By Marisa Wong
Madison, Wis., May 4 – Morgan Stanley priced $1 million of 16.25% callable fixed-coupon securities due May 5, 2016 linked to Synageva BioPharma Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Following an initial six-month non-call period, the notes are callable at par plus the coupon on any monthly redemption date.
The payout at maturity will be par unless the final share price is less than the initial share price and the stock closes at or below the downside threshold level, 50% of the initial price, on any day during the life of the notes, in which case investors will be fully exposed to the decline.
The agent is Morgan Stanley & Co. LLC.
| Issuer: | Morgan Stanley
|
| Issue: | Callable fixed-coupon securities
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| Underlying stock: | Synageva BioPharma Corp. (Symbol: GEVA)
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| Amount: | $1 million
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| Maturity: | May 5, 2016
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| Contingent payment: | 16.25%, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless final share price is less than initial share price and stock closes at or below downside threshold level on any day during life of notes, in which case full exposure to decline
|
| Call option: | At par on any monthly redemption date beginning Nov. 4
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| Initial share price: | $108.51
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| Downside threshold level: $54.255, 50% of initial price
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| Pricing date: | April 27
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| Settlement date: | May 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.57%
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| Cusip: | 61761JYY9
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