocallable feature due June 1, 2023 linked to the least performing of the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual premium of 14.8% if each fund closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par plus 44.4% if each fund finishes at or above its initial level. If the worst performing fund declines by no more than 40%, the payout will be par. If the worst performing fund finishes below its 60% downside threshold level, investors will be fully exposed to the decline.
The notes will be guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying funds: | SPDR Gold Trust and the iShares Silver Trust
|
| Amount: | $3,150,000
|
| Maturity: | June 1, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each fund gains, par plus 44.4%; if either fund falls by up to 40%, par; otherwise, 1% loss per 1% decline of worse performing fund
|
| Call: | At par plus 14.8% per year if each fund closes at or above initial level on any quarterly review date after one year.
|
| Initial levels: | $160.89 for gold, $15.97 for silver
|
| Barrier levels: | $96.534 for gold, $9.582 for silver; 60% of initial levels
|
| Pricing date: | May 27
|
| Settlement date: | May 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.375%
|
| Cusip: | 61771BGQ1
|
|
|
© 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.
