By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Morgan Stanley Finance LLC priced $4.04 million of 0% step-down trigger autocallable notes due Feb. 14, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par of $10 plus a call premium of 9.3% per year if the fund closes at or above its call threshold level on any annual observation date. The call threshold level will be equal to the initial fund level for every observation date except for the final observation date, Feb. 10, 2020. For the final observation date, the call threshold level will be 65% of the initial level.
If the notes are not automatically called, then the final level of the fund will be less than 65% of the initial level, and investors will be exposed to the decline of the fund from its initial level.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $4,041,000
|
| Maturity: | Feb. 14, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the notes are not automatically called, investors will be fully exposed to the decline of the fund from its initial level
|
| Call: | Automatically at par plus 9.3% per year if the fund closes at or above its call threshold level on any annual observation date; call threshold level will be equal to the initial fund level for every observation date except for the final observation date, Feb. 10, 2020; for the final observation date, the call threshold level will be downside threshold
|
| Index price: | $40.35
|
| Downside threshold: | $26.23, 65% of initial price
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 15
|
| Agent: | Morgan Stanley & Co. LLC with UBS Financial Services Inc. as dealer
|
| Fees: | 2.5%
|
| Cusip: | 61766V370
|
|
|
© 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.
